Russell Investments Group Ltd. Grows Position in Huntington Bancshares Incorporated $HBAN

Key Points

• Russell Investments Group Ltd. has increased its stake in Huntington Bancshares by 5.1%, owning a total of 1,374,616 shares valued at approximately $20.6 million.
• The company has announced a quarterly dividend of $0.155 per share, reflecting an annualized yield of 3.7%.
• Analysts maintain a consensus rating of “Moderate Buy” for Huntington Bancshares, with an average price target of $18.68.

Russell Investments Group Ltd. lifted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 5.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,374,616 shares of the bank's stock after buying an additional 66,211 shares during the quarter. Russell Investments Group Ltd. owned about 0.09% of Huntington Bancshares worth $20,607,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Smallwood Wealth Investment Management LLC acquired a new position in Huntington Bancshares during the first quarter valued at approximately $29,000. LFA Lugano Financial Advisors SA bought a new position in Huntington Bancshares during the first quarter worth $31,000. Golden State Wealth Management LLC grew 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 acquiring an additional 1,869 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Huntington Bancshares in the 1st quarter worth about $39,000. Finally, TruNorth Capital Management LLC bought a new position in Huntington Bancshares during the 1st quarter valued at $40,000. 80.72% of the stock is owned by institutional investors.

Huntington Bancshares Stock Up 1.1%

Shares of HBAN traded up $0.18 during mid-day trading on Wednesday, hitting $16.80. 28,477,802 shares of the company traded hands, compared to its average volume of 25,637,512. The business has a 50 day moving average of $16.56 and a 200 day moving average of $15.67. Huntington Bancshares Incorporated has a 1-year low of $11.91 and a 1-year high of $18.44. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $24.51 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 0.85 and a beta of 0.93.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 17th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, September 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.7%. Huntington Bancshares's dividend payout ratio (DPR) is presently 45.93%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Citigroup boosted 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. Raymond James Financial reaffirmed a "strong-buy" rating and set a $21.00 price objective (up from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. TD Cowen began coverage on Huntington Bancshares in a report on Thursday, May 15th. They set a "buy" rating and a $20.00 target price for the company. Deutsche Bank Aktiengesellschaft raised shares of Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 target price on the stock in a research report on Thursday, April 24th. Finally, DA Davidson lifted their target price 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. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $18.68.

Insider Buying and Selling at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 13,700 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $15.79, for a total value of $216,323.00. Following the completion of the sale, the executive vice president owned 337,879 shares of the company's stock, valued at approximately $5,335,109.41. This represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.89% of the stock is currently owned by corporate insiders.

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.