Canada Pension Plan Investment Board Sells 97,955 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• The Canada Pension Plan Investment Board reduced its holdings in Huntington Bancshares by 3.6% in the first quarter, owning approximately 0.18% of the company with a value of $39.19 million.
• Analyst ratings for Huntington Bancshares are mostly positive, with a consensus rating of "Moderate Buy" and an average price target of $18.68.
• Huntington Bancshares recently announced a quarterly dividend of $0.155 per share, representing an annualized dividend of $0.62 with a yield of 3.5%.

Canada Pension Plan Investment Board decreased its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,611,110 shares of the bank's stock after selling 97,955 shares during the period. Canada Pension Plan Investment Board owned 0.18% of Huntington Bancshares worth $39,193,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Huntington Bancshares by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 173,956,974 shares of the bank's stock worth $2,611,094,000 after buying an additional 978,565 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Huntington Bancshares by 8.7% during the first quarter. Invesco Ltd. now owns 57,186,593 shares of the bank's stock valued at $858,371,000 after acquiring an additional 4,586,607 shares during the period. Victory Capital Management Inc. boosted its holdings in Huntington Bancshares by 9.2% in the first quarter. Victory Capital Management Inc. now owns 23,828,775 shares of the bank's stock valued at $357,670,000 after acquiring an additional 2,003,683 shares during the last quarter. Federated Hermes Inc. increased its position in Huntington Bancshares by 2.5% in the first 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 period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Huntington Bancshares by 9.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,679,600 shares of the bank's stock worth $222,567,000 after purchasing an additional 1,188,542 shares during the period. 80.72% of the stock is owned by institutional investors.

Insider Transactions at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 13,700 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was 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 directly owned 337,879 shares of the company's stock, valued at approximately $5,335,109.41. This represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.89% of the company's stock.

Huntington Bancshares Stock Up 1.3%

NASDAQ:HBAN traded up $0.23 during trading hours on Thursday, reaching $17.84. 26,803,900 shares of the stock were exchanged, compared to its average volume of 25,570,885. The stock has a market cap of $26.03 billion, a PE ratio of 13.20, a PEG ratio of 0.91 and a beta of 0.97. Huntington Bancshares Incorporated has a twelve month low of $11.91 and a twelve month high of $18.44. The firm has a 50 day moving average of $16.91 and a 200 day moving average of $15.73. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th will be given a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. Huntington Bancshares's payout ratio is currently 45.93%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on HBAN shares. DA Davidson raised their target price on shares of Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, July 21st. TD Cowen started coverage on Huntington Bancshares in a report on Thursday, May 15th. They issued a "buy" rating and a $20.00 price objective for the company. Raymond James Financial restated a "strong-buy" rating and set a $21.00 target price (up from $18.00) on shares of Huntington Bancshares in a research report on Tuesday, July 8th. Wall Street Zen cut Huntington Bancshares from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. Finally, Jefferies Financial Group lifted their price objective on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $18.74.

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.