Board of the Pension Protection Fund Buys Shares of 91,800 Huntington Bancshares Incorporated $HBAN

Key Points

• The Board of the Pension Protection Fund acquired 91,800 shares of Huntington Bancshares (NASDAQ:HBAN), worth approximately $1.54 million, making it the 17th largest holding of the fund.
• Several large investors, including Vanguard Group and Victory Capital Management, increased their stakes in Huntington Bancshares during the 1st quarter of the year, with institutional investors owning approximately 80.72% of the company's stock.
• Huntington Bancshares reported a net margin of 17.36% and will distribute a quarterly dividend of $0.155 per share, which translates to an annualized yield of 4.0%.

Board of the Pension Protection Fund bought a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 91,800 shares of the bank's stock, valued at approximately $1,539,000. Huntington Bancshares accounts for approximately 1.7% of Board of the Pension Protection Fund's holdings, making the stock its 17th largest position.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in 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. increased its stake in 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. increased its stake in 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 increased its stake in Huntington Bancshares by 26.2% during the 1st quarter. Amundi now owns 22,011,639 shares of the bank's stock valued at $330,395,000 after buying an additional 4,576,432 shares during the period. Finally, Federated Hermes Inc. grew its stake in shares of Huntington Bancshares by 2.5% in 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 last quarter. Institutional investors and hedge funds own 80.72% of the company's stock.

Insider Buying and Selling

In related news, EVP Marcy C. Hingst sold 41,100 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 299,361 shares of the company's stock, valued at approximately $5,388,498. The trade was a 12.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.89% of the company's stock.

Wall Street Analysts Forecast Growth

HBAN has been the topic of several recent research reports. DA Davidson lifted their price objective on shares of Huntington Bancshares from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Truist Financial lifted their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Morgan Stanley lifted their price objective on shares of Huntington Bancshares from $19.00 to $23.00 and gave the stock an "overweight" rating in a research note on Monday, September 29th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Huntington Bancshares in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Huntington Bancshares from $18.00 to $18.50 and gave the stock an "overweight" rating in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $19.37.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $15.60 on Friday. Huntington Bancshares Incorporated has a one year low of $11.91 and a one year high of $18.44. The company has a 50-day moving average of $17.10 and a two-hundred day moving average of $16.07. The stock has a market cap of $22.76 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 0.75 and a beta of 0.96. 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 (NASDAQ:HBAN - Get Free Report) last announced its earnings results on Wednesday, June 11th. The bank reported $0.28 EPS for the quarter. Huntington Bancshares had a net margin of 17.36% and a return on equity of 11.81%. The company had revenue of $469.00 million during the quarter. On average, equities research analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Wednesday, September 17th. Huntington Bancshares's dividend payout ratio (DPR) 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.

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