Invesco Ltd. Has $858.37 Million Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Key Points

• Invesco Ltd. has increased its holdings in Huntington Bancshares by 8.7%, acquiring an additional 4,586,607 shares, bringing its total ownership to approximately 57.2 million shares valued at $858 million.
• Huntington Bancshares has announced a quarterly dividend of $0.155, payable on October 1st, reflecting a 3.9% yield with a payout ratio of 45.93%.
• Brokerage firms have set new price targets for Huntington Bancshares, with a consensus average target price of $18.68 and multiple analysts rating the stock as a "buy."

Invesco Ltd. lifted its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,186,593 shares of the bank's stock after buying an additional 4,586,607 shares during the quarter. Invesco Ltd. owned about 3.91% of Huntington Bancshares worth $858,371,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of HBAN. Teacher Retirement System of Texas grew its position in Huntington Bancshares by 1,462.4% in 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. lifted its position 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 buying an additional 2,751 shares during the last quarter. Brown Advisory Inc. raised its position in shares of Huntington Bancshares by 13.5% in the first 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. Snyder Capital Management L P lifted its position in shares of Huntington Bancshares by 19.5% during the fourth quarter. Snyder Capital Management L P now owns 3,097,034 shares of the bank's stock worth $50,389,000 after acquiring an additional 505,278 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in 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 worth $1,681,000 after purchasing an additional 4,321 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Stock Performance

Shares of HBAN stock traded down $0.08 during trading hours on Thursday, reaching $16.65. 12,605,527 shares of the company's stock were exchanged, compared to its average volume of 25,651,127. 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 Incorporated has a 1 year low of $11.91 and a 1 year high of $18.44. The company's 50 day moving average is $16.52 and its two-hundred day moving average is $15.70. The company has a market cap of $24.28 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 0.84 and a beta of 0.93.

Huntington Bancshares Announces Dividend

The business also recently declared 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. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Wednesday, September 17th. Huntington Bancshares's dividend payout ratio (DPR) is 45.93%.

Huntington Bancshares declared that its Board of Directors has initiated a share repurchase program on Thursday, April 17th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the bank to repurchase up to 5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HBAN. TD Cowen assumed coverage on shares of Huntington Bancshares in a report on Thursday, May 15th. They issued a "buy" rating and a $20.00 price target on the stock. Royal Bank Of Canada lowered their price target on Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Citigroup lifted their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods dropped their price objective on shares of Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st. Finally, Cowen assumed coverage on shares of Huntington Bancshares in a research note on Wednesday, May 14th. They issued a "buy" rating on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $18.68.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 13,700 shares of the business'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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.89% of the stock is currently 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.