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. decreased its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 83.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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.

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

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock traded down $0.15 during trading on Friday, hitting $17.72. 36,152,237 shares of the company's stock were exchanged, compared to its average volume of 26,114,782. Huntington Bancshares Incorporated has a 52-week low of $11.91 and a 52-week 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. The stock has a market capitalization of $25.85 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 0.86 and a beta of 0.97. The business has a 50-day simple moving average of $17.02 and a 200-day simple moving average of $15.85.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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 yield of 3.5%. The ex-dividend date is Wednesday, September 17th. Huntington Bancshares's dividend payout ratio (DPR) is currently 45.93%.

Wall Street Analyst Weigh In

Several research firms have recently commented on HBAN. Wall Street Zen lowered Huntington Bancshares from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. Wolfe Research upgraded shares of Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price target on the stock in a report on Thursday, July 3rd. Raymond James Financial reaffirmed a "strong-buy" rating and set a $21.00 price objective (up from $18.00) on shares of Huntington Bancshares in a report on Tuesday, July 8th. Jefferies Financial Group lifted their price target on Huntington Bancshares from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. Finally, Truist Financial raised their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.79.

Insiders Place Their Bets

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 41,100 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $18.00, for a total transaction of $739,800.00. Following the transaction, the executive vice president 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.89% of the company's stock.

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.