Amundi Acquires 4,576,432 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• Amundi has increased its stake in Huntington Bancshares by 26.2%, owning over 22 million shares valued at approximately $330.4 million.
• The company declared a quarterly dividend of $0.155 per share with an annualized yield of 3.5%, payable on October 1st.
• Analysts have generally rated Huntington Bancshares positively, with a current consensus rating of "Moderate Buy" and an average price target of $18.74.

Amundi increased its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 26.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,011,639 shares of the bank's stock after purchasing an additional 4,576,432 shares during the period. Amundi owned 1.51% of Huntington Bancshares worth $330,395,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in HBAN. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Huntington Bancshares by 12.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 43,808 shares of the bank's stock worth $713,000 after purchasing an additional 5,022 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Huntington Bancshares in the 4th quarter worth approximately $28,859,000. Captrust Financial Advisors increased its position in Huntington Bancshares by 0.8% in the 4th quarter. Captrust Financial Advisors now owns 156,671 shares of the bank's stock valued at $2,549,000 after acquiring an additional 1,253 shares during the period. Brevan Howard Capital Management LP acquired a new stake in Huntington Bancshares in the 4th quarter valued at approximately $638,000. Finally, Centiva Capital LP increased its position in Huntington Bancshares by 232.9% in the 4th quarter. Centiva Capital LP now owns 121,036 shares of the bank's stock valued at $1,969,000 after acquiring an additional 84,677 shares during the period. Institutional investors own 80.72% of the company's stock.

Insider Transactions at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 13,700 shares of Huntington Bancshares stock in a transaction on Friday, June 13th. The stock was 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 owned 337,879 shares of the company's stock, valued at approximately $5,335,109.41. This trade represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.89% of the company's stock.

Huntington Bancshares Stock Up 0.6%

Shares of Huntington Bancshares stock traded up $0.10 during midday trading on Monday, hitting $17.73. The company's stock had a trading volume of 33,227,712 shares, compared to its average volume of 25,745,342. The firm has a market capitalization of $25.86 billion, a P/E ratio of 13.13, a PEG ratio of 0.85 and a beta of 0.96. The stock has a 50-day simple moving average of $16.96 and a 200-day simple moving average of $15.73. 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 Incorporated has a 1-year low of $11.91 and a 1-year high of $18.44.

Huntington Bancshares Announces Dividend

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

Analyst Ratings Changes

Several analysts recently commented on the company. Wolfe Research upgraded Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 target price on the stock in a research report on Thursday, July 3rd. Cowen assumed coverage on Huntington Bancshares in a research report on Wednesday, May 14th. They issued a "buy" rating on the stock. DA Davidson raised their target price on Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Truist Financial lifted their price target on Huntington Bancshares from $18.00 to $19.00 and gave the company a "buy" rating in a research report on Friday, June 13th. Finally, Wall Street Zen cut Huntington Bancshares from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $18.74.

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.