Northern Trust Corp Cuts Stake in Huntington Bancshares Incorporated $HBAN

Key Points

• Northern Trust Corp reduced its holdings in Huntington Bancshares by 1.9%, selling 267,538 shares, and now owns approximately 0.97% of the company's stock, valued at $212.5 million.
• Huntington Bancshares announced a quarterly dividend of $0.155 per share, reflecting a 3.7% yield and bringing its annualized dividend to $0.62.
• Recent analyst reports showed mixed ratings for Huntington Bancshares, with two upgrades to "buy" and a consensus rating of "Moderate Buy" alongside an average price target of $18.68.

Northern Trust Corp lowered its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,155,185 shares of the bank's stock after selling 267,538 shares during the period. Northern Trust Corp owned approximately 0.97% of Huntington Bancshares worth $212,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in HBAN. Smallwood Wealth Investment Management LLC bought a new stake in Huntington Bancshares in the first quarter worth about $29,000. LFA Lugano Financial Advisors SA bought a new stake in shares of Huntington Bancshares during the first quarter valued at approximately $31,000. Golden State Wealth Management LLC raised its stake in shares of Huntington Bancshares by 516.3% during the first quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock valued at $33,000 after acquiring an additional 1,869 shares in the last quarter. Wayfinding Financial LLC bought a new stake in shares of Huntington Bancshares during the first quarter valued at approximately $39,000. Finally, TruNorth Capital Management LLC bought a new stake in shares of Huntington Bancshares during the first quarter valued at approximately $40,000. Institutional investors own 80.72% of the company's stock.

Huntington Bancshares Stock Up 4.2%

HBAN stock traded up $0.70 during trading on Friday, hitting $17.36. 30,878,382 shares of the company's stock traded hands, compared to its average volume of 28,155,882. The firm has a market capitalization of $25.32 billion, a P/E ratio of 12.86, a PEG ratio of 0.89 and a beta of 0.93. The business has a fifty day simple moving average of $16.63 and a two-hundred day simple moving average of $15.67. 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 1 year low of $11.91 and a 1 year high of $18.44.

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 issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, September 17th. Huntington Bancshares's dividend payout ratio (DPR) is presently 45.93%.

Insider Transactions at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 13,700 shares of Huntington Bancshares stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $15.79, for a total transaction of $216,323.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.89% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on HBAN. Jefferies Financial Group began 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 for the company. DA Davidson lifted 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. Cowen began coverage on shares of Huntington Bancshares in a research note on Wednesday, May 14th. They set a "buy" rating for the company. Citigroup lifted their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, Wall Street Zen downgraded shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. 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 given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.