Huntington Bancshares Incorporated $HBAN Shares Bought by Northwest & Ethical Investments L.P.

Key Points

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Northwest & Ethical Investments L.P. lifted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 42.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,805 shares of the bank's stock after buying an additional 21,232 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Huntington Bancshares were worth $1,078,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Philadelphia Trust Co. purchased a new position in shares of Huntington Bancshares in the 1st quarter valued at $203,000. Cresset Asset Management LLC grew its position in shares of Huntington Bancshares by 5.6% in the 1st quarter. Cresset Asset Management LLC now owns 43,159 shares of the bank's stock valued at $654,000 after buying an additional 2,286 shares during the last quarter. Horizon Investments LLC grew its position in shares of Huntington Bancshares by 4.3% in the 1st quarter. Horizon Investments LLC now owns 20,864 shares of the bank's stock valued at $313,000 after buying an additional 859 shares during the last quarter. Fox Run Management L.L.C. grew its position in shares of Huntington Bancshares by 100.5% in the 1st quarter. Fox Run Management L.L.C. now owns 20,505 shares of the bank's stock valued at $308,000 after buying an additional 10,278 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC grew its position in shares of Huntington Bancshares by 75.4% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 48,581 shares of the bank's stock valued at $729,000 after buying an additional 20,881 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 13,700 shares of the firm's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $15.79, for a total value of $216,323.00. Following the completion of the sale, the executive vice president owned 337,879 shares in the company, valued at approximately $5,335,109.41. This trade represents a 3.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. TD Cowen assumed 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 for the company. Wall Street Zen cut shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. Wolfe Research upgraded shares of Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price target for the company in a research note on Thursday, July 3rd. Truist Financial increased their price target on shares of Huntington Bancshares from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Finally, Cowen assumed coverage on shares of Huntington Bancshares in a research note on Wednesday, May 14th. They set a "buy" rating for the company. 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.68.

Huntington Bancshares Stock Performance

Shares of HBAN stock traded up $0.70 during mid-day trading on Friday, hitting $17.36. The stock had a trading volume of 30,878,382 shares, compared to its average volume of 28,155,882. Huntington Bancshares Incorporated has a fifty-two week low of $11.91 and a fifty-two week high of $18.44. 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 company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89. The company's 50-day simple moving average is $16.63 and its 200-day simple moving average is $15.67.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 17th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Wednesday, September 17th. Huntington Bancshares's dividend payout ratio (DPR) is 45.93%.

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.