Alliancebernstein L.P. Grows Position in Huntington Bancshares Incorporated $HBAN

Key Points

• Alliancebernstein L.P. has increased its holdings in Huntington Bancshares by 1.5%, acquiring an additional 27,100 shares, bringing its total ownership to approximately 1.8 million shares valued at $27.1 million.
• Huntington Bancshares declared a quarterly dividend of $0.155 per share, providing an annualized yield of 3.5%, with the dividend payout ratio currently at 45.93%.
• Analysts have varying ratings on Huntington Bancshares, with a consensus rating of "Moderate Buy" and a price target averaging $18.74, as some firms have upgraded their ratings recently.

Alliancebernstein L.P. grew its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 1.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,808,383 shares of the bank's stock after buying an additional 27,100 shares during the period. Alliancebernstein L.P. owned 0.12% of Huntington Bancshares worth $27,144,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Huntington Bancshares by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 173,956,974 shares of the bank's stock valued at $2,611,094,000 after buying an additional 978,565 shares during the period. Invesco Ltd. grew its stake in shares of Huntington Bancshares by 8.7% during the 1st quarter. Invesco Ltd. now owns 57,186,593 shares of the bank's stock valued at $858,371,000 after buying an additional 4,586,607 shares during the period. Victory Capital Management Inc. grew its stake in shares of Huntington Bancshares by 9.2% during the 1st quarter. Victory Capital Management Inc. now owns 23,828,775 shares of the bank's stock valued at $357,670,000 after buying an additional 2,003,683 shares during the period. Amundi boosted 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 during the period. Finally, Federated Hermes Inc. boosted its position in Huntington Bancshares by 2.5% during the 1st quarter. Federated Hermes Inc. now owns 20,103,485 shares of the bank's stock worth $301,753,000 after purchasing an additional 498,182 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HBAN has been the subject of a number of research reports. Citigroup upped their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. DA Davidson upped their price objective on shares of Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Wall Street Zen cut shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. Truist Financial upped 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 Friday. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $21.00 price objective (up from $18.00) on shares of Huntington Bancshares in a research report on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $18.79.

Huntington Bancshares Stock Performance

HBAN traded up $0.03 during trading on Friday, hitting $17.77. The stock had a trading volume of 21,708,807 shares, compared to its average volume of 24,835,348. The firm has a market cap of $25.92 billion, a PE ratio of 13.16, a P/E/G ratio of 0.86 and a beta of 0.97. Huntington Bancshares Incorporated has a 12 month low of $11.91 and a 12 month high of $18.44. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.92. The company has a 50 day simple moving average of $17.00 and a 200-day simple moving average of $15.80.

Huntington Bancshares Dividend Announcement

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

Insider Buying and Selling

In other news, EVP Marcy C. Hingst sold 41,100 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $18.00, for a total transaction of $739,800.00. Following the completion of the sale, the executive vice president owned 299,361 shares of the company's stock, valued at $5,388,498. This represents a 12.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.