Huntington Bancshares Incorporated $HBAN Shares Purchased by Graham Capital Management L.P.

Key Points

• Graham Capital Management L.P. significantly increased its holdings in Huntington Bancshares by 99.1%, acquiring a total of 644,586 shares valued at approximately $9.7 million.
• Huntington Bancshares has seen recent mixed analyst ratings, with price targets adjusted upwards by firms like DA Davidson and Citigroup, while Wall Street Zen downgraded the stock from "hold" to "sell."
• The company recently announced a quarterly dividend of $0.155 per share, representing a 3.5% yield and a dividend payout ratio of approximately 45.93%.

Graham Capital Management L.P. boosted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 99.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 644,586 shares of the bank's stock after purchasing an additional 320,917 shares during the period. Graham Capital Management L.P.'s holdings in Huntington Bancshares were worth $9,675,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of HBAN. Vanguard Group Inc. grew its stake in Huntington Bancshares by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 173,956,974 shares of the bank's stock valued at $2,611,094,000 after buying an additional 978,565 shares during the last quarter. Invesco Ltd. lifted its holdings in Huntington Bancshares by 8.7% in the first quarter. Invesco Ltd. now owns 57,186,593 shares of the bank's stock valued at $858,371,000 after buying an additional 4,586,607 shares during the period. Victory Capital Management Inc. increased its stake in Huntington Bancshares by 9.2% in the first quarter. Victory Capital Management Inc. now owns 23,828,775 shares of the bank's stock valued at $357,670,000 after purchasing an additional 2,003,683 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Huntington Bancshares by 2.5% during the first quarter. Federated Hermes Inc. now owns 20,103,485 shares of the bank's stock worth $301,753,000 after acquiring an additional 498,182 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Huntington Bancshares by 9.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,679,600 shares of the bank's stock valued at $222,567,000 after purchasing an additional 1,188,542 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company's stock.

Insider Activity at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 13,700 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $15.79, for a total value of $216,323.00. Following the completion of the sale, the executive vice president directly owned 337,879 shares in the company, valued at $5,335,109.41. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.89% of the stock is owned by company insiders.

Huntington Bancshares Stock Down 0.4%

Shares of Huntington Bancshares stock traded down $0.07 during trading on Wednesday, hitting $17.61. 24,903,597 shares of the stock traded hands, compared to its average volume of 22,934,182. Huntington Bancshares Incorporated has a 52-week low of $11.91 and a 52-week high of $18.44. The stock's fifty day simple moving average is $16.91 and its 200 day simple moving average is $15.73. The firm has a market cap of $25.69 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.92.

Huntington Bancshares Dividend Announcement

The business 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 $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 presently 45.93%.

Analysts Set New Price Targets

Several brokerages recently commented on HBAN. Wall Street Zen downgraded shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. TD Cowen started coverage on shares of Huntington Bancshares in a research report on Thursday, May 15th. They set a "buy" rating and a $20.00 target price on the stock. Wolfe Research upgraded shares of Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 target price for the company in a research note on Thursday, July 3rd. Cowen assumed coverage on Huntington Bancshares in a research report on Wednesday, May 14th. They issued a "buy" rating on the stock. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.74.

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.