Balanced Wealth Group LLC Invests $179,000 in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Balanced Wealth Group LLC bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 14,061 shares of the bank’s stock, valued at approximately $179,000.

A number of other institutional investors also recently made changes to their positions in the stock. SG Americas Securities LLC boosted its position in shares of Huntington Bancshares by 208.2% during the 3rd quarter. SG Americas Securities LLC now owns 72,404 shares of the bank’s stock valued at $753,000 after purchasing an additional 48,913 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Huntington Bancshares by 2.8% during the third quarter. Commonwealth Equity Services LLC now owns 548,316 shares of the bank’s stock valued at $5,702,000 after buying an additional 15,139 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Huntington Bancshares by 2.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 413,221 shares of the bank’s stock worth $4,297,000 after purchasing an additional 9,491 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Huntington Bancshares by 5.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 120,744 shares of the bank’s stock worth $1,256,000 after purchasing an additional 5,740 shares in the last quarter. Finally, Independent Advisor Alliance grew its holdings in shares of Huntington Bancshares by 11.8% during the third quarter. Independent Advisor Alliance now owns 24,363 shares of the bank’s stock valued at $253,000 after buying an additional 2,571 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on HBAN. Evercore ISI lifted their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Jefferies Financial Group raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $16.00 in a report on Monday, April 8th. Bank of America upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $14.00 to $16.00 in a report on Monday, April 8th. JPMorgan Chase & Co. upped their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $16.00 price objective on shares of Huntington Bancshares in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.17.

Insiders Place Their Bets

In other news, VP Rajeev Syal sold 11,627 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $13.67, for a total transaction of $158,941.09. Following the transaction, the vice president now directly owns 329,607 shares in the company, valued at $4,505,727.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Kendall A. Kowalski sold 15,711 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $13.84, for a total value of $217,440.24. Following the transaction, the insider now owns 65,195 shares of the company’s stock, valued at approximately $902,298.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Rajeev Syal sold 11,627 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $13.67, for a total transaction of $158,941.09. Following the sale, the vice president now directly owns 329,607 shares of the company’s stock, valued at $4,505,727.69. The disclosure for this sale can be found here. Insiders have sold a total of 224,092 shares of company stock valued at $3,031,731 in the last 90 days. 0.92% of the stock is currently owned by insiders.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN traded up $0.20 during midday trading on Wednesday, reaching $14.05. 15,104,028 shares of the company traded hands, compared to its average volume of 17,234,266. The stock’s 50-day simple moving average is $13.48 and its 200-day simple moving average is $12.46. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88. Huntington Bancshares Incorporated has a 12 month low of $9.13 and a 12 month high of $14.08. The firm has a market cap of $20.36 billion, a PE ratio of 12.48, a PEG ratio of 2.55 and a beta of 1.09.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, April 19th. The bank reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the business earned $0.38 EPS. As a group, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.41%. Huntington Bancshares’s dividend payout ratio is 55.86%.

Huntington Bancshares Company 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.