Rockport Wealth LLC Purchases New Shares in Huntington Bancshares Incorporated $HBAN

Key Points

• Rockport Wealth LLC acquired a new stake of 25,210 shares in Huntington Bancshares, valued at approximately $378,000, as disclosed in a recent 13F filing.
• Analysts have given Huntington Bancshares a Moderate Buy rating, with a consensus price target of $18.74, while several firms have raised their target prices for the stock.
• Huntington Bancshares recently announced a quarterly dividend of $0.155 per share, representing an annualized dividend yield of 3.5%.

Rockport Wealth LLC purchased a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 25,210 shares of the bank's stock, valued at approximately $378,000.

Several other hedge funds also recently made changes to their positions in HBAN. AQR Capital Management LLC boosted its position in shares of Huntington Bancshares by 274.9% during the first quarter. AQR Capital Management LLC now owns 10,758,669 shares of the bank's stock valued at $157,292,000 after purchasing an additional 7,889,004 shares in the last quarter. Invesco Ltd. boosted its position in shares of Huntington Bancshares by 8.7% during the first quarter. Invesco Ltd. now owns 57,186,593 shares of the bank's stock valued at $858,371,000 after purchasing an additional 4,586,607 shares in the last quarter. Amundi boosted its position in shares of Huntington Bancshares by 26.2% during the first quarter. Amundi now owns 22,011,639 shares of the bank's stock valued at $330,395,000 after purchasing an additional 4,576,432 shares in the last quarter. Nuveen LLC bought a new stake in Huntington Bancshares in the first quarter worth $50,078,000. Finally, Deutsche Bank AG boosted its holdings in Huntington Bancshares by 47.7% in the first quarter. Deutsche Bank AG now owns 8,870,393 shares of the bank's stock worth $133,145,000 after acquiring an additional 2,865,727 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HBAN has been the topic of several analyst reports. Cowen initiated coverage on Huntington Bancshares in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. Raymond James Financial reissued a "strong-buy" rating and issued a $21.00 target price (up from $18.00) on shares of Huntington Bancshares in a report on Tuesday, July 8th. Wolfe Research raised Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 target price on the stock in a report on Thursday, July 3rd. Citigroup boosted their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Truist Financial boosted their target price on Huntington Bancshares from $18.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $18.74.

Huntington Bancshares Stock Down 1.4%

HBAN stock opened at $17.63 on Friday. Huntington Bancshares Incorporated has a 1-year low of $11.91 and a 1-year high of $18.44. The business has a fifty day moving average price of $16.96 and a 200-day moving average price of $15.74. 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 stock has a market capitalization of $25.72 billion, a P/E ratio of 13.06, a P/E/G ratio of 0.92 and a beta of 0.97.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 17th will be paid a $0.155 dividend. The ex-dividend date is Wednesday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.5%. Huntington Bancshares's payout ratio is currently 45.93%.

Insider Buying and Selling at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 13,700 shares of the business's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $15.79, for a total value of $216,323.00. Following the completion of the transaction, the executive vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.89% of the stock is owned by corporate insiders.

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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