Octavia Wealth Advisors LLC Lowers Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Octavia Wealth Advisors LLC lowered its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 42,138 shares of the bank’s stock after selling 3,050 shares during the period. Octavia Wealth Advisors LLC’s holdings in Huntington Bancshares were worth $543,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HBAN. Tyler Stone Wealth Management purchased a new stake in Huntington Bancshares in the 2nd quarter valued at approximately $25,000. Clear Street Markets LLC boosted its holdings in Huntington Bancshares by 81.6% in the 1st quarter. Clear Street Markets LLC now owns 2,831 shares of the bank’s stock valued at $32,000 after purchasing an additional 1,272 shares in the last quarter. Planned Solutions Inc. purchased a new stake in Huntington Bancshares in the 4th quarter valued at approximately $33,000. Authentikos Wealth Advisory LLC purchased a new stake in Huntington Bancshares in the 3rd quarter valued at approximately $35,000. Finally, Sunbelt Securities Inc. purchased a new stake in Huntington Bancshares in the 1st quarter valued at approximately $35,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

HBAN opened at $13.04 on Wednesday. The firm has a market cap of $18.91 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 2.46 and a beta of 1.11. Huntington Bancshares Incorporated has a fifty-two week low of $9.13 and a fifty-two week high of $14.07. The company’s 50-day moving average price is $13.22 and its 200 day moving average price is $12.09. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.73.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, January 19th. The bank reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.15. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $1.75 billion. Huntington Bancshares had a net margin of 18.00% and a return on equity of 12.96%. During the same quarter in the prior year, the business earned $0.43 earnings per share. As a group, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 18th were paid a dividend of $0.155 per share. The ex-dividend date was Friday, March 15th. This represents a $0.62 annualized dividend and a yield of 4.75%. Huntington Bancshares’s dividend payout ratio (DPR) is 50.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on HBAN shares. Keefe, Bruyette & Woods lifted their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Evercore ISI boosted their price target on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. UBS Group upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $14.00 to $15.00 in a research report on Wednesday, February 14th. Jefferies Financial Group raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and boosted their price objective for the company from $14.00 to $16.00 in a research note on Monday, April 8th. Finally, Barclays raised shares of Huntington Bancshares from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $12.00 to $15.00 in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and an average price target of $14.97.

Insider Buying and Selling

In other Huntington Bancshares news, Director Ann B. Crane sold 58,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $13.54, for a total value of $785,320.00. Following the sale, the director now owns 192,247 shares in the company, valued at $2,603,024.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Huntington Bancshares news, insider Helga Houston sold 28,700 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $13.17, for a total value of $377,979.00. Following the sale, the insider now owns 568,222 shares in the company, valued at $7,483,483.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann B. Crane sold 58,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $13.54, for a total transaction of $785,320.00. Following the completion of the sale, the director now owns 192,247 shares in the company, valued at approximately $2,603,024.38. The disclosure for this sale can be found here. Insiders have sold a total of 102,241 shares of company stock worth $1,360,359 over the last quarter. 0.92% of the stock is owned by company insiders.

About Huntington Bancshares

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.