Pathway Financial Advisers LLC Invests $569,000 in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Pathway Financial Advisers LLC purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 40,778 shares of the bank’s stock, valued at approximately $569,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Blue Trust Inc. lifted its position in shares of Huntington Bancshares by 12.0% in the 4th quarter. Blue Trust Inc. now owns 8,460 shares of the bank’s stock valued at $108,000 after acquiring an additional 904 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Huntington Bancshares by 3.9% in the 4th quarter. Fifth Third Bancorp now owns 119,333 shares of the bank’s stock valued at $1,518,000 after purchasing an additional 4,464 shares during the period. Parsons Capital Management Inc. RI purchased a new stake in shares of Huntington Bancshares in the fourth quarter worth approximately $141,000. First Citizens Bank & Trust Co. boosted its holdings in shares of Huntington Bancshares by 4.6% during the fourth quarter. First Citizens Bank & Trust Co. now owns 27,201 shares of the bank’s stock worth $346,000 after purchasing an additional 1,201 shares during the period. Finally, State of Michigan Retirement System grew its position in Huntington Bancshares by 4.7% during the fourth quarter. State of Michigan Retirement System now owns 415,650 shares of the bank’s stock valued at $5,287,000 after purchasing an additional 18,700 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Transactions at Huntington Bancshares

In related news, insider Kendall A. Kowalski sold 5,747 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total transaction of $86,090.06. Following the completion of the transaction, the insider now directly owns 65,899 shares in the company, valued at approximately $987,167.02. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Kendall A. Kowalski sold 5,747 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total transaction of $86,090.06. Following the transaction, the insider now owns 65,899 shares in the company, valued at approximately $987,167.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Brendan A. Lawlor sold 9,050 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.06, for a total transaction of $136,293.00. Following the transaction, the vice president now directly owns 11,111 shares of the company’s stock, valued at approximately $167,331.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 123,900 shares of company stock worth $1,862,176. Insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

HBAN has been the subject of a number of research analyst reports. Jefferies Financial Group cut their target price on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Piper Sandler lifted their price objective on Huntington Bancshares from $11.50 to $13.50 and gave the company an “underweight” rating in a research report on Monday, July 22nd. Royal Bank of Canada upped their target price on Huntington Bancshares from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. cut their price target on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Finally, Argus boosted their price target on Huntington Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.47.

Huntington Bancshares Stock Performance

HBAN traded down $0.62 during trading on Friday, hitting $13.75. The stock had a trading volume of 19,146,484 shares, compared to its average volume of 20,486,328. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. Huntington Bancshares Incorporated has a 12 month low of $9.25 and a 12 month high of $15.24. The company has a 50 day simple moving average of $13.52 and a 200-day simple moving average of $13.37. The firm has a market cap of $19.97 billion, a PE ratio of 12.39, a P/E/G ratio of 2.94 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Friday, July 19th. The bank reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period in the previous year, the company posted $0.35 earnings per share. Analysts expect that Huntington Bancshares Incorporated will post 1.19 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be given a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.51%. 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.