Octavia Wealth Advisors LLC Sells 6,625 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Octavia Wealth Advisors LLC reduced its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 34.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,363 shares of the bank’s stock after selling 6,625 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Huntington Bancshares were worth $203,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Asset Dedication LLC raised its holdings in Huntington Bancshares by 200.7% in the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after purchasing an additional 1,202 shares in the last quarter. Peoples Bank KS bought a new position in Huntington Bancshares in the third quarter worth about $29,000. Future Financial Wealth Managment LLC purchased a new stake in Huntington Bancshares in the third quarter worth about $31,000. Fortitude Family Office LLC bought a new stake in Huntington Bancshares during the 3rd quarter valued at approximately $32,000. Finally, UMB Bank n.a. grew its holdings in shares of Huntington Bancshares by 19.1% during the 3rd quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock worth $67,000 after acquiring an additional 728 shares during the period. Institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on HBAN shares. Evercore ISI lifted their price target on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. DA Davidson upped their target price on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research report on Monday, October 21st. Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 price objective on shares of Huntington Bancshares in a report on Tuesday. Finally, Piper Sandler lowered their target price on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.06.

Insiders Place Their Bets

In related news, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the transaction, the vice president now directly owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the sale, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at $4,582,795.09. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $16.86 on Thursday. The stock has a market capitalization of $24.49 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 2.64 and a beta of 1.07. Huntington Bancshares Incorporated has a 1-year low of $12.05 and a 1-year high of $18.44. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The business’s fifty day moving average price is $17.02 and its 200-day moving average price is $15.55.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same period in the previous year, the business earned $0.27 EPS. On average, equities analysts predict that Huntington Bancshares Incorporated will post 1.37 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.68%. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

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.