Apollon Wealth Management LLC Invests $232,000 in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Apollon Wealth Management LLC bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 15,790 shares of the bank’s stock, valued at approximately $232,000.

A number of other institutional investors have also added to or reduced their stakes in HBAN. Asset Dedication LLC boosted its stake in Huntington Bancshares by 200.7% during the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after buying an additional 1,202 shares in the last quarter. Peoples Bank KS acquired a new stake in shares of Huntington Bancshares during the 3rd quarter valued at about $29,000. Hazlett Burt & Watson Inc. increased its stake in Huntington Bancshares by 695.5% in the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after acquiring an additional 2,003 shares during the period. Future Financial Wealth Managment LLC acquired a new position in Huntington Bancshares in the third quarter worth about $31,000. Finally, Fortitude Family Office LLC bought a new position in Huntington Bancshares during the third quarter worth about $32,000. 80.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HBAN. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Sandler O’Neill restated a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. Citigroup increased their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Morgan Stanley boosted their price target on shares of Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, Robert W. Baird lowered shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective for the company. in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average target price of $16.09.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $17.80 on Tuesday. The stock has a market cap of $25.86 billion, a price-to-earnings ratio of 17.12, a P/E/G ratio of 3.53 and a beta of 1.03. Huntington Bancshares Incorporated has a 12-month low of $10.73 and a 12-month high of $17.97. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. The business’s 50-day simple moving average is $15.45 and its 200 day simple moving average is $14.36.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the company earned $0.36 EPS. As a group, research analysts anticipate that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 59.62%.

Insider Transactions at Huntington Bancshares

In other news, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the transaction, the insider now directly owns 558,342 shares of the company’s stock, valued at $8,615,217.06. This trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were 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 owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,699 shares of company stock worth $757,356 in the last three months. 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.