Newport Trust Company LLC Sells 151,541 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• Newport Trust Company LLC has decreased its holdings in Huntington Bancshares by 1.4%, now owning approximately 10.76 million shares valued at $161.48 million.
• In recent analyst evaluations, Huntington Bancshares received a buy rating from Jefferies Financial Group and different price targets from various firms, indicating a consensus target price of $18.68.
• The company announced a quarterly dividend of $0.155, representing an annual yield of 3.7%, with the dividend payout ratio at 45.93%.

Newport Trust Company LLC decreased its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,758,411 shares of the bank's stock after selling 151,541 shares during the period. Huntington Bancshares makes up 0.4% of Newport Trust Company LLC's portfolio, making the stock its 29th largest holding. Newport Trust Company LLC owned approximately 0.74% of Huntington Bancshares worth $161,484,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. 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 worth $858,371,000 after buying an additional 4,586,607 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Huntington Bancshares by 126.6% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,048,773 shares of the bank's stock worth $114,684,000 after buying an additional 3,938,769 shares in the last quarter. Nuveen LLC acquired a new stake in Huntington Bancshares during the first quarter worth $50,078,000. Deutsche Bank AG boosted its stake in Huntington Bancshares by 47.7% during the first quarter. Deutsche Bank AG now owns 8,870,393 shares of the bank's stock worth $133,145,000 after buying an additional 2,865,727 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 worth $234,658,000 after buying an additional 2,241,926 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company's stock.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN traded up $0.70 during midday trading on Friday, reaching $17.36. 30,878,382 shares of the company traded hands, compared to its average volume of 28,155,882. The firm has a market cap of $25.32 billion, a PE ratio of 12.86, a PEG ratio of 0.89 and a beta of 0.93. The stock's 50-day simple moving average is $16.63 and its 200-day simple moving average is $15.67. Huntington Bancshares Incorporated has a 12 month low of $11.91 and a 12 month high of $18.44. 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 firm 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 $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Wednesday, September 17th. Huntington Bancshares's payout ratio is currently 45.93%.

Insider Activity

In related news, EVP Marcy C. Hingst sold 13,700 shares of Huntington Bancshares stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $15.79, for a total value of $216,323.00. Following the completion of the transaction, the executive vice president directly owned 337,879 shares of the company's stock, valued at $5,335,109.41. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.89% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

HBAN has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of Huntington Bancshares in a research note on Wednesday, May 21st. They set a "buy" rating and a $20.00 price target on the stock. TD Cowen initiated coverage on shares of Huntington Bancshares in a research note on Thursday, May 15th. They set a "buy" rating and a $20.00 price target on the stock. Raymond James Financial reiterated a "strong-buy" rating and set a $21.00 price target (up previously from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. Wolfe Research raised Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price objective for the company in a report on Thursday, July 3rd. Finally, Truist Financial lifted their price objective on Huntington Bancshares from $18.00 to $19.00 and gave the company a "buy" rating in a report on Friday, June 13th. Two equities research 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 issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.68.

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.