Huntington Bancshares Incorporated $HBAN Shares Acquired by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC increased its holdings in Huntington Bancshares by 274.9%, owning over 10.7 million shares, valued at approximately $157.3 million.
• The company announced a quarterly dividend of $0.155 per share, representing a 3.5% yield, with the record date on September 17th.
• Several analysts have upgraded their ratings for Huntington Bancshares, with price targets ranging from $19.00 to $21.00, indicating a consensus rating of "Moderate Buy."

AQR Capital Management LLC lifted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 274.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,758,669 shares of the bank's stock after acquiring an additional 7,889,004 shares during the quarter. AQR Capital Management LLC owned about 0.74% of Huntington Bancshares worth $157,292,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Smallwood Wealth Investment Management LLC acquired a new position in shares of Huntington Bancshares during the 1st quarter valued at $29,000. Quarry LP lifted its holdings in shares of Huntington Bancshares by 73.0% during the 1st quarter. Quarry LP now owns 1,929 shares of the bank's stock valued at $29,000 after acquiring an additional 814 shares in the last quarter. LFA Lugano Financial Advisors SA acquired a new position in shares of Huntington Bancshares during the 1st quarter valued at $31,000. Golden State Wealth Management LLC increased its stake in Huntington Bancshares by 516.3% during the 1st quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock worth $33,000 after buying an additional 1,869 shares during the period. Finally, Wayfinding Financial LLC purchased a new stake in Huntington Bancshares during the 1st quarter worth $39,000. Institutional investors and hedge funds own 80.72% of the company's stock.

Insider Buying and Selling

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 13,700 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $15.79, for a total value 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.89% of the company's stock.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $17.61 on Thursday. 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 fifty-two week low of $11.91 and a fifty-two week high of $18.44. The firm has a 50-day simple moving average of $16.91 and a 200 day simple moving average of $15.73. The company has a market cap of $25.69 billion, a PE ratio of 13.04, a P/E/G ratio of 0.91 and a beta of 0.97.

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 given a $0.155 dividend. The ex-dividend date is Wednesday, September 17th. This represents a $0.62 annualized dividend and a yield of 3.5%. Huntington Bancshares's dividend payout ratio is 45.93%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group lifted their price target on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Wednesday. DA Davidson lifted their price target on shares of Huntington Bancshares from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Citigroup lifted their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. 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 note on Thursday, July 3rd. Finally, Raymond James Financial restated a "strong-buy" rating and issued a $21.00 target price (up previously from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. Two 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 issued a Sell rating to the company. According to MarketBeat.com, Huntington Bancshares has a consensus rating of "Moderate Buy" and an average price target of $18.74.

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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