Jump Financial LLC Purchases 459,829 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• Jump Financial LLC significantly increased its stake in Huntington Bancshares by 664.3%, acquiring a total of 529,051 shares valued at approximately $7.9 million.
• Analysts have responded positively to Huntington Bancshares, with brokerages like Citigroup and DA Davidson raising their price target to $20.00 and issuing "buy" ratings.
• The bank has announced a quarterly dividend of $0.155, reflecting an annualized yield of 3.6%, scheduled for payment on October 1st.

Jump Financial LLC increased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 664.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 529,051 shares of the bank's stock after purchasing an additional 459,829 shares during the quarter. Jump Financial LLC's holdings in Huntington Bancshares were worth $7,941,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Huntington Bancshares during the first quarter valued at approximately $29,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of Huntington Bancshares during the first quarter valued at approximately $31,000. Golden State Wealth Management LLC raised its holdings in shares of Huntington Bancshares by 516.3% during the first quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock valued at $33,000 after acquiring an additional 1,869 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Huntington Bancshares during the first quarter valued at approximately $39,000. Finally, TruNorth Capital Management LLC acquired a new stake in shares of Huntington Bancshares during the first quarter valued at approximately $40,000. 80.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on HBAN shares. Truist Financial boosted their target price 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. Wolfe Research raised shares of Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 target price for the company in a research report on Thursday, July 3rd. Jefferies Financial Group initiated coverage on shares of Huntington Bancshares in a research report on Wednesday, May 21st. They issued a "buy" rating and a $20.00 target price for the company. Wall Street Zen downgraded shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $21.00 target price (up from $18.00) on shares of Huntington Bancshares in a research report on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $18.68.

Huntington Bancshares Stock Performance

Shares of HBAN stock remained flat at $17.80 during mid-day trading on Thursday. 20,291,663 shares of the stock were exchanged, compared to its average volume of 25,576,938. The company has a market capitalization of $25.97 billion, a P/E ratio of 13.19, a P/E/G ratio of 0.90 and a beta of 0.93. 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's fifty day moving average is $16.74 and its 200-day moving average is $15.70. Huntington Bancshares Incorporated has a 52 week low of $11.91 and a 52 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. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.5%. Huntington Bancshares's dividend payout ratio is currently 45.93%.

Insider Buying and Selling

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 13,700 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $15.79, for a total transaction of $216,323.00. Following the sale, the executive vice president owned 337,879 shares of the company's stock, valued at $5,335,109.41. This represents a 3.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.89% of the stock is currently owned by corporate 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.