Bank Julius Baer & Co. Ltd Zurich Buys 300,842 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 6.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,906,157 shares of the bank's stock after buying an additional 300,842 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned approximately 0.34% of Huntington Bancshares worth $79,024,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of HBAN. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Huntington Bancshares by 24.6% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 957,165 shares of the bank's stock valued at $14,367,000 after purchasing an additional 188,880 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Huntington Bancshares in the first quarter valued at about $445,000. Winch Advisory Services LLC boosted its stake in Huntington Bancshares by 18.3% in the first quarter. Winch Advisory Services LLC now owns 4,579 shares of the bank's stock valued at $69,000 after acquiring an additional 709 shares during the last quarter. OneAscent Wealth Management LLC boosted its stake in Huntington Bancshares by 24.8% in the first quarter. OneAscent Wealth Management LLC now owns 13,526 shares of the bank's stock valued at $203,000 after acquiring an additional 2,690 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in Huntington Bancshares by 1.2% in the first quarter. Allianz Asset Management GmbH now owns 792,339 shares of the bank's stock valued at $11,893,000 after acquiring an additional 9,649 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company's stock.

Analysts Set New Price Targets

HBAN has been the subject of several recent research reports. Truist Financial lifted their target price on shares of Huntington Bancshares from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. DA Davidson raised 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. Cowen began coverage on shares of Huntington Bancshares in a research report on Wednesday, May 14th. They issued a "buy" rating for the company. Citigroup raised 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 Wednesday, July 2nd. Finally, TD Cowen began coverage on shares of Huntington Bancshares in a research report on Thursday, May 15th. They issued a "buy" rating and a $20.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Huntington Bancshares presently has a consensus rating of "Moderate Buy" and an average target price of $18.60.

Insider Activity

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 59,060 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $14.36, for a total transaction of $848,101.60. Following the completion of the sale, the chief financial officer directly owned 277,348 shares of the company's stock, valued at $3,982,717.28. This trade represents a 17.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kendall A. Kowalski sold 3,434 shares of the stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $14.50, for a total value of $49,793.00. Following the transaction, the insider owned 66,847 shares of the company's stock, valued at $969,281.50. This represents a 4.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,539 shares of company stock valued at $1,737,536. 0.89% of the stock is owned by insiders.

Huntington Bancshares Stock Down 0.4%

Shares of NASDAQ:HBAN traded down $0.06 during midday trading on Tuesday, reaching $16.75. The company's stock had a trading volume of 6,713,029 shares, compared to its average volume of 19,707,284. The firm has a market capitalization of $24.46 billion, a P/E ratio of 12.41, a PEG ratio of 1.24 and a beta of 0.93. The firm has a 50 day moving average of $16.28 and a 200-day moving average of $15.72. Huntington Bancshares Incorporated has a 12-month low of $11.92 and a 12-month high of $18.45. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 17th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.70%. The ex-dividend date is Wednesday, September 17th. Huntington Bancshares's dividend payout ratio (DPR) is presently 45.93%.

Huntington Bancshares announced that its Board of Directors has initiated a share repurchase program on Thursday, April 17th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the bank to repurchase up to 5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

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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