OMERS ADMINISTRATION Corp Increases Stake in Huntington Bancshares Incorporated $HBAN

Key Points

• OMERS ADMINISTRATION Corp significantly increased its stake in Huntington Bancshares by 170.9%, acquiring an additional 103,273 shares, bringing its total holdings to 163,697 shares worth approximately $2.45 million.
• Huntington Bancshares has recently announced a quarterly dividend of $0.155 per share, which will be paid on October 1st, representing an annualized dividend yield of 3.5%.
• Wall Street analysts have mixed ratings for Huntington Bancshares, with two Strong Buy ratings and a consensus price target of $18.68, reflecting varying confidence in the company's future performance.

OMERS ADMINISTRATION Corp raised its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 170.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 163,697 shares of the bank's stock after buying an additional 103,273 shares during the period. OMERS ADMINISTRATION Corp's holdings in Huntington Bancshares were worth $2,457,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HBAN. Wall Street Zen downgraded shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. Truist Financial raised their price objective on Huntington Bancshares from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Wolfe Research raised shares of Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 target price for the company in a report on Thursday, July 3rd. Cowen started coverage on shares of Huntington Bancshares in a report on Wednesday, May 14th. They set a "buy" rating on the stock. Finally, Jefferies Financial Group assumed coverage on shares of Huntington Bancshares in a research report on Wednesday, May 21st. They issued a "buy" rating and a $20.00 price target for the company. 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 stock. According to MarketBeat, Huntington Bancshares presently has a consensus rating of "Moderate Buy" and an average target price of $18.68.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN traded down $0.13 during midday trading on Tuesday, reaching $17.68. 30,102,715 shares of the stock traded hands, compared to its average volume of 25,588,387. The company's 50 day moving average is $16.86 and its 200 day moving average is $15.70. Huntington Bancshares Incorporated has a one year low of $11.91 and a one year high of $18.44. 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 stock has a market capitalization of $25.79 billion, a PE ratio of 13.10, a P/E/G ratio of 0.91 and a beta of 0.96.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th will be given a $0.155 dividend. The ex-dividend date is Wednesday, September 17th. This represents a $0.62 annualized dividend and a yield of 3.5%. Huntington Bancshares's dividend payout ratio (DPR) is currently 45.93%.

Insiders Place Their Bets

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 13,700 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $15.79, for a total transaction of $216,323.00. Following the sale, the executive vice president directly owned 337,879 shares in the company, valued at $5,335,109.41. This represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.89% of the stock is owned by insiders.

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.