CTC Alternative Strategies Ltd. Has $1.30 Million Stock Holdings in Huntington Bancshares Incorporated $HBAN

Key Points

• CTC Alternative Strategies Ltd. significantly increased its stake in Huntington Bancshares by 719% during the first quarter, acquiring 75,938 additional shares to own a total of 86,500 shares worth approximately $1.3 million.
• Huntington Bancshares recently announced a quarterly dividend of $0.155 per share, translating to an annualized dividend yield of 3.5%, with a payout ratio of 45.93%.
• Several analysts have upgraded their ratings for Huntington Bancshares, with Truist Financial increasing its price target to $19.00 and Wolfe Research upgrading from "peer perform" to "outperform" with a target of $21.00.

CTC Alternative Strategies Ltd. boosted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 719.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,500 shares of the bank's stock after acquiring an additional 75,938 shares during the quarter. Huntington Bancshares accounts for 1.6% of CTC Alternative Strategies Ltd.'s portfolio, making the stock its 16th largest position. CTC Alternative Strategies Ltd.'s holdings in Huntington Bancshares were worth $1,298,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Smallwood Wealth Investment Management LLC acquired a new position in shares of Huntington Bancshares during the 1st quarter worth about $29,000. Quarry LP raised its position in Huntington Bancshares by 73.0% during the first quarter. Quarry LP now owns 1,929 shares of the bank's stock worth $29,000 after acquiring an additional 814 shares in the last quarter. LFA Lugano Financial Advisors SA acquired a new stake in Huntington Bancshares in the first quarter valued at $31,000. Golden State Wealth Management LLC lifted its stake in Huntington Bancshares by 516.3% in the first quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock valued at $33,000 after acquiring an additional 1,869 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new position in shares of Huntington Bancshares in the 1st quarter valued at about $39,000. 80.72% of the stock is owned by institutional investors and hedge funds.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $17.63 on Monday. The company has a market cap of $25.72 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 0.85 and a beta of 0.96. Huntington Bancshares Incorporated has a fifty-two week low of $11.91 and a fifty-two week high of $18.44. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a fifty day moving average price of $16.96 and a 200-day moving average price of $15.73.

Huntington Bancshares Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 17th. Huntington Bancshares's dividend payout ratio is presently 45.93%.

Insider Buying and Selling

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 13,700 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $15.79, for a total value of $216,323.00. Following the completion of the transaction, the executive vice president directly owned 337,879 shares in the company, valued at approximately $5,335,109.41. This represents a 3.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.89% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on HBAN. Truist Financial upped their price objective 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 upgraded shares of Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price objective for the company in a research report on Thursday, July 3rd. Wall Street Zen cut Huntington Bancshares from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. Jefferies Financial Group upped their target price on Huntington Bancshares from $19.00 to $21.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Finally, TD Cowen initiated coverage on Huntington Bancshares in a research note on Thursday, May 15th. They set a "buy" rating and a $20.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $18.74.

Huntington Bancshares 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.

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