Arvest Investments Inc. Sells 59,782 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• Arvest Investments Inc. has reduced its holdings in Huntington Bancshares by 42.6%, selling 59,782 shares and now owning 80,624 shares valued at approximately $1.35 million.
• Analysts have varied opinions on Huntington Bancshares; Wolfe Research upgraded it to "outperform" with a $21.00 price target, while Wall Street Zen downgraded it to "sell."
• Huntington Bancshares announced a quarterly dividend of $0.155 per share, equating to a yield of 3.5%, with the ex-dividend date set for September 17th.

Arvest Investments Inc. decreased its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 42.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,624 shares of the bank's stock after selling 59,782 shares during the quarter. Arvest Investments Inc.'s holdings in Huntington Bancshares were worth $1,351,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC bought a new position in Huntington Bancshares in the first quarter worth $29,000. Quarry LP raised its holdings in Huntington Bancshares by 73.0% in the first quarter. Quarry LP now owns 1,929 shares of the bank's stock worth $29,000 after purchasing an additional 814 shares in the last quarter. LFA Lugano Financial Advisors SA bought a new position in Huntington Bancshares in the first quarter worth $31,000. Golden State Wealth Management LLC increased its holdings in shares of Huntington Bancshares by 516.3% during the first quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock valued at $33,000 after acquiring an additional 1,869 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new position in shares of Huntington Bancshares during the first quarter valued at $39,000. Institutional investors own 80.72% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on HBAN. Wolfe Research upgraded Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price target for the company in a report on Thursday, July 3rd. Raymond James Financial restated a "strong-buy" rating and set a $21.00 price target (up from $18.00) on shares of Huntington Bancshares in a report on Tuesday, July 8th. Wall Street Zen downgraded Huntington Bancshares from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. Truist Financial raised their price target on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a report on Friday. Finally, Citigroup raised their price target on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Huntington Bancshares has a consensus rating of "Moderate Buy" and a consensus price target of $18.79.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 41,100 shares of the business's stock in a transaction dated Friday, September 5th. The stock was 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 directly owned 299,361 shares in the company, valued at $5,388,498. The trade was a 12.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.89% of the company's stock.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $17.77 on Friday. Huntington Bancshares Incorporated has a one year low of $11.91 and a one year high of $18.44. The stock has a 50-day moving average of $17.00 and a 200 day moving average of $15.79. The company has a market capitalization of $25.92 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 0.86 and a beta of 0.97. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.89.

Huntington Bancshares Dividend Announcement

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

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.

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