Ieq Capital LLC Raises Holdings in Huntington Bancshares Incorporated $HBAN

Key Points

• Ieq Capital LLC increased its stake in Huntington Bancshares by 341%, owning 441,976 shares worth $6.63 million as of the end of Q1.
• The company declared a quarterly dividend of $0.155, scheduled for payment on October 1st, providing an annual yield of 3.5%.
• Analysts have varied outlooks: Citigroup and Truist both raised their price targets to $20.00 and $19.00 respectively, while market sentiment averages to a "Moderate Buy."

Ieq Capital LLC raised its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 341.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 441,976 shares of the bank's stock after buying an additional 341,761 shares during the quarter. Ieq Capital LLC's holdings in Huntington Bancshares were worth $6,634,000 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. Teacher Retirement System of Texas raised its stake in shares of 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 period. QRG Capital Management Inc. raised its stake in shares of Huntington Bancshares by 11.9% during the 1st quarter. QRG Capital Management Inc. now owns 25,827 shares of the bank's stock valued at $388,000 after purchasing an additional 2,751 shares during the period. Brown Advisory Inc. raised its stake in shares of Huntington Bancshares by 13.5% during the 1st quarter. Brown Advisory Inc. now owns 36,467 shares of the bank's stock valued at $547,000 after purchasing an additional 4,347 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in shares of 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 purchasing an additional 4,321 shares during the period. Finally, NBC Securities Inc. raised its stake in shares of Huntington Bancshares by 99,980.0% during the 1st quarter. NBC Securities Inc. now owns 10,008 shares of the bank's stock valued at $150,000 after purchasing an additional 9,998 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Marcy C. Hingst sold 13,700 shares of the company's stock in a transaction dated 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 directly owned 337,879 shares in the company, valued at approximately $5,335,109.41. This represents a 3.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.89% of the company's stock.

Huntington Bancshares Price Performance

Shares of HBAN traded up $0.01 during midday trading on Friday, reaching $17.81. The stock had a trading volume of 22,951,162 shares, compared to its average volume of 24,577,678. The company's 50-day moving average is $16.82 and its 200 day moving average is $15.70. Huntington Bancshares Incorporated has a 12-month low of $11.91 and a 12-month high of $18.44. 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 company has a market capitalization of $25.98 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 0.91 and a beta of 0.96.

Huntington Bancshares Dividend Announcement

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

Analyst Ratings Changes

HBAN has been the topic of a number of analyst reports. Wolfe Research upgraded Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price objective on the stock in a research note on Thursday, July 3rd. TD Cowen began coverage on Huntington Bancshares in a research report on Thursday, May 15th. They set a "buy" rating and a $20.00 target price for the company. Truist Financial boosted their target price on Huntington Bancshares from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. DA Davidson boosted their target price on Huntington Bancshares from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Finally, Jefferies Financial Group began coverage on Huntington Bancshares in a research report on Wednesday, May 21st. They set a "buy" rating and a $20.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Huntington Bancshares currently has an average rating of "Moderate Buy" and a consensus price target of $18.68.

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.