Versor Investments LP Purchases 78,900 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• Versor Investments LP increased its stake in Huntington Bancshares by 65.7% during the 1st quarter, now holding 199,000 shares valued at approximately $2.987 million.
• Analysts have set new price targets for the shares, with Truist Financial raising its target from $18.00 to $19.00, reflecting a "buy" rating according to recent reports.
• Huntington Bancshares declared a quarterly dividend of $0.155 per share to investors on record, which translates to an annual yield of 3.7%.

Versor Investments LP grew its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 65.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199,000 shares of the bank's stock after purchasing an additional 78,900 shares during the quarter. Huntington Bancshares comprises about 0.5% of Versor Investments LP's portfolio, making the stock its 17th biggest position. Versor Investments LP's holdings in Huntington Bancshares were worth $2,987,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in HBAN. Smallwood Wealth Investment Management LLC acquired a new stake in Huntington Bancshares in the first quarter valued at approximately $29,000. LFA Lugano Financial Advisors SA bought a new stake in Huntington Bancshares during the first quarter worth $31,000. Golden State Wealth Management LLC raised its stake in shares of Huntington Bancshares by 516.3% during the 1st quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock worth $33,000 after purchasing an additional 1,869 shares during the period. Wayfinding Financial LLC purchased a new position in Huntington Bancshares in the first quarter valued at about $39,000. Finally, TruNorth Capital Management LLC purchased a new position in Huntington Bancshares in the first quarter valued at approximately $40,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HBAN shares. Raymond James Financial reiterated a "strong-buy" rating and issued a $21.00 target price (up previously from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft upgraded Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 target price on the stock in a research note on Thursday, April 24th. Wall Street Zen downgraded Huntington Bancshares from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. Wolfe Research raised shares of Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 target price on the stock in a report on Thursday, July 3rd. Finally, Argus set a $17.00 price target on Huntington Bancshares in a research report on Friday, April 25th. Two equities research 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 given a Sell rating to the company's stock. Based on data from MarketBeat.com, Huntington Bancshares currently has an average rating of "Moderate Buy" and a consensus target price of $18.68.

Insider Transactions at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 13,700 shares of the business's stock in a transaction 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 transaction, the executive vice president owned 337,879 shares in the company, valued at $5,335,109.41. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.89% of the company's stock.

Huntington Bancshares Stock Up 1.1%

Shares of HBAN stock traded up $0.18 during trading hours on Wednesday, hitting $16.80. 28,477,802 shares of the company's stock traded hands, compared to its average volume of 25,637,650. The stock's fifty day simple moving average is $16.56 and its two-hundred day simple moving average is $15.67. The stock has a market cap of $24.51 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 0.85 and a beta of 0.93. Huntington Bancshares Incorporated has a 12-month low of $11.91 and a 12-month high of $18.44. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.92.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 17th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Wednesday, September 17th. Huntington Bancshares's dividend payout ratio is currently 45.93%.

Huntington Bancshares 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.