J. Safra Sarasin Holding AG Takes $848,000 Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Key Points

• J. Safra Sarasin Holding AG purchased 56,525 shares of Huntington Bancshares, valued at approximately $848,000, during the first quarter.
• Huntington Bancshares declared a quarterly dividend of $0.155, payable on October 1st, representing an annualized yield of 3.8%.
• Analyst ratings for Huntington Bancshares vary, with firm upgrades and downgrades resulting in a current consensus rating of "Moderate Buy" and a price target of $18.68.

J. Safra Sarasin Holding AG acquired a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 56,525 shares of the bank's stock, valued at approximately $848,000.

Other large investors have also bought and sold shares of the company. Foundations Investment Advisors LLC lifted its position in Huntington Bancshares by 2.4% during the 1st quarter. Foundations Investment Advisors LLC now owns 29,023 shares of the bank's stock worth $436,000 after buying an additional 691 shares in the last quarter. Winch Advisory Services LLC raised its stake in shares of Huntington Bancshares by 18.3% during the 1st quarter. Winch Advisory Services LLC now owns 4,579 shares of the bank's stock worth $69,000 after purchasing an additional 709 shares in the last quarter. CreativeOne Wealth LLC boosted its holdings in shares of Huntington Bancshares by 4.0% in the 4th quarter. CreativeOne Wealth LLC now owns 20,019 shares of the bank's stock valued at $326,000 after buying an additional 762 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Huntington Bancshares by 5.5% in the first quarter. First Horizon Advisors Inc. now owns 16,073 shares of the bank's stock valued at $241,000 after buying an additional 844 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Huntington Bancshares by 4.0% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 21,835 shares of the bank's stock worth $328,000 after buying an additional 847 shares during the last quarter. 80.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on HBAN shares. Citigroup lifted their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. TD Cowen started coverage on shares of Huntington Bancshares in a report on Thursday, May 15th. They issued a "buy" rating and a $20.00 price objective on the stock. Wolfe Research raised shares of Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price target on the stock in a report on Thursday, July 3rd. Keefe, Bruyette & Woods reduced their target price on shares of Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating for the company in a research report on Monday, April 21st. Finally, Stephens reiterated an "equal weight" rating and set a $16.50 target price on shares of Huntington Bancshares in a research report on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.68.

Insider Activity

In other news, EVP Marcy C. Hingst sold 13,700 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $15.79, for a total transaction of $216,323.00. Following the completion of the sale, the executive vice president directly owned 337,879 shares in the company, valued at $5,335,109.41. This represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.89% of the stock is owned by company insiders.

Huntington Bancshares Trading Down 1.0%

Shares of Huntington Bancshares stock traded down $0.16 during trading on Wednesday, hitting $16.04. The company's stock had a trading volume of 28,252,880 shares, compared to its average volume of 39,991,564. The stock has a market cap of $23.40 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 0.83 and a beta of 0.93. Huntington Bancshares Incorporated has a 52 week low of $11.91 and a 52 week high of $18.44. The stock has a 50-day moving average price of $16.46 and a two-hundred day moving average price of $15.73. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 17th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Wednesday, September 17th. Huntington Bancshares's dividend payout ratio (DPR) is 45.93%.

Huntington Bancshares declared that its board has initiated a share buyback plan on Thursday, April 17th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the bank to buy up to 5% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Huntington Bancshares 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.