Fifth Third Bancorp Cuts Stock Holdings in Huntington Bancshares Incorporated $HBAN

Key Points

• Fifth Third Bancorp decreased its holdings in Huntington Bancshares by 15.3% in the second quarter, owning 106,212 shares worth $1.78 million after selling 19,238 shares.
• Huntington Bancshares recently announced a quarterly dividend of $0.155 per share, resulting in a yield of 3.6% for shareholders.
• Despite Fifth Third's cut, other institutional investors like Cardinal Capital Management and GAMMA Investing LLC have increased their stakes in Huntington Bancshares, highlighting ongoing investor interest.

Fifth Third Bancorp reduced its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 15.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 106,212 shares of the bank's stock after selling 19,238 shares during the period. Fifth Third Bancorp's holdings in Huntington Bancshares were worth $1,780,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Cardinal Capital Management raised its holdings in Huntington Bancshares by 1.2% during the second quarter. Cardinal Capital Management now owns 185,804 shares of the bank's stock worth $3,143,000 after purchasing an additional 2,200 shares in the last quarter. CHICAGO TRUST Co NA purchased a new position in Huntington Bancshares during the second quarter worth about $339,000. Chris Bulman Inc purchased a new position in Huntington Bancshares during the second quarter worth about $182,000. GAMMA Investing LLC raised its holdings in Huntington Bancshares by 2.7% during the second quarter. GAMMA Investing LLC now owns 43,335 shares of the bank's stock worth $726,000 after purchasing an additional 1,139 shares in the last quarter. Finally, Park Avenue Securities LLC purchased a new position in Huntington Bancshares in the second quarter valued at about $976,000. 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 recently issued reports on the stock. 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. Truist Financial lifted their price target 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. Jefferies Financial Group lifted their price target on shares of Huntington Bancshares from $21.00 to $22.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Wolfe Research upgraded shares of Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price target for the company in a research report on Thursday, July 3rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.89.

Huntington Bancshares Stock Up 0.6%

HBAN stock opened at $17.42 on Friday. The stock has a market capitalization of $25.41 billion, a P/E ratio of 12.90, a PEG ratio of 0.84 and a beta of 0.97. 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 $17.07 and a two-hundred day moving average price of $15.94.

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 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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