Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Bought by Brookstone Capital Management

VaselineOctober 10, 2024

0 5 minutes read

Brookstone Capital Management raised its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 684,679 shares of the bank’s stock after acquiring an additional 10,464 shares during the period. Brookstone Capital Management’s holdings in Huntington Bancshares were worth $10,065,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. WealthShield Partners LLC raised its position in shares of Huntington Bancshares by 5.9% in the second quarter. WealthShield Partners LLC now owns 12,237 shares of the bank’s stock valued at $163,000 after purchasing an additional 683 shares during the last quarter. Foundations Investment Advisors LLC raised its stake in shares of Huntington Bancshares by 3.2% in the second quarter. Foundations Investment Advisors LLC now owns 23,647 shares of the bank’s stock valued at $312,000 after purchasing an additional 744 shares during the last quarter. Summit Financial Strategies Inc. raised its holdings in Huntington Bancshares by 2.5% during the 2nd quarter. Summit Financial Strategies Inc. now owns 30,955 shares of the bank’s stock worth $408,000 after buying an additional 762 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Huntington Bancshares by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 157,152 shares of the bank’s stock worth $2,192,000 after acquiring an additional 780 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its holdings in shares of Huntington Bancshares by 1.3% in the first quarter. Park Avenue Securities LLC now owns 63,098 shares of the bank’s stock valued at $880,000 after acquiring an additional 794 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s shares.

Analysts set new price targets

HBAN has been the subject of several analyst research reports. Royal Bank of Canada upped their target price on Huntington Bancshares from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. StockNews.com lowered shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, September 2nd. Keefe, Bruyette & Woods dropped their price objective on shares of Huntington Bancshare from $15.00 to $14.50 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Argus raised their target price on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Robert W. Baird downgraded Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 target price on the stock. in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Moderate Buy” and an average target price of $15.71, based on data from MarketBeat.

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Huntington Bancshares rose 1.4%

Shares of NASDAQ HBAN opened at $14.94 on Thursday. The stock has a market cap of $21.65 billion, a PE ratio of 13.46, a P/E/G ratio of 3.07 and a beta of 1.04. The company has a quick ratio of 0.88, a current ratio of 0.89, and a debt-to-equity ratio of 0.96. The firm has a fifty day moving average of $14.31 and a 200 day moving average of $13.85. Huntington Bancshares Incorporated has a 52-week low of $9.25 and a 52-week high of $15.24.

Huntington Bancshares (NASDAQ:HBAN – Get Your Free Report ) last issued 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 company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period last year, the business posted EPS of $0.35. On average, analysts anticipate that Huntington Bancshares Incorporated will post 1.19 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were paid a $0.155 dividend. This represents a dividend of $0.62 on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Tuesday, September 17th. Huntington Bancshares’ dividend yield is currently 55.86%.

Insiders place their bets

In other news, CFO Zachary Jacob Wasserman sold 33,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the transaction, the chief financial officer now directly owns 265,809 shares in the company, valued at approximately $4,021,690.17. This represents a 0.00 % decrease in ownership of the shares. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. In other Huntington Bancshares news, insider Helga Houston sold 11,288 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.02, for a total transaction of $169,545.76. Following the transaction, the insider now owns 618,832 shares of the company’s stock, valued at $9,294,856.64. This trade represents a 0.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, CFO Zachary Jacob Wasserman sold 33,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.13, for a total transaction of $499,290.00. Following the sale, the chief financial officer now owns 265,809 shares of the company’s stock, valued at approximately $4,021,690.17. The trade was a 0.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 116,622 shares of company stock valued at $1,762,904 over the last quarter. 0.89% of shares are owned by corporate insiders.

Huntington Bancshares Company Profile

(Free report)

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank, which provides commercial, consumer and mortgage banking services in the United States. The Company provides financial products and services to consumer and business customers, including deposits, loans, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance and other financial products and services.