Farmers Trust Co. Lowers Stock Holdings in Huntington Bancshares Incorporated $HBAN

Key Points

• Farmers Trust Co. reduced its stake in Huntington Bancshares by 28.3% during the second quarter, holding 82,493 shares worth approximately $1.38 million.
• Several institutions increased their investments in Huntington Bancshares, including Quarry LP, which raised its position by 73.0% in the first quarter.
• Brokerages have set a new price target for Huntington Bancshares, with Citigroup and Truist Financial raising their price targets to $21.00, while a consensus rating remains at "Moderate Buy".

Farmers Trust Co. lowered its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 28.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,493 shares of the bank's stock after selling 32,597 shares during the quarter. Farmers Trust Co.'s holdings in Huntington Bancshares were worth $1,383,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Huntington Bancshares by 0.4% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 164,551 shares of the bank's stock valued at $2,758,000 after purchasing an additional 668 shares during the period. Foundations Investment Advisors LLC lifted its position in Huntington Bancshares by 2.4% in the first quarter. Foundations Investment Advisors LLC now owns 29,023 shares of the bank's stock valued at $436,000 after purchasing an additional 691 shares during the period. Winch Advisory Services LLC lifted its position in Huntington Bancshares by 18.3% in the first quarter. Winch Advisory Services LLC now owns 4,579 shares of the bank's stock valued at $69,000 after purchasing an additional 709 shares during the period. Farther Finance Advisors LLC lifted its position in Huntington Bancshares by 2.6% in the second quarter. Farther Finance Advisors LLC now owns 29,032 shares of the bank's stock valued at $487,000 after purchasing an additional 731 shares during the period. Finally, Quarry LP lifted its position in Huntington Bancshares by 73.0% in the first quarter. Quarry LP now owns 1,929 shares of the bank's stock valued at $29,000 after purchasing an additional 814 shares during the period. Hedge funds and other institutional investors own 80.72% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on HBAN. Citigroup raised their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Friday. Truist Financial raised 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 Friday, September 12th. Wall Street Zen downgraded shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. 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. Finally, DA Davidson lifted their price target on shares of Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Huntington Bancshares has a consensus rating of "Moderate Buy" and an average price target of $18.84.

Huntington Bancshares Stock Down 2.2%

HBAN stock opened at $17.33 on Tuesday. The stock has a market capitalization of $25.28 billion, a P/E ratio of 12.84, a PEG ratio of 0.86 and a beta of 0.96. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.89. Huntington Bancshares Incorporated has a one year low of $11.91 and a one year high of $18.44. The company has a 50 day moving average price of $17.02 and a two-hundred day moving average price of $15.87.

Huntington Bancshares Dividend Announcement

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 paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, September 17th. Huntington Bancshares's payout ratio is presently 45.93%.

Insider Buying and Selling

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 41,100 shares of Huntington Bancshares stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $18.00, for a total value of $739,800.00. Following the completion of the sale, the executive vice president directly owned 299,361 shares of the company's stock, valued at approximately $5,388,498. The trade was a 12.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.89% of the company's stock.

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.

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