Ameriprise Financial Inc. Has $53.36 Million Holdings in Huntington Bancshares Incorporated $HBAN

Key Points

• Ameriprise Financial Inc. sold 81,451 shares of Huntington Bancshares, decreasing its holdings by 2.2%, now owning approximately 3.55 million shares valued at $53.36 million.
• Institutional investors now own 80.72% of Huntington Bancshares stock, with significant stake increases from firms like Invesco Ltd. and DZ BANK AG.
• A number of analysts have positive forecasts for Huntington Bancshares, with target prices raised to between $19.00 and $21.00, reflecting optimism about the company's growth prospects.

Ameriprise Financial Inc. lessened its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 2.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,551,145 shares of the bank's stock after selling 81,451 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.24% of Huntington Bancshares worth $53,357,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Teacher Retirement System of Texas boosted its stake in shares of Huntington Bancshares by 1,462.4% in the 1st quarter. Teacher Retirement System of Texas now owns 212,390 shares of the bank's stock valued at $3,188,000 after purchasing an additional 198,796 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of Huntington Bancshares by 11.9% in the 1st quarter. QRG Capital Management Inc. now owns 25,827 shares of the bank's stock valued at $388,000 after purchasing an additional 2,751 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of Huntington Bancshares by 13.5% in the 1st quarter. Brown Advisory Inc. now owns 36,467 shares of the bank's stock valued at $547,000 after purchasing an additional 4,347 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Huntington Bancshares by 4.0% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 111,990 shares of the bank's stock valued at $1,681,000 after purchasing an additional 4,321 shares during the last quarter. Finally, NBC Securities Inc. boosted its stake in shares of Huntington Bancshares by 99,980.0% in the 1st quarter. NBC Securities Inc. now owns 10,008 shares of the bank's stock valued at $150,000 after purchasing an additional 9,998 shares during the last quarter. Institutional investors own 80.72% of the company's stock.

Huntington Bancshares Stock Down 0.7%

HBAN stock traded down $0.13 during mid-day trading on Tuesday, hitting $17.68. 30,102,715 shares of the company were exchanged, compared to its average volume of 22,934,182. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $25.79 billion, a P/E ratio of 13.10, a P/E/G ratio of 0.91 and a beta of 0.97. The firm's 50 day simple moving average is $16.89 and its 200 day simple moving average is $15.72. Huntington Bancshares Incorporated has a 1-year low of $11.91 and a 1-year high of $18.44.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 17th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, September 17th. Huntington Bancshares's dividend payout ratio (DPR) is 45.93%.

Insider Buying and Selling

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 13,700 shares of the firm'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 sale, the executive vice president directly owned 337,879 shares in the company, valued at approximately $5,335,109.41. This trade represents a 3.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.89% of the company's stock.

Wall Street Analyst Weigh In

HBAN has been the topic of several recent research reports. Wall Street Zen lowered shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. DA Davidson lifted 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. Citigroup lifted their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Jefferies Financial Group assumed coverage on shares of Huntington Bancshares in a research note on Wednesday, May 21st. They set a "buy" rating and a $20.00 price objective on the stock. Finally, Wolfe Research raised shares of Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price objective on the stock in a research note on Thursday, July 3rd. Two equities 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 given a Sell rating to the stock. Based on data from MarketBeat, Huntington Bancshares has an average rating of "Moderate Buy" and a consensus price target of $18.68.

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.