Huntington Bancshares Incorporated $HBAN Shares Sold by Aberdeen Group plc

Key Points

• Aberdeen Group plc reduced its stake in Huntington Bancshares by 66.8%, selling 2,378,004 shares and now holds 1,184,304 shares valued at approximately $17.57 million.
• Huntington Bancshares recently announced a quarterly dividend of $0.155 per share, translating to an annualized yield of 3.7%.
• Analysts have mixed ratings for Huntington Bancshares, with a total of two sell ratings, three holds, and fifteen buy ratings, establishing a consensus rating of "Moderate Buy."

Aberdeen Group plc lessened its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 66.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,184,304 shares of the bank's stock after selling 2,378,004 shares during the quarter. Aberdeen Group plc owned 0.08% of Huntington Bancshares worth $17,569,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Huntington Bancshares during the 1st quarter worth approximately $29,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of Huntington Bancshares during the 1st quarter worth approximately $31,000. Golden State Wealth Management LLC boosted its stake in shares of Huntington Bancshares by 516.3% during the 1st quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock worth $33,000 after acquiring an additional 1,869 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Huntington Bancshares during the 1st quarter worth approximately $39,000. Finally, TruNorth Capital Management LLC purchased a new stake in shares of Huntington Bancshares during the 1st quarter worth approximately $40,000. Hedge funds and other institutional investors own 80.72% of the company's stock.

Huntington Bancshares Trading Up 4.2%

HBAN traded up $0.70 during trading on Friday, hitting $17.36. The company's stock had a trading volume of 30,878,382 shares, compared to its average volume of 28,155,882. The firm's 50 day moving average price is $16.63 and its 200-day moving average price is $15.67. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market cap of $25.32 billion, a PE ratio of 12.86, a PEG ratio of 0.89 and a beta of 0.93. Huntington Bancshares Incorporated has a twelve month low of $11.91 and a twelve month high of $18.44.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 17th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, September 17th. This represents a $0.62 annualized dividend and a yield of 3.6%. Huntington Bancshares's payout ratio is 45.93%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on HBAN shares. DA Davidson boosted 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. Citigroup boosted 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. Truist Financial boosted their price target on Huntington Bancshares from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Jefferies Financial Group started coverage on Huntington Bancshares in a research report on Wednesday, May 21st. They set a "buy" rating and a $20.00 price objective for the company. Finally, Cowen started coverage on Huntington Bancshares in a research report on Wednesday, May 14th. They set a "buy" rating for the company. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Huntington Bancshares has an average rating of "Moderate Buy" and an average target price of $18.68.

Insiders Place Their Bets

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 13,700 shares of the business's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $15.79, for a total value of $216,323.00. Following the completion of the transaction, the executive vice president directly owned 337,879 shares in the company, valued at approximately $5,335,109.41. The trade was a 3.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.89% of the company's stock.

About Huntington Bancshares

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.