1,976,893 Shares in Huntington Bancshares Incorporated $HBAN Purchased by Strs Ohio

Key Points

• Strs Ohio has acquired nearly 2 million shares of Huntington Bancshares, valued at approximately $29.7 million, increasing their stake to about 0.14% of the company.
• Several hedge funds significantly increased their holdings in Huntington Bancshares during the first quarter, including AQR Capital Management with a 274.9% increase and Invesco Ltd. with an 8.7% increase.
• The stock has reportedly received positive ratings from several analysts, with Wolfe Research upgrading it to "outperform" and setting a target price of $21.00, reflecting overall optimism about its future performance.

Strs Ohio acquired a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,976,893 shares of the bank's stock, valued at approximately $29,673,000. Strs Ohio owned approximately 0.14% of Huntington Bancshares at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HBAN. AQR Capital Management LLC increased its position in Huntington Bancshares by 274.9% during the 1st quarter. AQR Capital Management LLC now owns 10,758,669 shares of the bank's stock worth $157,292,000 after purchasing an additional 7,889,004 shares in the last quarter. Invesco Ltd. increased its position in Huntington Bancshares by 8.7% during the 1st quarter. Invesco Ltd. now owns 57,186,593 shares of the bank's stock worth $858,371,000 after purchasing an additional 4,586,607 shares in the last quarter. Amundi increased its position in Huntington Bancshares by 26.2% during the 1st quarter. Amundi now owns 22,011,639 shares of the bank's stock worth $330,395,000 after purchasing an additional 4,576,432 shares in the last quarter. Nuveen LLC purchased a new stake in Huntington Bancshares during the 1st quarter worth about $50,078,000. Finally, Deutsche Bank AG increased its position in Huntington Bancshares by 47.7% during the 1st quarter. Deutsche Bank AG now owns 8,870,393 shares of the bank's stock worth $133,145,000 after purchasing an additional 2,865,727 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Wolfe Research raised Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price target on the stock in a research note on Thursday, July 3rd. TD Cowen assumed coverage on Huntington Bancshares in a research note on Thursday, May 15th. They issued a "buy" rating and a $20.00 price target on the stock. Wall Street Zen lowered Huntington Bancshares from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. DA Davidson raised their price target on Huntington Bancshares from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Finally, Citigroup raised their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.74.

Huntington Bancshares Trading Up 0.5%

Shares of HBAN stock opened at $17.74 on Friday. Huntington Bancshares Incorporated has a fifty-two week low of $11.91 and a fifty-two week high of $18.44. The firm's 50 day moving average price is $17.00 and its two-hundred day moving average price is $15.78. The stock has a market cap of $25.88 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.92.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 17th. Huntington Bancshares's dividend payout ratio (DPR) is currently 45.93%.

Insider Activity at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 41,100 shares of the business's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $18.00, for a total transaction of $739,800.00. Following the transaction, the executive vice president directly owned 299,361 shares of the company's stock, valued at approximately $5,388,498. The trade was a 12.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.89% of the company's stock.

Huntington Bancshares Company Profile

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.

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