Huntington Bancshares Incorporated $HBAN Shares Purchased by Commerzbank Aktiengesellschaft FI

Key Points

• Commerzbank Aktiengesellschaft FI increased its stake in Huntington Bancshares by 43.4% in Q2, acquiring a total of 94,979 shares worth approximately $1.59 million.
• Multiple research firms have raised their price targets on Huntington Bancshares, with Citigroup and Deutsche Bank both setting a target of $21.00, reflecting a buy rating from analysts.
• The company declared a quarterly dividend of $0.155 per share, representing a 4.0% yield and a dividend payout ratio of 45.93%.

Commerzbank Aktiengesellschaft FI lifted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 43.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,979 shares of the bank's stock after acquiring an additional 28,739 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Huntington Bancshares were worth $1,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas grew its position in Huntington Bancshares by 1,462.4% during the 1st quarter. Teacher Retirement System of Texas now owns 212,390 shares of the bank's stock worth $3,188,000 after purchasing an additional 198,796 shares during the period. Shell Asset Management Co. lifted its stake in Huntington Bancshares by 58.7% in the 2nd quarter. Shell Asset Management Co. now owns 200,595 shares of the bank's stock worth $3,362,000 after purchasing an additional 74,220 shares in the last quarter. Czech National Bank lifted its stake in Huntington Bancshares by 6.6% in the 2nd quarter. Czech National Bank now owns 356,096 shares of the bank's stock worth $5,968,000 after purchasing an additional 22,190 shares in the last quarter. Trinity Financial Advisors LLC raised its position in shares of Huntington Bancshares by 1,497.1% during the 2nd quarter. Trinity Financial Advisors LLC now owns 286,896 shares of the bank's stock valued at $4,853,000 after buying an additional 268,933 shares during the period. Finally, Presper Financial Architects LLC purchased a new stake in shares of Huntington Bancshares during the 2nd quarter valued at approximately $811,000. 80.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on HBAN. Citigroup lifted their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Wolfe Research upgraded 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 note on Thursday, July 3rd. Truist Financial upped their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Deutsche Bank Aktiengesellschaft upped their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the company a "buy" rating in a research note on Tuesday, September 30th. Finally, Jefferies Financial Group raised their price objective on shares of Huntington Bancshares from $21.00 to $22.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $19.24.

Insider Transactions at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 41,100 shares of the firm'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 transaction of $739,800.00. Following the sale, the executive vice president owned 299,361 shares in the company, valued at approximately $5,388,498. This trade represents a 12.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.89% of the company's stock.

Huntington Bancshares Trading Down 4.5%

Shares of HBAN opened at $15.60 on Friday. 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 firm has a 50 day simple moving average of $17.10 and a 200-day simple moving average of $16.06. Huntington Bancshares Incorporated has a 1-year low of $11.91 and a 1-year high of $18.44. The stock has a market cap of $22.76 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 0.79 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings data on Wednesday, June 11th. The bank reported $0.28 earnings per share for the quarter. Huntington Bancshares had a net margin of 17.36% and a return on equity of 11.81%. The business had revenue of $469.00 million during the quarter. Equities analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th were given a dividend of $0.155 per share. The ex-dividend date was Wednesday, September 17th. This represents a $0.62 dividend on an annualized basis and a yield of 4.0%. Huntington Bancshares's dividend payout ratio (DPR) is 45.93%.

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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