Huntington Bancshares Incorporated $HBAN Shares Acquired by Allstate Corp

Key Points

• Allstate Corp increased its stake in Huntington Bancshares by 163.5% during Q1, acquiring a total of 113,220 shares worth approximately $1.7 million.
• Huntington Bancshares announced a quarterly dividend of $0.155 per share, with a dividend yield of 3.6% for stockholders of record.
• Market analysts have a predominantly positive outlook on Huntington Bancshares, with two Strong Buy ratings and an average price target of $18.68.

Allstate Corp increased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 163.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 113,220 shares of the bank's stock after purchasing an additional 70,246 shares during the period. Allstate Corp's holdings in Huntington Bancshares were worth $1,699,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Huntington Bancshares by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 173,956,974 shares of the bank's stock worth $2,611,094,000 after purchasing an additional 978,565 shares during the period. Invesco Ltd. boosted its stake in shares of Huntington Bancshares by 8.7% during the 1st quarter. Invesco Ltd. now owns 57,186,593 shares of the bank's stock worth $858,371,000 after purchasing an additional 4,586,607 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Huntington Bancshares by 9.2% during the 1st quarter. Victory Capital Management Inc. now owns 23,828,775 shares of the bank's stock worth $357,670,000 after purchasing an additional 2,003,683 shares during the period. Federated Hermes Inc. boosted its position in Huntington Bancshares by 2.5% in the 1st quarter. Federated Hermes Inc. now owns 20,103,485 shares of the bank's stock valued at $301,753,000 after buying an additional 498,182 shares during the period. Finally, Northern Trust Corp boosted its position in Huntington Bancshares by 18.4% in the 4th quarter. Northern Trust Corp now owns 14,422,723 shares of the bank's stock valued at $234,658,000 after buying an additional 2,241,926 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Up 0.6%

Shares of NASDAQ HBAN traded up $0.11 during midday trading on Friday, hitting $17.91. The company's stock had a trading volume of 7,953,229 shares, compared to its average volume of 25,460,119. The business's fifty day simple moving average is $16.78 and its two-hundred day simple moving average is $15.70. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89. Huntington Bancshares Incorporated has a 1 year low of $11.91 and a 1 year high of $18.44. The firm has a market capitalization of $26.13 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 0.91 and a beta of 0.93.

Huntington Bancshares Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HBAN. Jefferies Financial Group started coverage on shares of Huntington Bancshares in a research report on Wednesday, May 21st. They issued a "buy" rating and a $20.00 price objective for the company. Truist Financial boosted their price objective on shares of Huntington Bancshares from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Citigroup upped their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. DA Davidson increased their price objective 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, Raymond James Financial reiterated a "strong-buy" rating and issued a $21.00 price objective (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 assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $18.68.

Insider Buying and Selling 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 shares were sold at an average price of $15.79, for a total transaction of $216,323.00. Following the completion of the sale, the executive vice president owned 337,879 shares in the company, valued at approximately $5,335,109.41. The trade was a 3.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.89% of the company's stock.

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.