Raymond James Financial Inc. Lowers Holdings in Huntington Bancshares Incorporated $HBAN

Key Points

• Raymond James Financial Inc. has reduced its stake in Huntington Bancshares Incorporated by 0.8%, owning 9.17 million shares worth approximately $137.7 million after selling 71,227 shares during the 1st quarter.
• Other institutional investors have made notable adjustments to their positions, with Invesco Ltd. increasing its stake by 8.7% and DZ BANK AG boosting its shares by 126.6%.
• Huntington Bancshares has declared a quarterly dividend of $0.155 per share, representing an annualized yield of 3.7%, which will be paid to stockholders of record by October 1st.

Raymond James Financial Inc. decreased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 0.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,175,486 shares of the bank's stock after selling 71,227 shares during the period. Raymond James Financial Inc. owned about 0.63% of Huntington Bancshares worth $137,724,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Foundations Investment Advisors LLC grew its holdings in shares of Huntington Bancshares by 2.4% in the first quarter. Foundations Investment Advisors LLC now owns 29,023 shares of the bank's stock worth $436,000 after acquiring an additional 691 shares during the period. Winch Advisory Services LLC grew its holdings in shares of Huntington Bancshares by 18.3% in the first quarter. Winch Advisory Services LLC now owns 4,579 shares of the bank's stock worth $69,000 after acquiring an additional 709 shares during the period. First Horizon Advisors Inc. grew its holdings in shares of Huntington Bancshares by 5.5% in the first quarter. First Horizon Advisors Inc. now owns 16,073 shares of the bank's stock worth $241,000 after acquiring an additional 844 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of Huntington Bancshares by 4.0% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 21,835 shares of the bank's stock worth $328,000 after acquiring an additional 847 shares during the period. Finally, NorthCrest Asset Manangement LLC grew 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 worth $195,000 after acquiring an additional 856 shares during the period. Institutional investors own 80.72% of the company's stock.

Insider Activity at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 13,700 shares of the business's 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 $5,335,109.41. The trade was a 3.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.89% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

HBAN has been the subject of several research analyst reports. Cowen initiated coverage on Huntington Bancshares in a report on Wednesday, May 14th. They issued a "buy" rating for the company. Wolfe Research raised Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price objective for the company in a report on Thursday, July 3rd. DA Davidson lifted their target price on Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Truist Financial lifted their target price on Huntington Bancshares from $18.00 to $19.00 and gave the company a "buy" rating in a research report on Friday, June 13th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $21.00 target price (up from $18.00) on shares of Huntington Bancshares in a research report on Tuesday, July 8th. Two research 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 stock. According to MarketBeat, Huntington Bancshares currently has a consensus rating of "Moderate Buy" and an average price target of $18.68.

Huntington Bancshares Stock Performance

NASDAQ HBAN traded up $0.70 on Friday, hitting $17.36. 30,878,382 shares of the company traded hands, compared to its average volume of 28,155,882. The business's 50 day moving average price is $16.63 and its 200-day moving average price is $15.67. Huntington Bancshares Incorporated has a 52-week low of $11.91 and a 52-week high of $18.44. The company has a market capitalization of $25.32 billion, a price-to-earnings ratio of 12.86, a P/E/G ratio of 0.89 and a beta of 0.93. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.92.

Huntington Bancshares Dividend Announcement

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 given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Wednesday, September 17th. Huntington Bancshares's payout ratio is presently 45.93%.

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.