San Luis Wealth Advisors LLC Buys Shares of 43,848 Huntington Bancshares Incorporated $HBAN

Key Points

• San Luis Wealth Advisors LLC acquired 43,848 shares of Huntington Bancshares, valued at approximately $735,000, during the 2nd quarter, as noted in their latest SEC filing.
• Analysts have recently increased their price targets for Huntington Bancshares, with Citigroup raising it from $20.00 to $21.00 and Jefferies Financial Group increasing theirs from $21.00 to $22.00, signifying positive sentiment towards the stock.
• The company announced a quarterly dividend of $0.155, representing a 3.6% yield, aimed at enhancing shareholder returns.

San Luis Wealth Advisors LLC purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 43,848 shares of the bank's stock, valued at approximately $735,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Huntington Bancshares by 0.6% during the first quarter. Vanguard Group Inc. now owns 173,956,974 shares of the bank's stock worth $2,611,094,000 after purchasing an additional 978,565 shares in the last quarter. Invesco Ltd. grew its position in shares of Huntington Bancshares by 8.7% in the 1st quarter. Invesco Ltd. now owns 57,186,593 shares of the bank's stock valued at $858,371,000 after acquiring an additional 4,586,607 shares during the period. Victory Capital Management Inc. raised its stake in Huntington Bancshares by 9.2% in the 1st quarter. Victory Capital Management Inc. now owns 23,828,775 shares of the bank's stock worth $357,670,000 after purchasing an additional 2,003,683 shares in the last quarter. Amundi grew its holdings in Huntington Bancshares by 26.2% during the 1st quarter. Amundi now owns 22,011,639 shares of the bank's stock worth $330,395,000 after acquiring an additional 4,576,432 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in Huntington Bancshares by 2.5% during the first quarter. Federated Hermes Inc. now owns 20,103,485 shares of the bank's stock worth $301,753,000 after buying an additional 498,182 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on HBAN shares. Citigroup boosted their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a "buy" rating in a report on Friday, September 19th. Truist Financial boosted their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a report on Friday, September 12th. DA Davidson boosted their price target on Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Raymond James Financial restated a "strong-buy" rating and set a $21.00 target price (up from $18.00) on shares of Huntington Bancshares in a report on Tuesday, July 8th. Finally, Jefferies Financial Group upped their target price on shares of Huntington Bancshares from $21.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday. Two investment 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $18.89.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $17.42 on Friday. Huntington Bancshares Incorporated has a twelve month low of $11.91 and a twelve month high of $18.44. The company has a market cap of $25.41 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 0.84 and a beta of 0.97. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.92. The company's 50 day moving average is $17.07 and its 200 day moving average is $15.94.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.6%. The ex-dividend date is Wednesday, September 17th. Huntington Bancshares's dividend payout ratio is presently 45.93%.

Insider Buying and Selling at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 41,100 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $18.00, for a total value of $739,800.00. Following the sale, the executive vice president owned 299,361 shares of the company's stock, 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 SEC, which is accessible through this hyperlink. 0.89% of the stock is owned by insiders.

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.

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