Hsbc Holdings PLC Has $113.88 Million Position in Huntington Bancshares Incorporated $HBAN

Key Points

• Hsbc Holdings PLC increased its ownership of Huntington Bancshares by 22.6%, acquiring an additional 1,402,903 shares, bringing its total to 7,608,553 shares, valued at approximately $113.9 million.
• Analysts have a positive outlook on Huntington Bancshares, with multiple firms issuing buy ratings and raising target prices, suggesting strong future growth potential.
• The company announced a quarterly dividend of $0.155 per share, which will be payable on October 1st, reflecting a dividend yield of 3.7% and a payout ratio of 45.93%.

Hsbc Holdings PLC grew its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 22.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,608,553 shares of the bank's stock after purchasing an additional 1,402,903 shares during the period. Hsbc Holdings PLC owned about 0.52% of Huntington Bancshares worth $113,882,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Huntington Bancshares in the 1st quarter valued at approximately $29,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of Huntington Bancshares in the 1st quarter valued at approximately $31,000. Golden State Wealth Management LLC boosted its stake in shares of Huntington Bancshares by 516.3% in the 1st 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 in the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Huntington Bancshares in the 1st quarter valued at approximately $39,000. Finally, TruNorth Capital Management LLC acquired a new stake in shares of Huntington Bancshares in the 1st quarter valued at approximately $40,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Trading Up 4.2%

Huntington Bancshares stock traded up $0.70 during mid-day trading on Friday, hitting $17.36. 30,878,382 shares of the stock were exchanged, compared to its average volume of 28,964,992. 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 $16.63 and its two-hundred day simple moving average is $15.68. The stock has a market capitalization of $25.32 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 0.89 and a beta of 0.93.

Huntington Bancshares Dividend Announcement

The company also recently declared 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. The ex-dividend date is Wednesday, September 17th. This represents a $0.62 annualized dividend and a yield of 3.6%. Huntington Bancshares's dividend payout ratio (DPR) is presently 45.93%.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 13,700 shares of the firm's stock in a transaction that occurred on 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 trade represents a 3.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.89% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Raymond James Financial restated a "strong-buy" rating and issued a $21.00 price target (up from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. Truist Financial raised their price target on shares of Huntington Bancshares from $18.00 to $19.00 and gave the company a "buy" rating in a research note 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. Jefferies Financial Group initiated coverage on shares of Huntington Bancshares in a research report on Wednesday, May 21st. They set a "buy" rating and a $20.00 target price 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 investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned 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, the company presently has an average rating of "Moderate Buy" and an average price target of $18.68.

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.