Kovitz Investment Group Partners LLC Acquires 20,881 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• Kovitz Investment Group Partners LLC has increased its stake in Huntington Bancshares by 75.4%, acquiring an additional 20,881 shares, bringing its total holdings to 48,581 shares valued at approximately $729,000.
• Institutional investors own 80.72% of Huntington Bancshares, with several funds increasing their stakes during the first quarter, including National Pension Service which raised its investment by 7.5%.
• A recent analyst report upgraded Huntington Bancshares from "peer perform" to "outperform," with a price target of $21.00, reflecting positive sentiment about the company's performance.

Kovitz Investment Group Partners LLC boosted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 75.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,581 shares of the bank's stock after purchasing an additional 20,881 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Huntington Bancshares were worth $729,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. OneAscent Investment Solutions LLC bought a new position in Huntington Bancshares in the 1st quarter worth approximately $470,000. National Pension Service boosted its stake in Huntington Bancshares by 7.5% in the 1st quarter. National Pension Service now owns 2,478,111 shares of the bank's stock worth $37,196,000 after purchasing an additional 172,670 shares during the period. Dagco Inc. bought a new position in Huntington Bancshares in the 1st quarter worth approximately $74,000. Russell Investments Group Ltd. boosted its stake in Huntington Bancshares by 5.1% in the 1st quarter. Russell Investments Group Ltd. now owns 1,374,616 shares of the bank's stock worth $20,607,000 after purchasing an additional 66,211 shares during the period. Finally, Resona Asset Management Co. Ltd. boosted its stake in Huntington Bancshares by 5.6% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 460,472 shares of the bank's stock worth $6,896,000 after purchasing an additional 24,366 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Marcy C. Hingst sold 13,700 shares of the stock in a transaction on Friday, June 13th. The stock was 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 in the company, valued at approximately $5,335,109.41. This represents a 3.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.89% of the company's stock.

Analyst Upgrades and Downgrades

HBAN has been the subject of several recent analyst reports. Wolfe Research upgraded Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price target for the company in a research note on Thursday, July 3rd. Jefferies Financial Group started coverage on Huntington Bancshares in a research report on Wednesday, May 21st. They set a "buy" rating and a $20.00 target price for the company. TD Cowen started coverage on Huntington Bancshares in a research report on Thursday, May 15th. They set a "buy" rating and a $20.00 target price for the company. Cowen started coverage on Huntington Bancshares in a research report on Wednesday, May 14th. They set a "buy" rating for the company. Finally, Wall Street Zen downgraded Huntington Bancshares from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. Two research 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.68.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $16.80 on Thursday. The stock's fifty day moving average is $16.58 and its 200 day moving average is $15.68. Huntington Bancshares Incorporated has a fifty-two week low of $11.91 and a fifty-two week high of $18.44. The firm has a market capitalization of $24.51 billion, a PE ratio of 12.44, a PEG ratio of 0.85 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.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.7%. The ex-dividend date is Wednesday, September 17th. Huntington Bancshares's dividend payout ratio is presently 45.93%.

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.

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