The most recent Form 13F filing that Larson Financial Group LLC had with the SEC revealed that during the third quarter, the company increased the amount of Huntington Bancshares Incorporated (NASDAQ: HBAN) that it held in its portfolio by 3,206.5%. The institutional investor’s portfolio currently consists of 126,307 shares of the bank’s stock after the investor has made additional purchases amounting to 122,487 shares over time. After the most recent accounting period, Larson Financial Group LLC held 1,665,000 shares of Huntington Bancshares.
A significant number of important additional investors have recently changed the proportion of the company’s shares they own. By purchasing additional shares of Huntington Bancshares, Equitable Trust Company could invest approximately $200,000 in the company during the third quarter. Barclays PLC increased the amount of Huntington Bancshares stock owned in the third quarter by 12.0%, bringing its total ownership percentage to 100%. Barclays PLC increased its holdings in the bank’s stock by 2,592,104 shares during the most recent quarter by purchasing an additional 278,264 shares. The current market price of one share of the bank’s stock is estimated to be $34,165,000. The First National Trust Company was required to make an additional payment of 7.5% during the third quarter for the privilege of holding Huntington Bancshares. First National Trust Co. now has a total of 359,833 shares of the bank’s stock, collectively valued at $4,743,000. This was accomplished by the purchase of an additional 25,002 shares throughout the period. Ellevest Inc. increased the percentage of Huntington Bancshares in which it was invested by 10.7% during the third quarter. The total value of the shares held by Ellevest Inc. has increased to $270,000 due to the increase in the number of shares held, which has increased to 20,517. The company’s holdings in the bank’s stock have increased by 1,982 shares due to the company’s recent investment. Last but certainly not least, Daiwa Securities Group Inc. increased the proportion of Huntington Bancshares that it owns in its portfolio by 3.7% during the third quarter. Following the acquisition of an additional 3,419 shares during the prior period, Daiwa Securities Group Inc. now possesses 95,634 shares of the bank’s stock, collectively valued at $1,260,000. Institutions currently hold control over 80.43 percent of the company’s total shares.
The price of an individual share of HBAN fell by $0.22 on Thursday, bringing the total price to $13.85. Compared to the company’s average daily volume of 13,243,458 shares traded, the number of shares that changed hands was 577,121, which is a significant decrease. The market capitalization of the company is currently sitting at $19.98 billion. At the same time, its price-to-earnings ratio stands at 10.81, its price-to-earnings-to-growth ratio sits at 0.44, and its beta stands at 1.12. These metrics point to the fact that the stock trades at a premium relative to its peers. The current share price of the company’s stock is $14.56, which is higher than the 200-day moving average price of $13.96. A debt-to-equity ratio comes in at 0.68; a quick ratio comes in at 0.83; a current ratio comes in at 0.84; and a quick ratio comes in at 0.83. Over the previous year, the price of Huntington Bancshares Incorporated has fluctuated between $11.67 and $17.56. The price reached a low of $11.67 and a high of $17.56.
Friday, October 21, saw the release of the most recent earnings report for Huntington Bancshares (NASDAQ: HBAN), which was made available to the general public. The earnings per share (EPS) for the bank’s performance during the quarter came in at $0.39, which was $0.01 higher than the average estimate of $0.38 obtained from market experts. The actual amount earned for the period was $1.91 billion, significantly higher than the consensus estimate of $1.84 billion in revenue. According to the company’s financial statements, Huntington Bancshares had a return on equity of 13.76 percent and a net margin of 27.34 percent. In the same period as the previous year, the corporation made a profit of $0.35 for every share it distributed. This was reported for the prior year. During the current fiscal year, equity research professionals anticipate that Huntington Bancshares Incorporated will bring in a profit of $1.47 for each share of common stock that it issues.
Additionally, on January 3, the company announced and distributed a quarterly dividend, which was then paid to shareholders. The payment of dividends to shareholders of record took place on December 19 at a rate of $0.155 per share, and the record date for dividends was December 19. On Friday, December 16, shareholders did not receive a portion of this dividend because it had already been distributed. When figured out on an annualized basis, this translates to a dividend payment of $0.62 per share and a yield of 4.48% for the investment. In the case of Huntington Bancshares, the payout ratio comes in at 48.06 percent.
Recent press releases have included commentary from several equity research analysts regarding their thoughts on the company’s shares. The price target Stephens set for Huntington Bancshares has increased from $15.00 to $16.00, as stated in a research note published on October 24. Despite this change, the brokerage firm assigned the company a rating of “equal weight” rather than “overweight.” Morgan Stanley changed its rating for the shares of Huntington Bancshares from “equal weight” to “overweight” in a research report released on December 5. In addition, they increased the price at which they anticipate the stock will reach from $16.00 to $19.00. These two moves were executed simultaneously. Raymond James upgraded their rating on Huntington Bancshares from “strong-buy” to “buy” in a report released on Monday, October 24, and they raised their price target for the company’s stock from $17.00 to $18.00. Both of these changes were reflected in raising the price target for the stock. Wolfe Research increased its price target for Huntington Bancshares from $13.00 to $14.00 in a report released on Thursday, December 1. In a report released on Tuesday, December 13, JPMorgan Chase & Co. lowered their target price on Huntington Bancshares from $15.50 down to $14.50.
Additionally, they downgraded the stock from a “neutral” rating to an “underweight” rating. There have been three research analysts who have recommended selling the stock, seven research analysts who have given it a rating of “hold,” four research analysts who have given it a rating of “buy,” and one research analyst who has given it a rating of “strong buy.” Bloomberg.com reports that most market analysts currently have a “hold” rating for the company and that their stock price objective is $15.60.
On November 29, Vice President Michael Scott Jones sold 50,000 shares of the company’s stock. This development is relevant to the discussion because it pertains to the topic. The market saw a total of $762,500 worth of shares traded at an average price of $15.25 per share, making the total value of shares traded in the market $762,500. Following the successful conclusion of the transaction, the vice president is now the direct owner of 52,647 shares of the company, each of which has a value of $802,866.75 at present. If you follow this link, you will be taken to the filing submitted to the Securities and Exchange Commission, where the transaction was discussed, and it will take you there immediately. On November 29, Vice President Michael Scott Jones sold 50,000 shares of the company’s stock. This development is relevant to the discussion because it pertains to the topic. The market saw a total of $762,500 worth of shares traded at an average price of $15.25 per share, making the total value of shares traded in the market $762,500. Following the successful conclusion of the transaction, the vice president is now the direct owner of 52,647 shares of the company, each of which has a value of $802,866.75 at present. If you follow this link, you will be taken to the filing submitted to the Securities and Exchange Commission, where the transaction was discussed, and it will take you there immediately.
Additionally, on November 7, 9,749 shares of the company’s stock were sold by Scott D. Kleinman, who serves as the company’s vice president. The total cost of the transaction was $151,109.50, which works out to an average price of $15.50 per share when applied to the acquisition of the shares. The transaction resulted in the company’s vice president acquiring 214,477 shares of the company’s stock. The total value of these shares is $3,324,393.50. Disclosures that are related to the sale might be found in this section of the website. In the most recent quarter, company insiders offloaded 87,804 shares, which resulted in the receipt of $1,346,779 and represented 0.72 percent of the company’s total equity.