Interval Partners LP Has $20.01 Million Stake in Huntington Bancshares Incorporated $HBAN

Key Points

• Interval Partners LP reduced its stake in Huntington Bancshares by 6.2%, now owning about 1,333,030 shares valued at $20 million according to recent SEC filings.
• Huntington Bancshares has recently declared a quarterly dividend of $0.155 per share, translating to an annual yield of 3.5% and a payout ratio of 45.93%.
• Equities analysts have generally rated the stock positively, with an average target price of $18.74, and multiple firms have issued buy ratings following recent upgrades.

Interval Partners LP lowered its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 6.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,333,030 shares of the bank's stock after selling 87,604 shares during the quarter. Interval Partners LP owned about 0.09% of Huntington Bancshares worth $20,009,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in HBAN. Smallwood Wealth Investment Management LLC acquired a new position in shares of Huntington Bancshares during the first quarter valued at approximately $29,000. Quarry LP increased its position in shares of Huntington Bancshares by 73.0% during the 1st quarter. Quarry LP now owns 1,929 shares of the bank's stock valued at $29,000 after purchasing an additional 814 shares during the period. LFA Lugano Financial Advisors SA bought a new stake in shares of Huntington Bancshares in the 1st quarter worth $31,000. Golden State Wealth Management LLC lifted its holdings in shares of Huntington Bancshares by 516.3% in the first quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock valued at $33,000 after buying an additional 1,869 shares during the period. Finally, Wayfinding Financial LLC acquired a new stake in shares of Huntington Bancshares in the first quarter valued at $39,000. 80.72% of the stock is owned by institutional investors and hedge funds.

Huntington Bancshares Stock Up 0.6%

Shares of HBAN stock traded up $0.10 during trading on Monday, hitting $17.73. 33,320,133 shares of the company were exchanged, compared to its average volume of 24,229,086. Huntington Bancshares Incorporated has a twelve month low of $11.91 and a twelve month high of $18.44. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $25.86 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 0.85 and a beta of 0.96. The business's 50-day simple moving average is $16.98 and its 200 day simple moving average is $15.74.

Huntington Bancshares Dividend Announcement

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 paid 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 45.93%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wolfe Research raised shares of Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price target for the company in a report on Thursday, July 3rd. Raymond James Financial reissued a "strong-buy" rating and set a $21.00 target price (up from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. Truist Financial lifted their price target 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. Jefferies Financial Group lifted their target price on Huntington Bancshares from $19.00 to $21.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Finally, Cowen began coverage on Huntington Bancshares in a report on Wednesday, May 14th. They set a "buy" rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Huntington Bancshares presently has a consensus rating of "Moderate Buy" and an average target price of $18.74.

Insider Buying and Selling at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 13,700 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $15.79, for a total transaction of $216,323.00. Following the completion of the sale, the executive vice president directly owned 337,879 shares of the company's stock, valued at $5,335,109.41. This trade represents a 3.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.89% of the stock is owned by company insiders.

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.