Alpha Cubed Investments LLC Cuts Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Alpha Cubed Investments LLC lessened its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,629 shares of the bank’s stock after selling 1,744 shares during the period. Alpha Cubed Investments LLC’s holdings in Huntington Bancshares were worth $530,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. purchased a new stake in Huntington Bancshares during the 4th quarter worth approximately $29,000. Planned Solutions Inc. purchased a new stake in Huntington Bancshares during the 4th quarter worth approximately $33,000. Authentikos Wealth Advisory LLC purchased a new stake in Huntington Bancshares during the 3rd quarter worth approximately $35,000. Baker Avenue Asset Management LP increased its stake in Huntington Bancshares by 31.8% during the 3rd quarter. Baker Avenue Asset Management LP now owns 3,992 shares of the bank’s stock worth $42,000 after buying an additional 963 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Huntington Bancshares during the 3rd quarter worth approximately $51,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. UBS Group upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $15.00 in a research note on Wednesday, February 14th. Morgan Stanley reiterated an “overweight” rating and issued a $16.00 price objective on shares of Huntington Bancshares in a research report on Monday, April 22nd. Jefferies Financial Group upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and increased their price objective for the stock from $14.00 to $16.00 in a research report on Monday, April 8th. Evercore ISI increased their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Finally, Barclays upgraded Huntington Bancshares from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $12.00 to $15.00 in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.17.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 30,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total value of $409,800.00. Following the sale, the chief financial officer now directly owns 305,884 shares in the company, valued at $4,178,375.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Huntington Bancshares news, VP Julie C. Tutkovics sold 15,541 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total transaction of $197,059.88. Following the transaction, the vice president now owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Zachary Jacob Wasserman sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total value of $409,800.00. Following the transaction, the chief financial officer now directly owns 305,884 shares in the company, valued at approximately $4,178,375.44. The disclosure for this sale can be found here. Insiders have sold a total of 169,489 shares of company stock worth $2,286,999 over the last ninety days. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Down 0.7 %

Shares of NASDAQ HBAN opened at $13.47 on Wednesday. The stock has a market cap of $19.51 billion, a P/E ratio of 12.14, a PEG ratio of 2.51 and a beta of 1.11. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. Huntington Bancshares Incorporated has a 12-month low of $9.13 and a 12-month high of $14.07. The business’s fifty day simple moving average is $13.38 and its 200-day simple moving average is $12.31.

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

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend is Friday, June 14th. Huntington Bancshares’s dividend payout ratio is presently 55.86%.

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.