Stoneridge Investment Partners LLC bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report) during the second quarter, Holdings Channel reports. The institutional investor bought 61,054 shares of the bank’s stock, valued at approximately $1,040,000.
Several other hedge funds also recently bought and sold shares of HBAN. Wellington Management Group LLP raised its stake in shares of Huntington Bancshares by 4,265.5% during the 4th quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock worth $1,215,955,000 after purchasing an additional 68,478,435 shares in the last quarter. Norges Bank bought a new stake in shares of Huntington Bancshares in the 4th quarter valued at approximately $432,584,000. Vanguard Group Inc. grew its stake in shares of Huntington Bancshares by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock valued at $3,319,385,000 after buying an additional 14,338,222 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Huntington Bancshares by 27.2% in the first quarter. Dimensional Fund Advisors LP now owns 23,480,601 shares of the bank’s stock worth $367,388,000 after buying an additional 5,026,894 shares during the last quarter. Finally, Amundi increased its holdings in Huntington Bancshares by 30.7% in the first quarter. Amundi now owns 19,502,547 shares of the bank’s stock worth $305,215,000 after buying an additional 4,578,566 shares during the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.
Huntington Bancshares Stock Up 0.8%
HBAN stock opened at $17.91 on Friday. The stock has a market capitalization of $36.19 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 0.85 and a beta of 0.94. The company has a 50-day moving average of $17.56 and a two-hundred day moving average of $16.88. Huntington Bancshares Incorporated has a 52-week low of $14.89 and a 52-week high of $19.45. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.92 and a quick ratio of 0.91.
Huntington Bancshares Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 17th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Thursday, September 17th. Huntington Bancshares’s payout ratio is currently 48.06%.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the stock. Evercore reaffirmed an “outperform” rating and set a $21.00 price objective on shares of Huntington Bancshares in a research report on Monday, July 6th. Morgan Stanley restated an “equal weight” rating and set a $19.00 price target (down from $21.00) on shares of Huntington Bancshares in a research note on Friday, July 24th. Weiss Ratings upgraded shares of Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, July 6th. JPMorgan Chase & Co. lifted their price objective on shares of Huntington Bancshares from $18.50 to $19.50 and gave the company an “overweight” rating in a research note on Monday, July 6th. Finally, Piper Sandler upgraded shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price objective for the company in a report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.11.
View Our Latest Stock Analysis on Huntington Bancshares
Insiders Place Their Bets
In other news, insider Kendall A. Kowalski sold 27,971 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $17.20, for a total transaction of $481,101.20. Following the completion of the transaction, the insider directly owned 70,025 shares in the company, valued at $1,204,430. The trade was a 28.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marcy C. Hingst sold 10,568 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the completion of the sale, the executive vice president directly owned 267,859 shares of the company’s stock, valued at $4,821,462. This represents a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have acquired 22,000 shares of company stock valued at $401,219 and have sold 262,061 shares valued at $4,549,432. Company insiders own 0.67% of the company’s stock.
About Huntington Bancshares
Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.
Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.
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