UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Buys 546,406 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• UBS AM increased its stake in Huntington Bancshares by 4.0%, acquiring an additional 546,406 shares, bringing its total ownership to 14,226,006 shares valued at approximately $213.5 million.
• Analysts have shown optimism, with ratings such as "strong-buy" and price targets being raised; the average target price is currently set at $18.74.
• The company declared a quarterly dividend of $0.155 per share, resulting in an annualized yield of 3.5%, with the dividend set to be paid on October 1st.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,226,006 shares of the bank's stock after acquiring an additional 546,406 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.97% of Huntington Bancshares worth $213,532,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC purchased a new position in shares of Huntington Bancshares in the first quarter worth about $29,000. Quarry LP increased its stake 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 in the last quarter. LFA Lugano Financial Advisors SA purchased a new position in shares of Huntington Bancshares in the first quarter worth about $31,000. Golden State Wealth Management LLC increased its stake in shares of Huntington Bancshares by 516.3% in the first quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock worth $33,000 after purchasing an additional 1,869 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new position in shares of Huntington Bancshares in the first quarter worth about $39,000. Institutional investors own 80.72% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on HBAN shares. Raymond James Financial reiterated a "strong-buy" rating and issued a $21.00 target price (up previously from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. Citigroup boosted their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Wall Street Zen cut shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. Truist Financial boosted their price objective on shares of Huntington Bancshares from $18.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Finally, Jefferies Financial Group boosted their price objective on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Huntington Bancshares presently has a consensus rating of "Moderate Buy" and an average price target of $18.74.

Huntington Bancshares Price Performance

HBAN stock opened at $17.74 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89. Huntington Bancshares Incorporated has a one year low of $11.91 and a one year high of $18.44. The stock has a market cap of $25.88 billion, a PE ratio of 13.14, a P/E/G ratio of 0.85 and a beta of 0.97. The firm has a 50 day simple moving average of $17.00 and a two-hundred day simple moving average of $15.78.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 17th. Huntington Bancshares's payout ratio is currently 45.93%.

Insider Buying and Selling

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 41,100 shares of the business's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $18.00, for a total value 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 $5,388,498. The trade was a 12.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.89% of the stock is currently owned by corporate 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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