NewEdge Advisors LLC Has $4.43 Million Position in Huntington Bancshares Incorporated $HBAN

Key Points

• NewEdge Advisors LLC reduced its stake in Huntington Bancshares by 12.5%, selling 42,098 shares during the first quarter, resulting in holdings worth $4.43 million.
• Huntington Bancshares announced a quarterly dividend of $0.155 per share, payable on October 1st, representing an annualized yield of 3.5%.
• Several analysts have updated their ratings for Huntington Bancshares, with Jefferies Financial Group raising its target price to $21.00 and others issuing a mixture of "strong buy," "buy," and "sell" ratings, contributing to a consensus rating of "Moderate Buy."

NewEdge Advisors LLC cut its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 12.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 295,270 shares of the bank's stock after selling 42,098 shares during the period. NewEdge Advisors LLC's holdings in Huntington Bancshares were worth $4,432,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Huntington Bancshares by 13.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 287,937 shares of the bank's stock valued at $4,322,000 after acquiring an additional 33,150 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Huntington Bancshares by 2.0% in the first quarter. Integrated Wealth Concepts LLC now owns 69,331 shares of the bank's stock valued at $1,041,000 after acquiring an additional 1,342 shares in the last quarter. Eventide Asset Management LLC grew its stake in shares of Huntington Bancshares by 40.1% in the first quarter. Eventide Asset Management LLC now owns 2,262,102 shares of the bank's stock valued at $33,898,000 after acquiring an additional 646,904 shares in the last quarter. Curi RMB Capital LLC grew its stake in shares of Huntington Bancshares by 4.3% in the first quarter. Curi RMB Capital LLC now owns 646,343 shares of the bank's stock valued at $9,801,000 after acquiring an additional 26,362 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Huntington Bancshares by 1.5% in the first quarter. Alliancebernstein L.P. now owns 1,808,383 shares of the bank's stock valued at $27,144,000 after acquiring an additional 27,100 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on HBAN. DA Davidson upped their price target on shares of Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Jefferies Financial Group upped their price objective on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. Raymond James Financial reaffirmed a "strong-buy" rating and set a $21.00 price objective (up previously from $18.00) on shares of Huntington Bancshares in a research report on Tuesday, July 8th. Wolfe Research raised shares of Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price objective for the company in a research report on Thursday, July 3rd. Finally, Citigroup upped their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Huntington Bancshares currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.79.

Huntington Bancshares Price Performance

Shares of HBAN stock traded up $0.03 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. The stock has a market capitalization 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 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 Incorporated has a one year low of $11.91 and a one year high of $18.44. The business's 50-day moving average is $17.00 and its 200 day moving average is $15.80.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 17th will be issued a $0.155 dividend. 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 3.5%. Huntington Bancshares's dividend payout ratio is 45.93%.

Insider Activity at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 41,100 shares of the stock in a transaction dated Friday, September 5th. The shares were 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 owned 299,361 shares of the company's stock, valued at approximately $5,388,498. This represents a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.89% of the company's stock.

Huntington Bancshares 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.