Robeco Institutional Asset Management B.V. Raises Stock Position in Huntington Bancshares Incorporated $HBAN

Key Points

• Robeco Institutional Asset Management B.V. increased its holdings in Huntington Bancshares by 615.5%, owning approximately 1,728,104 shares worth $28,963,000 after significant purchases in the second quarter.
• Analysts have positive forecasts for Huntington Bancshares, with multiple firms raising their price objectives and maintaining buy ratings, leading to an average target price of $19.24.
• The company recently declared a quarterly dividend of $0.155 per share, resulting in an annualized yield of 3.6%.

Robeco Institutional Asset Management B.V. increased its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 615.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,728,104 shares of the bank's stock after purchasing an additional 1,486,589 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.12% of Huntington Bancshares worth $28,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Family Legacy Financial Solutions LLC purchased a new position in shares of Huntington Bancshares during the second quarter worth $25,000. Smallwood Wealth Investment Management LLC purchased a new position in shares of Huntington Bancshares during the first quarter worth $29,000. Quarry LP raised its holdings in shares of Huntington Bancshares by 73.0% during the first quarter. Quarry LP now owns 1,929 shares of the bank's stock worth $29,000 after purchasing an additional 814 shares during the last quarter. LFA Lugano Financial Advisors SA purchased a new position in Huntington Bancshares in the first quarter valued at $31,000. Finally, Golden State Wealth Management LLC increased its holdings in Huntington Bancshares by 516.3% in the first quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock valued at $33,000 after buying an additional 1,869 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company's stock.

Wall Street Analysts Forecast Growth

HBAN has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a "buy" rating in a report on Tuesday. Jefferies Financial Group lifted their price objective on shares of Huntington Bancshares from $21.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Wolfe Research raised shares of 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. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $21.00 price objective (up previously from $18.00) on shares of Huntington Bancshares in a report on Tuesday, July 8th. Finally, Morgan Stanley lifted their price objective on shares of Huntington Bancshares from $19.00 to $23.00 and gave the company an "overweight" rating in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $19.24.

Insiders Place Their Bets

In related news, EVP Marcy C. Hingst sold 41,100 shares of the business's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $18.00, for a total transaction of $739,800.00. Following 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.89% of the company's stock.

Huntington Bancshares Stock Up 1.0%

HBAN stock opened at $17.21 on Friday. The stock has a market capitalization of $25.11 billion, a P/E ratio of 12.75, a P/E/G ratio of 0.82 and a beta of 0.96. The firm has a 50-day simple moving average of $17.12 and a 200-day simple moving average of $16.02. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. Huntington Bancshares Incorporated has a 52 week low of $11.91 and a 52 week high of $18.44.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th were given a dividend of $0.155 per share. The ex-dividend date was 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 presently 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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