Octavia Wealth Advisors LLC Cuts Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Octavia Wealth Advisors LLC trimmed its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 34.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 12,363 shares of the bank’s stock after selling 6,625 shares during the period. Octavia Wealth Advisors LLC’s holdings in Huntington Bancshares were worth $203,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp lifted its holdings in Huntington Bancshares by 10.3% in the 3rd quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after purchasing an additional 7,439,909 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Huntington Bancshares by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock worth $921,778,000 after buying an additional 1,522,767 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Huntington Bancshares by 1.3% during the third quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock worth $540,422,000 after acquiring an additional 473,893 shares during the last quarter. FMR LLC grew its stake in Huntington Bancshares by 16.8% during the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock valued at $348,672,000 after acquiring an additional 3,410,597 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Huntington Bancshares by 13.2% in the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after acquiring an additional 2,363,988 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

Shares of HBAN stock opened at $16.86 on Thursday. The stock has a 50 day moving average price of $17.02 and a 200 day moving average price of $15.55. The firm has a market capitalization of $24.49 billion, a P/E ratio of 13.71, a P/E/G ratio of 2.64 and a beta of 1.07. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares Incorporated has a 52-week low of $12.05 and a 52-week high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter last year, the company earned $0.27 earnings per share. As a group, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.37 earnings per share for the current year.

Huntington Bancshares Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on HBAN shares. Barclays raised their price objective on Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Evercore ISI lifted their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods increased their target price on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price target on shares of Huntington Bancshares in a research note on Tuesday. Finally, Stephens reissued an “equal weight” rating and issued a $18.50 price objective on shares of Huntington Bancshares in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.06.

Insider Activity

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the transaction, the vice president now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the sale, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at $4,582,795.09. The trade was 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.

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.