Huntington Bancshares Incorporated $HBAN Stock Position Lowered by Aspen Investment Management Inc

Key Points

• Aspen Investment Management Inc has reduced its stake in Huntington Bancshares by 27.1%, now holding 70,743 shares valued at approximately $1,062,000.
• Huntington Bancshares recently announced a $0.155 quarterly dividend set to be paid on October 1st, with a current yield of 3.5%.
• Multiple research firms have upgraded their price targets for Huntington Bancshares, with DA Davidson raising its target from $18.00 to $20.00 and maintaining a "buy" rating.

Aspen Investment Management Inc lessened its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 27.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 70,743 shares of the bank's stock after selling 26,252 shares during the quarter. Aspen Investment Management Inc's holdings in Huntington Bancshares were worth $1,062,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Smallwood Wealth Investment Management LLC purchased a new stake in Huntington Bancshares in the 1st quarter worth approximately $29,000. Quarry LP lifted its position in Huntington Bancshares by 73.0% in the 1st quarter. Quarry LP now owns 1,929 shares of the bank's stock worth $29,000 after buying an additional 814 shares in the last quarter. LFA Lugano Financial Advisors SA purchased a new stake in Huntington Bancshares in the 1st quarter worth approximately $31,000. Golden State Wealth Management LLC lifted its position in Huntington Bancshares by 516.3% in the 1st quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock worth $33,000 after buying an additional 1,869 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in Huntington Bancshares in the 1st quarter worth approximately $39,000. Hedge funds and other institutional investors own 80.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HBAN. DA Davidson increased their target price on shares of Huntington Bancshares from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Cowen began coverage on shares of Huntington Bancshares in a research report on Wednesday, May 14th. They issued a "buy" rating for the company. Truist Financial increased their target price on shares of Huntington Bancshares from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Wall Street Zen downgraded shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. Finally, Jefferies Financial Group raised their price target on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $18.74.

Insider Buying and Selling

In related news, EVP Marcy C. Hingst sold 41,100 shares of Huntington Bancshares stock in a transaction on Friday, September 5th. The shares were sold at an average price of $18.00, for a total value of $739,800.00. Following the transaction, the executive vice president owned 299,361 shares in the company, valued at $5,388,498. This trade represents a 12.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.89% of the stock is owned by company insiders.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $17.64 on Wednesday. The company has a market capitalization of $25.73 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 0.86 and a beta of 0.97. Huntington Bancshares Incorporated has a one year low of $11.91 and a one year high of $18.44. 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 company's fifty day moving average price is $16.99 and its 200 day moving average price is $15.76.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th will be issued 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 (DPR) is 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.

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