Eventide Asset Management LLC Buys 646,904 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• Eventide Asset Management LLC increased its stake in Huntington Bancshares by 40.1%, acquiring an additional 646,904 shares, bringing its total holdings to over 2.26 million shares valued at approximately $33.9 million.
• Huntington Bancshares announced a quarterly dividend of $0.155, representing an annualized yield of 3.5%, with a payout ratio of around 45.93%.
• Analysts have a consensus rating of "Moderate Buy" for Huntington Bancshares, with price targets ranging from $18.00 to $21.00, reflecting optimism in the stock's performance.

Eventide Asset Management LLC grew its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 40.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,262,102 shares of the bank's stock after buying an additional 646,904 shares during the quarter. Eventide Asset Management LLC owned 0.15% of Huntington Bancshares worth $33,898,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Curi RMB Capital LLC raised its position in Huntington Bancshares by 4.3% during the first quarter. Curi RMB Capital LLC now owns 646,343 shares of the bank's stock worth $9,801,000 after acquiring an additional 26,362 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Huntington Bancshares by 1.5% in the first quarter. Alliancebernstein L.P. now owns 1,808,383 shares of the bank's stock valued at $27,144,000 after purchasing an additional 27,100 shares during the period. AQR Capital Management LLC raised its position in shares of Huntington Bancshares by 274.9% in the first quarter. AQR Capital Management LLC now owns 10,758,669 shares of the bank's stock valued at $157,292,000 after purchasing an additional 7,889,004 shares during the period. Amundi raised its position in shares of Huntington Bancshares by 26.2% in the first quarter. Amundi now owns 22,011,639 shares of the bank's stock valued at $330,395,000 after purchasing an additional 4,576,432 shares during the period. Finally, Perbak Capital Partners LLP bought a new position in shares of Huntington Bancshares in the first quarter valued at about $347,000. Institutional investors and hedge funds own 80.72% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Citigroup increased their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Wall Street Zen lowered shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. Jefferies Financial Group raised their price target on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. TD Cowen initiated coverage on shares of Huntington Bancshares in a research report on Thursday, May 15th. They set a "buy" rating and a $20.00 price target on the stock. Finally, Cowen initiated coverage on shares of Huntington Bancshares in a research report on Wednesday, May 14th. They set a "buy" rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.74.

Insider Transactions at Huntington Bancshares

In related 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 in the company, valued at approximately $5,335,109.41. This represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.89% of the stock is owned by corporate insiders.

Huntington Bancshares Trading Down 0.3%

Huntington Bancshares stock traded down $0.06 during mid-day trading on Tuesday, hitting $17.68. 16,140,098 shares of the stock were exchanged, compared to its average volume of 25,687,145. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. Huntington Bancshares Incorporated has a 12 month low of $11.91 and a 12 month high of $18.44. The firm's fifty day simple moving average is $16.98 and its two-hundred day simple moving average is $15.74. The stock has a market capitalization of $25.78 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 0.85 and a beta of 0.96.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 17th will be issued a dividend of $0.155 per share. 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 payout ratio 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.