Shell Asset Management Co. Grows Stock Position in Huntington Bancshares Incorporated $HBAN

Shell Asset Management Co. grew its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 58.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 200,595 shares of the bank's stock after acquiring an additional 74,220 shares during the quarter. Shell Asset Management Co.'s holdings in Huntington Bancshares were worth $3,362,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Kingswood Wealth Advisors LLC lifted its position in Huntington Bancshares by 14.6% during the second quarter. Kingswood Wealth Advisors LLC now owns 23,652 shares of the bank's stock worth $396,000 after buying an additional 3,019 shares in the last quarter. KLP Kapitalforvaltning AS lifted its position in Huntington Bancshares by 4.6% during the second quarter. KLP Kapitalforvaltning AS now owns 512,500 shares of the bank's stock worth $8,657,000 after buying an additional 22,600 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV lifted its position in Huntington Bancshares by 43.8% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 34,500 shares of the bank's stock worth $578,000 after buying an additional 10,500 shares in the last quarter. DAVENPORT & Co LLC lifted its position in Huntington Bancshares by 2.7% during the second quarter. DAVENPORT & Co LLC now owns 213,397 shares of the bank's stock worth $3,577,000 after buying an additional 5,513 shares in the last quarter. Finally, Hill Island Financial LLC lifted its position in Huntington Bancshares by 7.0% during the second quarter. Hill Island Financial LLC now owns 26,491 shares of the bank's stock worth $444,000 after buying an additional 1,726 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company's stock.

Insider Buying and Selling at Huntington Bancshares

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 value of $739,800.00. Following the completion of the sale, the executive vice president directly owned 299,361 shares of the company's stock, valued at approximately $5,388,498. The trade was a 12.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.89% of the company's stock.

Huntington Bancshares Trading Up 0.3%

Shares of NASDAQ HBAN opened at $16.76 on Wednesday. Huntington Bancshares Incorporated has a twelve month low of $11.91 and a twelve month high of $18.44. 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 stock has a fifty day simple moving average of $17.12 and a 200-day simple moving average of $16.05. The stock has a market capitalization of $24.45 billion, a PE ratio of 12.41, a PEG ratio of 0.81 and a beta of 0.96.

Huntington Bancshares Dividend Announcement

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

Wall Street Analysts Forecast Growth

HBAN has been the topic of a number of analyst reports. Truist Financial lifted their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. DA Davidson lifted their price objective on Huntington Bancshares from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Wall Street Zen cut Huntington Bancshares from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. Jefferies Financial Group raised their target price on Huntington Bancshares from $21.00 to $22.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Finally, Wolfe Research raised Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 target price for the company in a research note on Thursday, July 3rd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $19.24.

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.

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