OneAscent Investment Solutions LLC Purchases New Position in Huntington Bancshares Incorporated $HBAN

Key Points

• OneAscent Investment Solutions LLC has acquired 31,315 shares of Huntington Bancshares, valued at approximately $470,000, marking a new position for the firm in the bank.
• Huntington Bancshares is set to pay a quarterly dividend of $0.155 per share on October 1st, representing a 3.7% annual yield, with a current dividend payout ratio of 45.93%.
• Institutional investors hold 80.72% of Huntington Bancshares' stock, reflecting strong investor interest and involvement in the company's operations.

OneAscent Investment Solutions LLC purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 31,315 shares of the bank's stock, valued at approximately $470,000.

Several other hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Huntington Bancshares by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 173,956,974 shares of the bank's stock valued at $2,611,094,000 after buying an additional 978,565 shares during the period. Invesco Ltd. increased its stake in Huntington Bancshares by 8.7% in the 1st quarter. Invesco Ltd. now owns 57,186,593 shares of the bank's stock valued at $858,371,000 after purchasing an additional 4,586,607 shares in the last quarter. Victory Capital Management Inc. increased its stake in Huntington Bancshares by 9.2% in the 1st quarter. Victory Capital Management Inc. now owns 23,828,775 shares of the bank's stock valued at $357,670,000 after purchasing an additional 2,003,683 shares in the last quarter. Federated Hermes Inc. increased its stake in Huntington Bancshares by 2.5% in the 1st quarter. Federated Hermes Inc. now owns 20,103,485 shares of the bank's stock valued at $301,753,000 after purchasing an additional 498,182 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Huntington Bancshares by 18.4% in the 4th quarter. Northern Trust Corp now owns 14,422,723 shares of the bank's stock valued at $234,658,000 after purchasing an additional 2,241,926 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Huntington Bancshares

In other 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 transaction, the executive vice president directly owned 337,879 shares in the company, valued at approximately $5,335,109.41. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.89% of the company's stock.

Huntington Bancshares Stock Down 0.4%

HBAN traded down $0.0650 during trading on Tuesday, reaching $16.6150. 8,709,317 shares of the stock traded hands, compared to its average volume of 25,538,139. Huntington Bancshares Incorporated has a fifty-two week low of $11.91 and a fifty-two week high of $18.44. The stock's 50-day simple moving average is $16.56 and its two-hundred day simple moving average is $15.67. 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 cap of $24.24 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 0.85 and a beta of 0.93.

Huntington Bancshares Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Wednesday, September 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.7%. Huntington Bancshares's payout ratio is presently 45.93%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Wall Street Zen downgraded Huntington Bancshares from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. DA Davidson raised their price objective on Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Royal Bank Of Canada dropped their price objective on Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. TD Cowen assumed coverage on Huntington Bancshares in a research report on Thursday, May 15th. They set a "buy" rating and a $20.00 price target for the company. Finally, Citigroup raised their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $18.68.

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.