Huntington Bancshares Incorporated $HBAN Shares Sold by Thurston Springer Miller Herd & Titak Inc.

Key Points

• Thurston Springer Miller Herd & Titak Inc. reduced its holdings in Huntington Bancshares by 83.0%, owning only 4,962 shares after selling 24,187 shares in Q2.
• The recent quarterly dividend announced by Huntington Bancshares amounts to $0.155 per share, yielding 3.5%, and will be paid on October 1st.
• Analysts have generally rated Huntington Bancshares positively, with targets being raised to $21.00 by several firms, indicating a consensus rating of "Moderate Buy."

Thurston Springer Miller Herd & Titak Inc. lessened its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 83.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,962 shares of the bank's stock after selling 24,187 shares during the period. Thurston Springer Miller Herd & Titak Inc.'s holdings in Huntington Bancshares were worth $83,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in HBAN. Salem Investment Counselors Inc. increased its position in Huntington Bancshares by 50.8% during the second quarter. Salem Investment Counselors Inc. now owns 45,153 shares of the bank's stock worth $763,000 after buying an additional 15,220 shares during the period. Trinity Financial Advisors LLC grew its stake in shares of Huntington Bancshares by 1,497.1% in the 2nd quarter. Trinity Financial Advisors LLC now owns 286,896 shares of the bank's stock valued at $4,853,000 after purchasing an additional 268,933 shares during the last quarter. City Center Advisors LLC purchased a new position in shares of Huntington Bancshares in the 2nd quarter valued at approximately $220,000. AG2R LA Mondiale Gestion D Actifs purchased a new position in shares of Huntington Bancshares in the 1st quarter valued at approximately $976,000. Finally, Voya Investment Management LLC grew its stake in shares of Huntington Bancshares by 0.4% in the 1st quarter. Voya Investment Management LLC now owns 422,108 shares of the bank's stock valued at $6,336,000 after purchasing an additional 1,566 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HBAN. Citigroup lifted their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Truist Financial lifted their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Raymond James Financial reiterated a "strong-buy" rating and issued a $21.00 target price (up from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. Wolfe Research upgraded Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price target on the stock in a research note on Thursday, July 3rd. Finally, DA Davidson lifted their price target on Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $18.79.

Insider Buying and Selling

In related news, EVP Marcy C. Hingst sold 41,100 shares of the company's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $18.00, for a total value of $739,800.00. Following the completion of the transaction, the executive vice president directly owned 299,361 shares in the company, valued at approximately $5,388,498. This represents a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.89% of the company's stock.

Huntington Bancshares Trading Down 0.8%

Huntington Bancshares stock traded down $0.15 during trading on Friday, hitting $17.72. The company's stock had a trading volume of 36,152,237 shares, compared to its average volume of 26,114,782. The stock has a market capitalization of $25.85 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 0.86 and a beta of 0.97. The stock's fifty day moving average is $17.02 and its 200 day moving average is $15.85. Huntington Bancshares Incorporated has a 1-year low of $11.91 and a 1-year high of $18.44. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.89.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th will be paid a $0.155 dividend. 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 is presently 45.93%.

Huntington Bancshares Company 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.