Huntington Bancshares Incorporated (NASDAQ:HBAN) Stake Lessened by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC reduced its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 30.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,988 shares of the bank’s stock after selling 8,374 shares during the period. Octavia Wealth Advisors LLC’s holdings in Huntington Bancshares were worth $282,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of HBAN. WealthShield Partners LLC boosted its holdings in shares of Huntington Bancshares by 5.9% during the second quarter. WealthShield Partners LLC now owns 12,237 shares of the bank’s stock worth $163,000 after purchasing an additional 683 shares during the period. UMB Bank n.a. increased its stake in shares of Huntington Bancshares by 19.1% in the third quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock worth $67,000 after acquiring an additional 728 shares during the last quarter. Foundations Investment Advisors LLC raised its stake in shares of Huntington Bancshares by 3.2% during the 2nd quarter. Foundations Investment Advisors LLC now owns 23,647 shares of the bank’s stock worth $312,000 after purchasing an additional 744 shares in the last quarter. Summit Financial Strategies Inc. lifted its holdings in shares of Huntington Bancshares by 2.5% during the 2nd quarter. Summit Financial Strategies Inc. now owns 30,955 shares of the bank’s stock valued at $408,000 after buying an additional 762 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of Huntington Bancshares by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 157,152 shares of the bank’s stock valued at $2,192,000 after buying an additional 780 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $15.39 on Friday. The business has a 50 day simple moving average of $14.35 and a 200 day simple moving average of $13.87. Huntington Bancshares Incorporated has a one year low of $9.25 and a one year high of $15.43. The company has a market capitalization of $22.35 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 2.77 and a beta of 1.04. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, July 19th. The bank reported $0.30 EPS for the quarter, beating the consensus estimate of $0.28 by $0.02. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the previous year, the company earned $0.35 EPS. On average, sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.18 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were paid a dividend of $0.155 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.62 dividend on an annualized basis and a yield of 4.03%. Huntington Bancshares’s payout ratio is 58.49%.

Insiders Place Their Bets

In other news, CFO Zachary Jacob Wasserman sold 33,000 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the sale, the chief financial officer now owns 265,809 shares of the company’s stock, valued at $4,021,690.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Zachary Jacob Wasserman sold 33,000 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the transaction, the chief financial officer now directly owns 265,809 shares in the company, valued at approximately $4,021,690.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kendall A. Kowalski sold 5,747 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total value of $86,090.06. Following the completion of the sale, the insider now owns 65,899 shares in the company, valued at $987,167.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,622 shares of company stock worth $1,762,904. Company insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Royal Bank of Canada lifted their target price on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Baird R W downgraded shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Citigroup upped their price target on Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Piper Sandler boosted their target price on Huntington Bancshares from $11.50 to $13.50 and gave the stock an “underweight” rating in a report on Monday, July 22nd. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.71.

Huntington Bancshares Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.