Summit Financial Strategies Inc. Has $408,000 Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Summit Financial Strategies Inc. boosted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 2.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,955 shares of the bank’s stock after buying an additional 762 shares during the quarter. Summit Financial Strategies Inc.’s holdings in Huntington Bancshares were worth $408,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Simplicity Solutions LLC boosted its holdings in shares of Huntington Bancshares by 3.2% during the 4th quarter. Simplicity Solutions LLC now owns 51,423 shares of the bank’s stock valued at $654,000 after acquiring an additional 1,598 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Huntington Bancshares in the fourth quarter valued at approximately $1,114,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Huntington Bancshares by 0.9% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,114,663 shares of the bank’s stock valued at $52,339,000 after buying an additional 35,395 shares during the last quarter. SVB Wealth LLC raised its stake in shares of Huntington Bancshares by 51.1% during the fourth quarter. SVB Wealth LLC now owns 17,415 shares of the bank’s stock valued at $222,000 after acquiring an additional 5,889 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Huntington Bancshares by 352.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,093,173 shares of the bank’s stock worth $13,905,000 after purchasing an additional 851,751 shares during the period. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Up 0.9 %

Shares of NASDAQ HBAN traded up $0.13 during midday trading on Friday, hitting $13.90. 10,559,553 shares of the stock traded hands, compared to its average volume of 17,190,285. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares Incorporated has a one year low of $9.25 and a one year high of $15.24. The business has a 50 day moving average price of $13.51 and a two-hundred day moving average price of $13.43. The company has a market cap of $20.14 billion, a PE ratio of 12.52, a P/E/G ratio of 2.94 and a beta of 1.06.

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

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors 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 yield of 4.46%. Huntington Bancshares’s payout ratio is 55.86%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on HBAN shares. UBS Group lowered their target price on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, June 13th. Keefe, Bruyette & Woods reduced their target price on Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday. Evercore ISI decreased their price objective on shares of Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Finally, Citigroup boosted their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a report 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $15.59.

Insider Buying and Selling at Huntington Bancshares

In related news, VP Brendan A. Lawlor sold 9,050 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.06, for a total transaction of $136,293.00. Following the completion of the sale, the vice president now owns 11,111 shares in the company, valued at $167,331.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Brendan A. Lawlor sold 9,050 shares of the firm’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 $167,331.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Helga Houston sold 11,288 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $15.02, for a total transaction of $169,545.76. Following the completion of the sale, the insider now directly owns 618,832 shares of the company’s stock, valued at $9,294,856.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 123,900 shares of company stock worth $1,862,176. Insiders own 0.89% of the company’s stock.

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.