Brandywine Global Investment Management LLC Sells 33,227 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• Brandywine Global Investment Management LLC decreased its holdings in Huntington Bancshares by 4.3%, owning approximately 730,621 shares valued at $10.97 million as of the latest reporting period.
• Recent analyst ratings for Huntington Bancshares show a majority in favor, with 15 analysts giving a "buy" rating and an average target price of $18.68.
• The company declared a quarterly dividend of $0.155 per share, with an annualized yield of 3.7%, to be paid on October 1st.

Brandywine Global Investment Management LLC reduced its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 4.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 730,621 shares of the bank's stock after selling 33,227 shares during the period. Brandywine Global Investment Management LLC owned about 0.05% of Huntington Bancshares worth $10,967,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of 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. lifted its holdings in shares of 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. lifted its holdings in shares of 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. Federated Hermes Inc. lifted its holdings in shares of Huntington Bancshares by 2.5% during the 1st quarter. Federated Hermes Inc. now owns 20,103,485 shares of the bank's stock valued at $301,753,000 after buying an additional 498,182 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Huntington Bancshares by 18.4% during the 4th quarter. Northern Trust Corp now owns 14,422,723 shares of the bank's stock valued at $234,658,000 after buying an additional 2,241,926 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Huntington Bancshares

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 transaction of $216,323.00. Following the completion of the transaction, the executive vice president 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.89% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HBAN. Wall Street Zen cut Huntington Bancshares from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. Raymond James Financial reissued 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. Deutsche Bank Aktiengesellschaft upgraded Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 price objective for the company in a research note on Thursday, April 24th. DA Davidson upped their price objective on Huntington Bancshares from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Finally, Jefferies Financial Group began coverage on Huntington Bancshares in a research note on Wednesday, May 21st. They issued a "buy" rating and a $20.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $18.68.

Huntington Bancshares Price Performance

HBAN stock traded up $0.18 during trading on Wednesday, reaching $16.80. The company's stock had a trading volume of 28,477,802 shares, compared to its average volume of 25,637,650. Huntington Bancshares Incorporated has a 1 year low of $11.91 and a 1 year high of $18.44. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $24.51 billion, a P/E ratio of 12.44, a price-to-earnings-growth ratio of 0.85 and a beta of 0.93. The company's fifty day moving average is $16.56 and its 200-day moving average is $15.67.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Wednesday, September 17th. Huntington Bancshares's dividend payout ratio is presently 45.93%.

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.