Swedbank AB Boosts Holdings in Huntington Bancshares Incorporated $HBAN

Key Points

• Swedbank AB increased its holdings in Huntington Bancshares by 4.0%, acquiring an additional 15,797 shares, bringing its total holdings to 407,147 shares, valued at approximately $6.82 million.
• Wall Street analysts are optimistic about Huntington Bancshares, with two strong buy ratings and an average target price ranging from $19.00 to $21.00, reflecting potential growth in the bank's stock value.
• Huntington Bancshares announced a quarterly dividend of $0.155 per share, set to be paid on October 1st, which offers a yield of 3.5%.

Swedbank AB lifted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 4.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 407,147 shares of the bank's stock after purchasing an additional 15,797 shares during the period. Swedbank AB's holdings in Huntington Bancshares were worth $6,824,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Huntington Bancshares by 0.4% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 164,551 shares of the bank's stock worth $2,758,000 after purchasing an additional 668 shares during the last quarter. Foundations Investment Advisors LLC grew its holdings in shares of Huntington Bancshares by 2.4% in the first quarter. Foundations Investment Advisors LLC now owns 29,023 shares of the bank's stock worth $436,000 after purchasing an additional 691 shares during the last quarter. Winch Advisory Services LLC grew its holdings in shares of Huntington Bancshares by 18.3% in the first quarter. Winch Advisory Services LLC now owns 4,579 shares of the bank's stock worth $69,000 after purchasing an additional 709 shares during the last quarter. Quarry LP grew its holdings in shares of 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 purchasing an additional 814 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of Huntington Bancshares by 5.5% in the first quarter. First Horizon Advisors Inc. now owns 16,073 shares of the bank's stock worth $241,000 after purchasing an additional 844 shares during the last quarter. Institutional investors own 80.72% of the company's stock.

Huntington Bancshares Stock Down 2.2%

Huntington Bancshares stock traded down $0.39 on Monday, hitting $17.33. 21,662,693 shares of the stock traded hands, compared to its average volume of 26,378,456. 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 firm has a market cap of $25.28 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 0.86 and a beta of 0.96. The business's fifty day simple moving average is $17.02 and its 200 day simple moving average is $15.87. Huntington Bancshares Incorporated has a 1 year low of $11.91 and a 1 year high of $18.44.

Huntington Bancshares Dividend Announcement

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 given a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $0.62 annualized dividend and a yield of 3.6%. Huntington Bancshares's dividend payout ratio (DPR) is currently 45.93%.

Analysts Set New Price Targets

HBAN has been the topic of several recent analyst reports. DA Davidson raised 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. Jefferies Financial Group raised their price target on Huntington Bancshares from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Citigroup raised their price target on Huntington Bancshares from $20.00 to $21.00 and gave the stock a "buy" rating in a research note on Friday. Truist Financial raised their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Finally, Wall Street Zen lowered Huntington Bancshares from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.84.

Insider Buying and Selling

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 41,100 shares of the firm's 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.89% of the company's stock.

About Huntington Bancshares

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.