MBB Public Markets I LLC Takes Position in Huntington Bancshares Incorporated $HBAN

Key Points

• MBB Public Markets I LLC has acquired a new stake in Huntington Bancshares, purchasing 21,140 shares valued at approximately $317,000 in the first quarter.
• Institutional investors own 80.72% of Huntington Bancshares stock, with significant recent activity including CoreCap Advisors boosting their stake by 18% and Gotham Asset Management increasing theirs by 28.9%.
• Huntington Bancshares has declared a quarterly dividend of $0.155 per share, representing an annualized dividend of $0.62 and a dividend yield of 3.5%.

MBB Public Markets I LLC purchased a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 21,140 shares of the bank's stock, valued at approximately $317,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of HBAN. Caxton Associates LLP acquired a new stake in shares of Huntington Bancshares during the 1st quarter worth approximately $443,000. Voleon Capital Management LP acquired a new stake in shares of Huntington Bancshares during the 1st quarter worth approximately $282,000. CTC Alternative Strategies Ltd. grew its stake in shares of Huntington Bancshares by 719.0% during the 1st quarter. CTC Alternative Strategies Ltd. now owns 86,500 shares of the bank's stock worth $1,298,000 after purchasing an additional 75,938 shares during the period. Rockport Wealth LLC acquired a new stake in shares of Huntington Bancshares during the 1st quarter worth approximately $378,000. Finally, Nissay Asset Management Corp Japan ADV grew its stake in shares of Huntington Bancshares by 1.2% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 177,762 shares of the bank's stock worth $2,668,000 after purchasing an additional 2,184 shares during the period. Institutional investors and hedge funds own 80.72% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on HBAN. Wolfe Research raised shares of Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price objective on the stock in a research note on Thursday, July 3rd. Citigroup raised their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Truist Financial increased their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Friday. Jefferies Financial Group increased their target price on Huntington Bancshares from $19.00 to $21.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $21.00 target price (up previously from $18.00) on shares of Huntington Bancshares in a research report on Tuesday, July 8th. Two 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $18.79.

Huntington Bancshares Trading Up 0.2%

Shares of HBAN traded up $0.03 during midday trading on Friday, reaching $17.77. The company had a trading volume of 21,708,807 shares, compared to its average volume of 24,835,348. Huntington Bancshares Incorporated has a 1-year low of $11.91 and a 1-year high of $18.44. The stock has a market cap of $25.92 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 0.86 and a beta of 0.97. The firm has a 50 day simple moving average of $17.00 and a 200-day simple moving average of $15.80. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.92.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 17th. Huntington Bancshares's dividend payout ratio (DPR) is presently 45.93%.

Insider Activity

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 41,100 shares of Huntington Bancshares stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $18.00, for a total value of $739,800.00. Following the completion of the transaction, the executive vice president directly owned 299,361 shares of the company's stock, valued at $5,388,498. The trade was a 12.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.89% of the company's stock.

Huntington Bancshares Company Profile

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.