Deutsche Bank AG Has $133.15 Million Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Key Points

• Deutsche Bank AG significantly increased its stake in Huntington Bancshares by 47.7% during the first quarter, now owning approximately 0.61% of the bank's total shares valued at $133 million.
• Huntington Bancshares has approved a $1 billion share repurchase program, allowing it to buy back up to 5% of its shares, typically indicating management's belief that the stock is undervalued.
• The company has declared a quarterly dividend of $0.155 per share with a dividend yield of 3.9%, reflecting a payout ratio of approximately 45.93%.

Deutsche Bank AG boosted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 47.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 8,870,393 shares of the bank's stock after purchasing an additional 2,865,727 shares during the period. Deutsche Bank AG owned approximately 0.61% of Huntington Bancshares worth $133,145,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC purchased a new position in Huntington Bancshares during the 1st quarter worth $29,000. LFA Lugano Financial Advisors SA purchased a new position in Huntington Bancshares during the first quarter worth about $31,000. Golden State Wealth Management LLC lifted its position 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 purchasing an additional 1,869 shares during the period. Wayfinding Financial LLC acquired a new stake in Huntington Bancshares in the first quarter valued at about $39,000. Finally, TruNorth Capital Management LLC acquired a new position in Huntington Bancshares during the 1st quarter worth approximately $40,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Truist Financial raised their target price on 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 target price on the stock in a research report on Thursday, July 3rd. Raymond James Financial reiterated a "strong-buy" rating and set a $21.00 price target (up from $18.00) on shares of Huntington Bancshares in a research report on Tuesday, July 8th. Cowen initiated coverage on Huntington Bancshares in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 price target on the stock in a report on Thursday, April 24th. Two analysts have rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Huntington Bancshares currently has an average rating of "Moderate Buy" and an average price target of $18.68.

Huntington Bancshares Trading Up 2.9%

Shares of HBAN traded up $0.46 during midday trading on Tuesday, hitting $16.47. The stock had a trading volume of 32,252,432 shares, compared to its average volume of 25,752,865. The business has a 50-day simple moving average of $16.49 and a two-hundred day simple moving average of $15.69. The firm has a market cap of $24.03 billion, a P/E ratio of 12.20, a price-to-earnings-growth ratio of 0.82 and a beta of 0.93. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.92. Huntington Bancshares Incorporated has a fifty-two week low of $11.91 and a fifty-two week high of $18.44.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 17th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Wednesday, September 17th. Huntington Bancshares's dividend payout ratio is 45.93%.

Huntington Bancshares declared that its Board of Directors has authorized a stock repurchase plan on Thursday, April 17th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the bank to buy up to 5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Activity

In other news, EVP Marcy C. Hingst sold 13,700 shares of the 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 sale, the executive vice president directly owned 337,879 shares of the company's stock, valued at $5,335,109.41. This represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.89% of the stock is owned by company insiders.

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.