Patton Fund Management Inc. Takes $256,000 Position in Huntington Bancshares Incorporated $HBAN

Key Points

• Patton Fund Management Inc. has acquired a new position in Huntington Bancshares, purchasing 15,297 shares valued at approximately $256,000.
• Several large investors have also increased their stakes in Huntington Bancshares, with institutional investors now owning 80.72% of the company's stock.
• Huntington Bancshares announced a quarterly dividend of $0.155 per share, representing a 3.6% dividend yield, set to be paid on October 1st.

Patton Fund Management Inc. bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,297 shares of the bank's stock, valued at approximately $256,000.

A number of other large investors also recently modified their holdings of HBAN. NorthCrest Asset Manangement LLC lifted its holdings in shares of Huntington Bancshares by 7.7% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 12,013 shares of the bank's stock valued at $195,000 after purchasing an additional 856 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Huntington Bancshares by 89.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 376,733 shares of the bank's stock valued at $6,129,000 after acquiring an additional 177,356 shares during the last quarter. First Hawaiian Bank increased its position in shares of Huntington Bancshares by 42.3% during the first quarter. First Hawaiian Bank now owns 47,324 shares of the bank's stock valued at $710,000 after acquiring an additional 14,062 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Huntington Bancshares by 410.9% during the first quarter. Versant Capital Management Inc now owns 5,492 shares of the bank's stock valued at $82,000 after acquiring an additional 4,417 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Huntington Bancshares by 1,497.1% during the first quarter. GAMMA Investing LLC now owns 633,362 shares of the bank's stock valued at $95,070,000 after acquiring an additional 593,706 shares during the last quarter. Institutional investors own 80.72% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HBAN. Wall Street Zen downgraded Huntington Bancshares from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. Citigroup increased their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Truist Financial increased their price target on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Wolfe Research raised Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price target for the company in a research report on Thursday, July 3rd. Finally, Jefferies Financial Group increased their price target on Huntington Bancshares from $21.00 to $22.00 and gave the company a "buy" rating in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $18.89.

Insider Buying and Selling at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 41,100 shares of Huntington Bancshares stock in a transaction on Friday, September 5th. The stock was sold at an average price of $18.00, for a total value of $739,800.00. Following the completion of the transaction, the executive vice president directly owned 299,361 shares in the company, valued at approximately $5,388,498. The trade was a 12.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.89% of the company's stock.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $17.42 on Friday. 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 business has a fifty day simple moving average of $17.07 and a two-hundred day simple moving average of $15.94. Huntington Bancshares Incorporated has a 1 year low of $11.91 and a 1 year high of $18.44. The company has a market capitalization of $25.41 billion, a P/E ratio of 12.90, a P/E/G ratio of 0.84 and a beta of 0.97.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 dividend yield of 3.6%. Huntington Bancshares's payout ratio is 45.93%.

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.

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