Huntington Bancshares Incorporated $HBAN Shares Purchased by Trexquant Investment LP

Key Points

• Trexquant Investment LP significantly increased its stake in Huntington Bancshares by 165.3% during the first quarter, owning 838,103 shares valued at approximately $12.58 million.
• Several analysts have rated Huntington Bancshares with a consensus of "Moderate Buy" and an average price target of $18.68, indicating positive market sentiment.
• Huntington Bancshares declared a quarterly dividend of $0.155 per share, equating to a dividend yield of 3.5%, to be paid on October 1st.

Trexquant Investment LP boosted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 165.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 838,103 shares of the bank's stock after buying an additional 522,172 shares during the quarter. Trexquant Investment LP owned 0.06% of Huntington Bancshares worth $12,580,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Smallwood Wealth Investment Management LLC purchased a new position in Huntington Bancshares in the first quarter valued at about $29,000. LFA Lugano Financial Advisors SA purchased a new position in shares of Huntington Bancshares during the 1st quarter valued at approximately $31,000. Golden State Wealth Management LLC grew its position in shares of Huntington Bancshares by 516.3% during the first quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock worth $33,000 after buying an additional 1,869 shares in the last quarter. Wayfinding Financial LLC bought a new stake in shares of Huntington Bancshares in the first quarter worth $39,000. Finally, TruNorth Capital Management LLC acquired a new stake in Huntington Bancshares in the first quarter valued at $40,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Price Performance

Huntington Bancshares stock traded down $0.17 during trading hours on Wednesday, hitting $17.52. 8,927,227 shares of the company traded hands, compared to its average volume of 25,484,162. Huntington Bancshares Incorporated has a 1-year low of $11.91 and a 1-year high of $18.44. The firm has a market cap of $25.55 billion, a P/E ratio of 12.97, a P/E/G ratio of 0.91 and a beta of 0.97. The firm's 50-day simple moving average is $16.89 and its two-hundred day simple moving average is $15.72. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.92.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th will be issued 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 3.5%. Huntington Bancshares's payout ratio is presently 45.93%.

Analyst Ratings Changes

Several research analysts have weighed in on HBAN shares. DA Davidson raised their price objective 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. Wolfe Research raised Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price objective for the company in a report on Thursday, July 3rd. Truist Financial increased their target price on Huntington Bancshares from $18.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Raymond James Financial reiterated a "strong-buy" rating and issued a $21.00 price target (up from $18.00) on shares of Huntington Bancshares in a report on Tuesday, July 8th. Finally, Cowen assumed coverage on Huntington Bancshares in a research note on Wednesday, May 14th. They set a "buy" rating on the stock. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Huntington Bancshares presently has a consensus rating of "Moderate Buy" and an average target price of $18.74.

Insiders Place Their Bets

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

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.