Silverleafe Capital Partners LLC Takes Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Silverleafe Capital Partners LLC purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 83,970 shares of the bank's stock, valued at approximately $1,171,000.

Several other institutional investors have also modified their holdings of HBAN. Future Financial Wealth Managment LLC acquired a new stake in Huntington Bancshares in the first quarter worth about $29,000. Wetzel Investment Advisors Inc. acquired a new stake in Huntington Bancshares in the fourth quarter worth about $29,000. Nemes Rush Group LLC lifted its holdings in Huntington Bancshares by 140.9% in the fourth quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank's stock worth $30,000 after purchasing an additional 1,391 shares during the period. Planned Solutions Inc. acquired a new stake in Huntington Bancshares in the fourth quarter worth about $33,000. Finally, Register Financial Advisors LLC acquired a new stake in Huntington Bancshares in the 1st quarter valued at about $40,000. Institutional investors own 80.72% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on HBAN shares. Piper Sandler downgraded shares of Huntington Bancshares from a "neutral" rating to an "underweight" rating and cut their price target for the company from $13.50 to $11.50 in a report on Friday, June 14th. Morgan Stanley cut their price target on shares of Huntington Bancshares from $16.00 to $15.00 and set an "overweight" rating for the company in a report on Wednesday, June 12th. Evercore ISI cut their price target on shares of Huntington Bancshares from $16.50 to $15.00 and set an "outperform" rating for the company in a report on Tuesday. JPMorgan Chase & Co. cut their price target on shares of Huntington Bancshares from $17.00 to $16.50 and set an "overweight" rating for the company in a report on Thursday. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $16.00 price target on shares of Huntington Bancshares in a report on Tuesday, June 11th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, ten 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 has an average rating of "Moderate Buy" and an average target price of $15.03.

Huntington Bancshares Stock Up 3.1 %

Shares of HBAN traded up $0.40 during trading hours on Friday, reaching $13.18. The company's stock had a trading volume of 30,708,852 shares, compared to its average volume of 19,637,602. The firm has a market cap of $19.10 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 2.41 and a beta of 1.08. Huntington Bancshares Incorporated has a 1-year low of $9.25 and a 1-year high of $14.30. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88. The company has a 50 day moving average of $13.42 and a two-hundred day moving average of $13.15.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.03. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same quarter in the prior year, the company earned $0.38 EPS. As a group, research analysts predict that Huntington Bancshares Incorporated will post 1.19 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed 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 Monday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 4.70%. Huntington Bancshares's dividend payout ratio is currently 55.86%.

Insider Buying and Selling

In related news, VP Brantley J. Standridge sold 50,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total value of $680,000.00. Following the transaction, the vice president now owns 385,409 shares in the company, valued at $5,241,562.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Brantley J. Standridge sold 50,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total value of $680,000.00. Following the transaction, the vice president now owns 385,409 shares in the company, valued at $5,241,562.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kendall A. Kowalski sold 15,711 shares of the company's stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $13.84, for a total value of $217,440.24. Following the sale, the insider now directly owns 65,195 shares of the company's stock, valued at approximately $902,298.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 157,829 shares of company stock worth $2,148,623. Insiders own 0.89% of the company's stock.

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.