IFM Investors Pty Ltd Purchases 15,597 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• IFM Investors Pty Ltd increased its holdings in Huntington Bancshares by 5.7%, acquiring an additional 15,597 shares, bringing their total ownership to 290,815 shares valued at $4,365,000.
• The company recently announced a quarterly dividend of $0.155 per share, set to be paid on October 1st, with a yield of 3.5%.
• Huntington Bancshares' stock received multiple upgrades from analysts, with price targets raised to as high as $21.00, and a current consensus rating of "Moderate Buy".

IFM Investors Pty Ltd boosted its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 5.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 290,815 shares of the bank's stock after acquiring an additional 15,597 shares during the period. IFM Investors Pty Ltd's holdings in Huntington Bancshares were worth $4,365,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Teacher Retirement System of Texas raised its position in shares of Huntington Bancshares by 1,462.4% during the first quarter. Teacher Retirement System of Texas now owns 212,390 shares of the bank's stock valued at $3,188,000 after buying an additional 198,796 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of Huntington Bancshares by 11.9% during the first quarter. QRG Capital Management Inc. now owns 25,827 shares of the bank's stock valued at $388,000 after buying an additional 2,751 shares during the last quarter. Brown Advisory Inc. raised its position in shares of Huntington Bancshares by 13.5% during the first quarter. Brown Advisory Inc. now owns 36,467 shares of the bank's stock valued at $547,000 after buying an additional 4,347 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of Huntington Bancshares by 4.0% during the first 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 buying an additional 4,321 shares during the last quarter. Finally, NBC Securities Inc. raised its position in shares of Huntington Bancshares by 99,980.0% during the first quarter. NBC Securities Inc. now owns 10,008 shares of the bank's stock valued at $150,000 after buying an additional 9,998 shares during the last quarter. Institutional investors own 80.72% of the company's stock.

Insider Buying and Selling

In other news, EVP Marcy C. Hingst sold 41,100 shares of the company's stock in a transaction dated Friday, September 5th. The shares were 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 $5,388,498. This represents a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.89% of the company's stock.

Huntington Bancshares Stock Up 0.5%

NASDAQ:HBAN opened at $17.74 on Friday. Huntington Bancshares Incorporated has a 1-year low of $11.91 and a 1-year high of $18.44. The company has a 50-day moving average of $17.00 and a 200 day moving average of $15.78. The firm has a market cap of $25.88 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89.

Huntington Bancshares Announces Dividend

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

Wall Street Analysts Forecast Growth

HBAN has been the topic of several research reports. DA Davidson boosted their price target 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. Citigroup boosted their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Wall Street Zen cut shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a research report 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 research report on Thursday, July 3rd. Finally, Raymond James Financial restated a "strong-buy" rating and issued a $21.00 price target (up previously from $18.00) on shares of Huntington Bancshares in a research report on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Huntington Bancshares currently has an average rating of "Moderate Buy" and a consensus price target of $18.74.

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.

Want to see what other hedge funds are holding HBAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.