Huntington Bancshares Incorporated $HBAN Shares Bought by Harvest Portfolios Group Inc.

Key Points

• Harvest Portfolios Group Inc. increased its holdings in Huntington Bancshares by 14.7%, now owning 413,045 shares valued at $6.2 million.
• Huntington Bancshares announced a quarterly dividend of $0.155, with a dividend yield of 3.6%.
• Analysts' opinions on Huntington Bancshares are positive, with many assigning a buy rating and a target price increase, indicating confidence in the stock's performance.

Harvest Portfolios Group Inc. raised its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 14.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 413,045 shares of the bank's stock after purchasing an additional 53,045 shares during the period. Harvest Portfolios Group Inc.'s holdings in Huntington Bancshares were worth $6,200,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of HBAN. Invesco Ltd. lifted its holdings in shares of 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 purchasing an additional 4,586,607 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Huntington Bancshares by 126.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,048,773 shares of the bank's stock valued at $114,684,000 after purchasing an additional 3,938,769 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Huntington Bancshares in the first quarter valued at about $50,078,000. Deutsche Bank AG lifted its holdings in shares of Huntington Bancshares by 47.7% in the first quarter. Deutsche Bank AG now owns 8,870,393 shares of the bank's stock valued at $133,145,000 after purchasing an additional 2,865,727 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Huntington Bancshares by 18.4% in the fourth quarter. Northern Trust Corp now owns 14,422,723 shares of the bank's stock valued at $234,658,000 after purchasing an additional 2,241,926 shares in the last quarter. Hedge funds and other 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 stock in a transaction on 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 sale, the executive vice president owned 337,879 shares of the company's stock, valued at $5,335,109.41. This represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.89% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on HBAN shares. DA Davidson boosted their price objective on shares of 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 lowered shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. Cowen started coverage on shares of Huntington Bancshares in a research report on Wednesday, May 14th. They issued a "buy" rating for the company. 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 research report on Thursday, July 3rd. Finally, Citigroup boosted their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. 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 stock. According to MarketBeat.com, Huntington Bancshares has an average rating of "Moderate Buy" and a consensus target price of $18.68.

Huntington Bancshares Trading Up 0.1%

HBAN stock traded up $0.01 on Friday, hitting $17.81. 22,951,162 shares of the company were exchanged, compared to its average volume of 25,502,430. Huntington Bancshares Incorporated has a twelve month low of $11.91 and a twelve month high of $18.44. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89. The business's fifty day moving average is $16.82 and its two-hundred day moving average is $15.71. The stock has a market capitalization of $25.98 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 0.91 and a beta of 0.93.

Huntington Bancshares Announces Dividend

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

Huntington Bancshares 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.