Baird Financial Group Inc. Has $16.52 Million Holdings in Huntington Bancshares Incorporated $HBAN

Key Points

• Baird Financial Group Inc. reduced its holdings in Huntington Bancshares by 4.2%, owning 1,100,620 shares valued at approximately $16.5 million after selling 48,612 shares in the first quarter.
• Huntington Bancshares recently declared a quarterly dividend of $0.155 per share, providing a 3.5% yield and reflecting a payout ratio of 45.93%.
• Equities analysts have shown positive sentiment towards Huntington Bancshares, with multiple firms setting price targets ranging from $19.00 to $21.00 and a consensus rating of "Moderate Buy."

Baird Financial Group Inc. cut its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 4.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,100,620 shares of the bank's stock after selling 48,612 shares during the quarter. Baird Financial Group Inc. owned approximately 0.08% of Huntington Bancshares worth $16,520,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC bought a new stake in Huntington Bancshares during the 1st quarter worth about $29,000. LFA Lugano Financial Advisors SA bought a new stake in Huntington Bancshares during the 1st quarter worth about $31,000. Golden State Wealth Management LLC lifted its position in 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 buying an additional 1,869 shares in the last quarter. Wayfinding Financial LLC bought a new stake in Huntington Bancshares during the 1st quarter worth about $39,000. Finally, TruNorth Capital Management LLC bought a new stake in shares of Huntington Bancshares in the 1st quarter valued at about $40,000. 80.72% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 13,700 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $15.79, for a total value of $216,323.00. Following the transaction, the executive vice president directly owned 337,879 shares of the company's stock, valued at $5,335,109.41. This represents a 3.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.89% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

HBAN has been the topic of a number of research analyst reports. Truist Financial upped their target price on shares of Huntington Bancshares from $18.00 to $19.00 and gave the company a "buy" rating in a report on Friday, June 13th. Wolfe Research raised shares of Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 target price on the stock in a report on Thursday, July 3rd. Cowen initiated coverage on shares of Huntington Bancshares in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. Wall Street Zen cut shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. Finally, DA Davidson upped their target price on shares of Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a report on Monday, July 21st. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Huntington Bancshares presently has an average rating of "Moderate Buy" and an average price target of $18.74.

Huntington Bancshares Stock Performance

Huntington Bancshares stock traded down $0.25 during trading hours on Friday, hitting $17.63. The company had a trading volume of 34,893,460 shares, compared to its average volume of 23,410,230. The firm has a market cap of $25.72 billion, a PE ratio of 13.06, a PEG ratio of 0.92 and a beta of 0.97. 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 Incorporated has a one year low of $11.91 and a one year high of $18.44. The firm has a 50-day moving average of $16.96 and a 200 day moving average of $15.74.

Huntington Bancshares Announces Dividend

The business 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. 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 currently 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.