State of New Jersey Common Pension Fund D Has $5.69 Million Stock Holdings in Huntington Bancshares Incorporated $HBAN

Key Points

• The State of New Jersey Common Pension Fund D has decreased its holdings in Huntington Bancshares (NASDAQ: HBAN) by 13.0%, now owning $5.69 million worth of the stock after selling 56,669 shares in the first quarter.
• Several large investors are increasing their stakes in Huntington Bancshares, with BI Asset Management boosting its holdings by 59.1% during the fourth quarter.
• The company announced a quarterly dividend of $0.155 per share, resulting in a 3.7% yield, with the payment scheduled for October 1st to shareholders of record on September 17th.

State of New Jersey Common Pension Fund D reduced its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 13.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 378,861 shares of the bank's stock after selling 56,669 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Huntington Bancshares were worth $5,687,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Huntington Bancshares during the 1st quarter valued at $29,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of Huntington Bancshares during the 1st quarter valued at $31,000. Golden State Wealth Management LLC lifted its position in shares of Huntington Bancshares by 516.3% during the 1st 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 last quarter. Wayfinding Financial LLC acquired a new stake in shares of Huntington Bancshares during the 1st quarter valued at $39,000. Finally, TruNorth Capital Management LLC acquired a new stake in shares of Huntington Bancshares during the 1st quarter valued at $40,000. 80.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HBAN has been the subject of a number of research analyst reports. Truist Financial increased their target price on Huntington Bancshares from $18.00 to $19.00 and gave the company a "buy" rating in a report on Friday, June 13th. Raymond James Financial restated a "strong-buy" rating and issued a $21.00 target price (up previously from $18.00) on shares of Huntington Bancshares in a report on Tuesday, July 8th. Wall Street Zen lowered Huntington Bancshares from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. Argus set a $17.00 target price on Huntington Bancshares in a report on Friday, April 25th. Finally, Citigroup increased their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Two equities research 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 issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $18.68.

Insider Buying and Selling

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 13,700 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $15.79, for a total transaction of $216,323.00. Following the transaction, the executive vice president directly owned 337,879 shares of the company's stock, valued at $5,335,109.41. This represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.89% of the stock is owned by insiders.

Huntington Bancshares Stock Up 4.2%

Huntington Bancshares stock traded up $0.70 during mid-day trading on Friday, hitting $17.36. 30,878,382 shares of the company's stock were exchanged, compared to its average volume of 28,964,992. 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 market cap of $25.32 billion, a P/E ratio of 12.86, a P/E/G ratio of 0.85 and a beta of 0.93. Huntington Bancshares Incorporated has a 1-year low of $11.91 and a 1-year high of $18.44. The stock has a 50 day moving average of $16.63 and a two-hundred day moving average of $15.68.

Huntington Bancshares Announces Dividend

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