Perbak Capital Partners LLP Purchases New Holdings in Huntington Bancshares Incorporated $HBAN

Key Points

• Perbak Capital Partners LLP acquired a new stake in Huntington Bancshares, purchasing 23,107 shares worth approximately $347,000, as per a recent SEC filing.
• Institutional investors own 80.72% of Huntington Bancshares, with significant increases in holdings reported by multiple hedge funds during the 1st quarter.
• The company recently announced a quarterly dividend of $0.155 per share, yielding 3.5%, to be paid out on October 1st to shareholders of record.

Perbak Capital Partners LLP purchased a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 23,107 shares of the bank's stock, valued at approximately $347,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV boosted its holdings in Huntington Bancshares by 12.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 43,808 shares of the bank's stock worth $713,000 after buying an additional 5,022 shares in the last quarter. Ancora Advisors LLC increased its position in Huntington Bancshares by 6.1% in the 4th quarter. Ancora Advisors LLC now owns 69,106 shares of the bank's stock worth $1,124,000 after purchasing an additional 4,000 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Huntington Bancshares during the 4th quarter valued at about $28,859,000. Cary Street Partners Financial LLC bought a new stake in shares of Huntington Bancshares in the 4th quarter valued at approximately $3,555,000. Finally, Captrust Financial Advisors lifted its stake in shares of Huntington Bancshares by 0.8% in the 4th quarter. Captrust Financial Advisors now owns 156,671 shares of the bank's stock valued at $2,549,000 after purchasing an additional 1,253 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Stock Performance

HBAN traded down $0.25 during trading hours on Friday, hitting $17.63. The stock had a trading volume of 34,893,460 shares, compared to its average volume of 23,410,230. Huntington Bancshares Incorporated has a 1 year low of $11.91 and a 1 year high of $18.44. The company's fifty day simple moving average is $16.96 and its 200 day simple moving average is $15.74. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The stock has a market cap of $25.72 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 0.92 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 issued a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. Huntington Bancshares's dividend payout ratio is presently 45.93%.

Insiders Place Their Bets

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 13,700 shares of Huntington Bancshares stock in a transaction that occurred 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 transaction, the executive vice president directly owned 337,879 shares of the company's stock, valued at approximately $5,335,109.41. This trade represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.89% of the stock is owned by insiders.

Analyst Ratings Changes

HBAN has been the topic of a number of recent analyst reports. Truist Financial raised their price objective on Huntington Bancshares from $18.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, June 13th. TD Cowen began coverage on Huntington Bancshares in a report on Thursday, May 15th. They set a "buy" rating and a $20.00 price objective on the stock. Cowen assumed coverage on shares of Huntington Bancshares in a research note on Wednesday, May 14th. They set a "buy" rating for the company. DA Davidson lifted their price target on Huntington Bancshares from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, July 21st. 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 issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Huntington Bancshares currently has a consensus rating of "Moderate Buy" and an average target price of $18.74.

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.