SouthState Bank Corp grew its position in Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report) by 19,902.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 131,819 shares of the bank’s stock after buying an additional 131,160 shares during the period. SouthState Bank Corp’s holdings in Huntington Bancshares were worth $2,063,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the company. Sigma Planning Corp raised its stake in Huntington Bancshares by 330.8% during the 1st quarter. Sigma Planning Corp now owns 73,653 shares of the bank’s stock worth $1,161,000 after buying an additional 56,556 shares during the period. Checchi Capital Advisers LLC grew its stake in Huntington Bancshares by 17.3% in the first quarter. Checchi Capital Advisers LLC now owns 24,396 shares of the bank’s stock valued at $382,000 after acquiring an additional 3,591 shares during the period. Maryland State Retirement & Pension System grew its stake in Huntington Bancshares by 25.8% in the first quarter. Maryland State Retirement & Pension System now owns 100,669 shares of the bank’s stock valued at $1,575,000 after acquiring an additional 20,621 shares during the period. Hartford Funds Management Co LLC bought a new stake in shares of Huntington Bancshares in the first quarter worth about $509,000. Finally, ABC Arbitrage SA bought a new stake in shares of Huntington Bancshares in the first quarter worth about $1,017,000. Institutional investors own 80.72% of the company’s stock.
Huntington Bancshares Stock Performance
Shares of NASDAQ HBAN opened at $18.12 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a 50 day moving average price of $16.81 and a 200 day moving average price of $16.91. The stock has a market capitalization of $36.73 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 0.80 and a beta of 0.93. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45.
Huntington Bancshares Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th were paid a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.4%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.69%.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on HBAN. Barclays cut Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. UBS Group raised their target price on shares of Huntington Bancshares from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Piper Sandler raised shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price target on the stock in a research note on Thursday, April 23rd. Royal Bank Of Canada upped their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Finally, Stephens started coverage on shares of Huntington Bancshares in a research report on Monday, June 15th. They set an “equal weight” rating and a $19.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.
Get Our Latest Analysis on Huntington Bancshares
Insiders Place Their Bets
In other news, EVP Marcy C. Hingst sold 10,568 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $190,224.00. Following the transaction, the executive vice president directly owned 267,859 shares in the company, valued at $4,821,462. The trade was a 3.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the sale, the director directly owned 612,155 shares in the company, valued at approximately $10,620,889.25. The trade was a 26.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have purchased 33,500 shares of company stock worth $617,542. 0.67% of the stock is owned by corporate insiders.
Huntington Bancshares Company Profile
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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