Price T Rowe Associates Inc. MD Sells 15,328,620 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• Price T Rowe Associates Inc. reduced its stake in Huntington Bancshares by 17.7%, now holding approximately $1.07 billion worth of shares after selling over 15 million shares in the first quarter.
• Huntington Bancshares recently announced a quarterly dividend of $0.155, translating to an annualized yield of 3.7%, with an ex-dividend date of September 17th.
• Wall Street analysts have issued mixed ratings on Huntington Bancshares, with the consensus rating being a "Moderate Buy" and a price target averaging $18.68.

Price T Rowe Associates Inc. MD decreased its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 17.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,434,275 shares of the bank's stock after selling 15,328,620 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 4.89% of Huntington Bancshares worth $1,072,229,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Smallwood Wealth Investment Management LLC bought a new stake in shares of Huntington Bancshares during the 1st quarter valued at $29,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of Huntington Bancshares during the 1st quarter valued at $31,000. Golden State Wealth Management LLC lifted its holdings in shares of 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 during the last quarter. Wayfinding Financial LLC purchased a new position in Huntington Bancshares in the first quarter worth $39,000. Finally, TruNorth Capital Management LLC purchased a new position in shares of Huntington Bancshares in the 1st quarter worth about $40,000. 80.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 13,700 shares of the business's 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 completion of the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.89% of the stock is owned by insiders.

Huntington Bancshares Stock Performance

NASDAQ HBAN traded up $0.70 during trading hours on Friday, hitting $17.36. The company's stock had a trading volume of 30,878,382 shares, compared to its average volume of 28,155,882. Huntington Bancshares Incorporated has a 12 month low of $11.91 and a 12 month high of $18.44. The company's 50 day simple moving average is $16.63 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 company has a market cap of $25.32 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 0.89 and a beta of 0.93.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 17th will be paid a dividend of $0.155 per share. The ex-dividend date is Wednesday, September 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.6%. Huntington Bancshares's payout ratio is currently 45.93%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on HBAN shares. Wolfe Research raised Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 target price for the company in a research note on Thursday, July 3rd. Raymond James Financial restated a "strong-buy" rating and issued a $21.00 price objective (up from $18.00) on shares of Huntington Bancshares in a report on Tuesday, July 8th. Truist Financial boosted their price target on shares of Huntington Bancshares from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Citigroup raised their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, Wall Street Zen lowered Huntington Bancshares from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.68.

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.