IFM Investors Pty Ltd Buys 18,686 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• IFM Investors Pty Ltd increased its stake in Huntington Bancshares Incorporated by 6.4%, acquiring an additional 18,686 shares for a total of 309,501 shares valued at approximately $5.19 million.
• The company declared a quarterly dividend of $0.155 per share, with an annualized dividend yield of 3.5%, set to be paid on October 1st.
• Analysts have varying ratings on Huntington Bancshares, with a consensus rating of "Moderate Buy" and an average price target of $18.79.

IFM Investors Pty Ltd lifted its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 6.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 309,501 shares of the bank's stock after acquiring an additional 18,686 shares during the quarter. IFM Investors Pty Ltd's holdings in Huntington Bancshares were worth $5,187,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of HBAN. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Huntington Bancshares by 0.4% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 164,551 shares of the bank's stock worth $2,758,000 after purchasing an additional 668 shares during the last quarter. Foundations Investment Advisors LLC raised its holdings in Huntington Bancshares by 2.4% during the first quarter. Foundations Investment Advisors LLC now owns 29,023 shares of the bank's stock worth $436,000 after purchasing an additional 691 shares in the last quarter. Winch Advisory Services LLC boosted its position in shares of Huntington Bancshares by 18.3% during the 1st quarter. Winch Advisory Services LLC now owns 4,579 shares of the bank's stock worth $69,000 after purchasing an additional 709 shares in the last quarter. Quarry LP increased its position in shares of Huntington Bancshares by 73.0% in the first quarter. Quarry LP now owns 1,929 shares of the bank's stock valued at $29,000 after buying an additional 814 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its position in Huntington Bancshares by 5.5% during the first quarter. First Horizon Advisors Inc. now owns 16,073 shares of the bank's stock worth $241,000 after buying an additional 844 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company's stock.

Huntington Bancshares Stock Performance

Shares of HBAN stock traded down $0.39 during trading hours on Monday, reaching $17.33. 21,662,693 shares of the company's stock were exchanged, compared to its average volume of 26,378,456. The business has a fifty day moving average price of $17.02 and a 200-day moving average price of $15.87. The stock has a market capitalization of $25.28 billion, a P/E ratio of 12.84, a P/E/G ratio of 0.86 and a beta of 0.96. 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 Incorporated has a fifty-two week low of $11.91 and a fifty-two week high of $18.44.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 17th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, September 17th. Huntington Bancshares's payout ratio is presently 45.93%.

Insider Transactions at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 41,100 shares of Huntington Bancshares stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 299,361 shares in the company, valued at approximately $5,388,498. The trade was a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.89% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

HBAN has been the subject of a number of recent analyst reports. Jefferies Financial Group boosted their target price 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. Citigroup increased their target price on Huntington Bancshares from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Friday. Wall Street Zen lowered Huntington Bancshares from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. DA Davidson lifted their price objective on Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Finally, Wolfe Research upgraded Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 target price for the company in a report on Thursday, July 3rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.84.

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.