Huntington Bancshares Incorporated $HBAN Shares Acquired by Wesbanco Bank Inc.

Key Points

• Wesbanco Bank Inc. increased its holdings in Huntington Bancshares by 52.7% during the second quarter, acquiring an additional 81,333 shares, bringing their total to 235,674 shares valued at approximately $3.95 million.
• The company declared a quarterly dividend of $0.155, with an annualized yield of 3.5%, scheduled to be paid on October 1st to stockholders of record on September 17th.
• Analysts have upgraded their price targets for Huntington Bancshares, with several firms issuing a "buy" rating and a target price ranging from $20.00 to $21.00.

Wesbanco Bank Inc. lifted its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 52.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 235,674 shares of the bank's stock after acquiring an additional 81,333 shares during the quarter. Wesbanco Bank Inc.'s holdings in Huntington Bancshares were worth $3,950,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Smallwood Wealth Investment Management LLC acquired a new position in Huntington Bancshares during the first quarter worth about $29,000. Quarry LP grew its position in shares of Huntington Bancshares by 73.0% in the first quarter. Quarry LP now owns 1,929 shares of the bank's stock valued at $29,000 after purchasing an additional 814 shares during the last quarter. LFA Lugano Financial Advisors SA acquired a new stake in shares of Huntington Bancshares in the first quarter valued at approximately $31,000. Golden State Wealth Management LLC grew its position in shares of Huntington Bancshares by 516.3% in the first 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 during the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in shares of Huntington Bancshares in the first quarter valued at approximately $39,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Trading Up 0.2%

Huntington Bancshares stock opened at $17.77 on Monday. 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 firm has a 50-day moving average price of $17.00 and a two-hundred day moving average price of $15.79. The firm has a market capitalization of $25.92 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 0.86 and a beta of 0.96. Huntington Bancshares Incorporated has a 52-week low of $11.91 and a 52-week high of $18.44.

Huntington Bancshares Dividend Announcement

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

Insider Buying and Selling at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 41,100 shares of the company's 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. This represents a 12.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.89% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Truist Financial upped their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Friday. Raymond James Financial restated a "strong-buy" rating and set a $21.00 target price (up previously from $18.00) on shares of Huntington Bancshares in a report on Tuesday, July 8th. Jefferies Financial Group lifted their target price on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. 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. Finally, Wolfe Research raised shares of Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price objective for the company in a report on Thursday, July 3rd. Two research 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $18.79.

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.

Want to see what other hedge funds are holding HBAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.