Candriam S.C.A. Trims Stock Holdings in Huntington Bancshares Incorporated $HBAN

Key Points

• Candriam S.C.A. has reduced its stake in Huntington Bancshares by 13.0%, decreasing its ownership to 180,320 shares valued at approximately $2.7 million.
• Hsbc Holdings PLC significantly increased its holdings in Huntington Bancshares by 22.6%, acquiring over 1.4 million shares, bringing its total to approximately $113.9 million in value.
• The company has announced a quarterly dividend of $0.155 per share, representing an annual yield of 3.6%, to be paid to shareholders of record on September 17th.

Candriam S.C.A. decreased its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 13.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 180,320 shares of the bank's stock after selling 26,848 shares during the quarter. Candriam S.C.A.'s holdings in Huntington Bancshares were worth $2,707,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Teacher Retirement System of Texas raised 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 valued at $3,188,000 after purchasing an additional 198,796 shares during the last quarter. QRG Capital Management Inc. increased its stake in shares of Huntington Bancshares by 11.9% during the first quarter. QRG Capital Management Inc. now owns 25,827 shares of the bank's stock valued at $388,000 after buying an additional 2,751 shares during the period. Brown Advisory Inc. raised its holdings in shares of Huntington Bancshares by 13.5% during the first quarter. Brown Advisory Inc. now owns 36,467 shares of the bank's stock valued at $547,000 after acquiring an additional 4,347 shares in the last quarter. Snyder Capital Management L P lifted its stake in Huntington Bancshares by 19.5% in the fourth quarter. Snyder Capital Management L P now owns 3,097,034 shares of the bank's stock worth $50,389,000 after acquiring an additional 505,278 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its position in Huntington Bancshares by 4.0% during 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 buying an additional 4,321 shares in the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Marcy C. Hingst sold 13,700 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was 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 directly owned 337,879 shares of the company's stock, valued at $5,335,109.41. This trade represents a 3.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.89% of the company's stock.

Huntington Bancshares Stock Performance

Huntington Bancshares stock traded down $0.04 during trading on Thursday, reaching $17.77. The company had a trading volume of 7,352,062 shares, compared to its average volume of 25,492,273. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.92. The firm's 50-day simple moving average is $16.74 and its 200 day simple moving average is $15.70. The firm has a market capitalization of $25.92 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 0.90 and a beta of 0.93. Huntington Bancshares Incorporated has a 52 week low of $11.91 and a 52 week high of $18.44.

Huntington Bancshares Dividend Announcement

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

Analysts Set New Price Targets

HBAN has been the topic of a number of recent research reports. Citigroup increased their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Truist Financial raised their price target on shares of Huntington Bancshares from $18.00 to $19.00 and gave the company a "buy" rating in a research report on Friday, June 13th. Jefferies Financial Group started coverage on Huntington Bancshares in a research note on Wednesday, May 21st. They set a "buy" rating and a $20.00 target price on the stock. Raymond James Financial reaffirmed a "strong-buy" rating and set a $21.00 price target (up from $18.00) on shares of Huntington Bancshares in a report on Tuesday, July 8th. Finally, TD Cowen started coverage on Huntington Bancshares in a research report on Thursday, May 15th. They set a "buy" rating and a $20.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average 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.