Huntington Bancshares Incorporated $HBAN Position Boosted by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its ownership in Huntington Bancshares by 14.1%, acquiring an additional 563,842 shares and now holding a total of 4,549,504 shares valued at approximately $68.29 million.
• Huntington Bancshares announced a quarterly dividend of $0.155 per share, with a payout yield of 3.5% and a payout ratio of 45.93%.
• Recent analyst reports show a mixed outlook for Huntington Bancshares, with revised price targets ranging from $19.00 to $21.00 and a consensus rating of "Moderate Buy".

Royal Bank of Canada boosted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 14.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,549,504 shares of the bank's stock after acquiring an additional 563,842 shares during the period. Royal Bank of Canada owned about 0.31% of Huntington Bancshares worth $68,289,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in HBAN. Smallwood Wealth Investment Management LLC bought a new stake in shares of Huntington Bancshares in the 1st quarter worth approximately $29,000. Quarry LP increased its position in Huntington Bancshares by 73.0% in the first quarter. Quarry LP now owns 1,929 shares of the bank's stock worth $29,000 after buying an additional 814 shares during the period. LFA Lugano Financial Advisors SA acquired a new stake in Huntington Bancshares in the first quarter worth $31,000. Golden State Wealth Management LLC lifted its stake 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 during the last quarter. Finally, Wayfinding Financial LLC acquired a new position in shares of Huntington Bancshares during the first quarter valued at $39,000. 80.72% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Marcy C. Hingst sold 41,100 shares of Huntington Bancshares stock in a transaction on Friday, September 5th. The stock was 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. This trade represents a 12.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. DA Davidson increased their price objective on shares of Huntington Bancshares from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Raymond James Financial restated a "strong-buy" rating and issued a $21.00 price target (up previously from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. Wall Street Zen cut Huntington Bancshares from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. TD Cowen initiated coverage on Huntington Bancshares in a report on Thursday, May 15th. They issued a "buy" rating and a $20.00 price objective for the company. Finally, Citigroup raised their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.74.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN traded up $0.02 during trading on Wednesday, reaching $17.66. The company had a trading volume of 27,277,512 shares, compared to its average volume of 24,314,594. The firm's fifty day moving average is $16.99 and its 200 day moving average is $15.77. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $25.76 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97. Huntington Bancshares Incorporated has a twelve month low of $11.91 and a twelve month high of $18.44.

Huntington Bancshares Announces Dividend

The company also recently declared 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. This represents a $0.62 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 17th. Huntington Bancshares's dividend payout ratio (DPR) is presently 45.93%.

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.