Freedom Investment Management Inc. Invests $688,000 in Huntington Bancshares Incorporated $HBAN

Key Points

• Freedom Investment Management Inc. has acquired a new position in Huntington Bancshares, purchasing 45,869 shares valued at approximately $688,000 in the first quarter of the year.
• Huntington Bancshares is seeing a significant interest from institutional investors, with 80.72% of its stock owned by hedge funds and other institutional entities.
• The company's recent quarterly dividend announcement indicates a payment of $0.155 per share, reflecting a 3.6% yield on an annual basis.

Freedom Investment Management Inc. purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 45,869 shares of the bank's stock, valued at approximately $688,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC raised its position in Huntington Bancshares by 9.0% during the 4th quarter. Integrated Wealth Concepts LLC now owns 67,989 shares of the bank's stock valued at $1,106,000 after purchasing an additional 5,597 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Huntington Bancshares during the 4th quarter worth approximately $3,148,000. Northern Trust Corp grew its holdings in shares of Huntington Bancshares by 18.4% during the 4th quarter. Northern Trust Corp now owns 14,422,723 shares of the bank's stock worth $234,658,000 after acquiring an additional 2,241,926 shares during the period. Lido Advisors LLC grew its stake in shares of Huntington Bancshares by 15.1% in the 4th quarter. Lido Advisors LLC now owns 50,935 shares of the bank's stock worth $836,000 after buying an additional 6,684 shares during the last quarter. Finally, Rehmann Capital Advisory Group grew its stake in shares of Huntington Bancshares by 39.2% in the 4th quarter. Rehmann Capital Advisory Group now owns 23,252 shares of the bank's stock worth $378,000 after buying an additional 6,542 shares during the last quarter. Institutional investors own 80.72% of the company's stock.

Insider Activity

In other news, EVP Marcy C. Hingst sold 13,700 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $15.79, for a total transaction of $216,323.00. Following the transaction, the executive vice president directly owned 337,879 shares of the company's stock, valued at approximately $5,335,109.41. This represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.89% of the company's stock.

Huntington Bancshares Trading Up 0.1%

HBAN traded up $0.01 on Friday, hitting $17.81. The company had a trading volume of 22,951,162 shares, compared to its average volume of 25,502,430. The company has a market cap of $25.98 billion, a PE ratio of 13.19, a PEG ratio of 0.91 and a beta of 0.93. Huntington Bancshares Incorporated has a 12-month low of $11.91 and a 12-month high of $18.44. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The business's fifty day simple moving average is $16.82 and its 200 day simple moving average is $15.70.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.5%. Huntington Bancshares's payout ratio is 45.93%.

Analyst Ratings Changes

HBAN has been the topic of several analyst reports. DA Davidson upped their price objective on Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Wall Street Zen cut Huntington Bancshares from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. TD Cowen initiated coverage on Huntington Bancshares in a report on Thursday, May 15th. They set a "buy" rating and a $20.00 price target on the stock. Truist Financial raised their target price on Huntington Bancshares from $18.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Finally, Cowen assumed coverage on Huntington Bancshares in a 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 assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Huntington Bancshares has an average rating of "Moderate Buy" and a consensus target price of $18.68.

Huntington Bancshares Company 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.