Equitable Holdings Inc. acquired a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 61,642 shares of the bank’s stock, valued at approximately $1,093,000.
Other hedge funds have also added to or reduced their stakes in the company. First Bancorp Inc ME acquired a new position in Huntington Bancshares in the 2nd quarter valued at approximately $389,000. MV Capital Management Inc. acquired a new position in shares of Huntington Bancshares during the fourth quarter worth $25,000. Palisade Asset Management LLC acquired a new position in shares of Huntington Bancshares during the third quarter worth $26,000. Centennial Bank AR bought a new stake in shares of Huntington Bancshares in the fourth quarter worth $28,000. Finally, Trust Co. of Vermont bought a new stake in shares of Huntington Bancshares in the second quarter worth $29,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.
Huntington Bancshares Stock Performance
Shares of Huntington Bancshares stock opened at $16.92 on Friday. The business has a 50-day moving average price of $17.59 and a two-hundred day moving average price of $16.82. Huntington Bancshares Incorporated has a 1-year low of $14.89 and a 1-year high of $19.45. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.63. The company has a market cap of $34.19 billion, a P/E ratio of 13.12, a PEG ratio of 0.80 and a beta of 0.94.
Huntington Bancshares Announces Dividend
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 paid a $0.155 dividend. The ex-dividend date of this dividend is Thursday, September 17th. This represents a $0.62 annualized dividend and a yield of 3.7%. Huntington Bancshares’s payout ratio is 48.06%.
Analyst Upgrades and Downgrades
HBAN has been the subject of several analyst reports. Wall Street Zen raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, July 6th. Jefferies Financial Group set a $18.00 price target on Huntington Bancshares in a research note on Thursday, July 23rd. Truist Financial lifted their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Finally, Robert W. Baird raised their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.24.
Read Our Latest Analysis on Huntington Bancshares
Insiders Place Their Bets
In other Huntington Bancshares news, Director James D. Rollins III sold 223,522 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the transaction, the director directly owned 612,155 shares in the company, valued at approximately $10,620,889.25. This represents a 26.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Marcy C. Hingst sold 10,568 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $18.00, for a total transaction of $190,224.00. Following the sale, the executive vice president directly owned 267,859 shares of the company’s stock, valued at approximately $4,821,462. This trade represents a 3.80% decrease in their position. 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 worth $401,219 and have sold 262,061 shares worth $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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