Northwestern Mutual Wealth Management Co. Purchases 18,148 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in Huntington Bancshares by 25.3%, acquiring an additional 18,148 shares, bringing its total holdings to 89,929 shares valued at approximately $1.35 million.
• Huntington Bancshares announced a quarterly dividend of $0.155 per share, with a dividend yield of 3.5%, to be paid on October 1st.
• Analysts have mixed sentiments on Huntington Bancshares, with ratings varying from a Strong Buy to a Sell, resulting in a consensus price target of $18.68.

Northwestern Mutual Wealth Management Co. grew its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 25.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,929 shares of the bank's stock after purchasing an additional 18,148 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Huntington Bancshares were worth $1,350,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC purchased a new stake in Huntington Bancshares in the 1st quarter valued at approximately $29,000. LFA Lugano Financial Advisors SA acquired a new position in shares of Huntington Bancshares during the 1st quarter valued at $31,000. Golden State Wealth Management LLC lifted its position in Huntington Bancshares by 516.3% during the 1st quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock worth $33,000 after acquiring an additional 1,869 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in Huntington Bancshares during the 1st quarter valued at $39,000. Finally, TruNorth Capital Management LLC acquired a new position in shares of Huntington Bancshares in the first quarter worth about $40,000. Institutional investors and hedge funds own 80.72% of the company's stock.

Insider Buying and Selling

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 13,700 shares of the business's stock in a transaction 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 completion of the sale, the executive vice president owned 337,879 shares in the company, valued at approximately $5,335,109.41. The trade was a 3.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.89% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

HBAN has been the subject of several recent analyst reports. Jefferies Financial Group raised their price objective on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a "buy" rating in a report on Wednesday. Citigroup upped their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Wolfe Research raised shares of Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 target price on the stock in a research report on Thursday, July 3rd. Wall Street Zen downgraded shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $21.00 target price (up previously from $18.00) on shares of Huntington Bancshares in a report on Tuesday, July 8th. Two investment 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 company. According to MarketBeat, Huntington Bancshares presently has an average rating of "Moderate Buy" and a consensus price target of $18.74.

Huntington Bancshares Stock Performance

NASDAQ:HBAN traded up $0.23 during mid-day trading on Thursday, reaching $17.84. 23,503,236 shares of the company's stock were exchanged, compared to its average volume of 25,566,289. 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 Incorporated has a one year low of $11.91 and a one year high of $18.44. The firm has a market capitalization of $26.02 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97. The business's fifty day simple moving average is $16.91 and its two-hundred day simple moving average is $15.73.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 17th will be given a dividend of $0.155 per share. The ex-dividend date is Wednesday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.5%. Huntington Bancshares's dividend payout ratio 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.