National Pension Service Buys 172,670 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• The National Pension Service increased its stake in Huntington Bancshares by 7.5%, acquiring an additional 172,670 shares, bringing its total ownership to approximately 2.48 million shares valued at $37.2 million.
• Several institutional investors have also made moves regarding Huntington Bancshares, with a significant increase in stake from Golden State Wealth Management LLC, which lifted its position by 516.3%.
• Analysts have generally rated Huntington Bancshares positively, with a current average target price of $18.68 and multiple firms upgrading their ratings to "buy."

National Pension Service increased its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 7.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,478,111 shares of the bank's stock after buying an additional 172,670 shares during the quarter. National Pension Service owned about 0.17% of Huntington Bancshares worth $37,196,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Huntington Bancshares by 0.6% in the first quarter. Vanguard Group Inc. now owns 173,956,974 shares of the bank's stock worth $2,611,094,000 after purchasing an additional 978,565 shares in the last quarter. Invesco Ltd. boosted its stake in Huntington Bancshares by 8.7% during the first quarter. Invesco Ltd. now owns 57,186,593 shares of the bank's stock valued at $858,371,000 after buying an additional 4,586,607 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Huntington Bancshares by 9.2% during the first quarter. Victory Capital Management Inc. now owns 23,828,775 shares of the bank's stock valued at $357,670,000 after buying an additional 2,003,683 shares in the last quarter. Federated Hermes Inc. boosted its stake in Huntington Bancshares by 2.5% during the first quarter. Federated Hermes Inc. now owns 20,103,485 shares of the bank's stock valued at $301,753,000 after buying an additional 498,182 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Huntington Bancshares by 18.4% during the fourth quarter. Northern Trust Corp now owns 14,422,723 shares of the bank's stock valued at $234,658,000 after buying an additional 2,241,926 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors.

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.

Huntington Bancshares Stock Up 0.3%

Shares of NASDAQ HBAN traded up $0.0550 during mid-day trading on Wednesday, reaching $16.6750. The company had a trading volume of 18,797,569 shares, compared to its average volume of 25,568,783. Huntington Bancshares Incorporated has a 12-month low of $11.91 and a 12-month high of $18.44. The stock has a fifty day moving average of $16.56 and a two-hundred day moving average of $15.67. 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 company has a market capitalization of $24.33 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 0.85 and a beta of 0.93.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 17th will be paid 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 dividend yield of 3.7%. Huntington Bancshares's dividend payout ratio (DPR) is 45.93%.

Analysts Set New Price Targets

HBAN has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 target price for the company in a report on Thursday, April 24th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $21.00 target price (up from $18.00) on shares of Huntington Bancshares in a report on Tuesday, July 8th. Argus set a $17.00 target price on Huntington Bancshares in a report on Friday, April 25th. Truist Financial upped their target price on Huntington Bancshares from $18.00 to $19.00 and gave the company a "buy" rating in a report on Friday, June 13th. Finally, DA Davidson upped their target price on Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a report on Monday, July 21st. 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Huntington Bancshares presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.68.

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.