USS Investment Management Ltd Sells 121,000 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• USS Investment Management Ltd reduced its stake in Huntington Bancshares by 33.5%, holding 240,226 shares valued at approximately $3.61 million after selling 121,000 shares.
• Multiple analysts have raised their price targets for Huntington Bancshares, with Wolfe Research setting a target of $21.00 and an overall consensus price target of $18.74.
• The company announced a quarterly dividend of $0.155 per share, representing an annualized dividend yield of 3.5% and a payout ratio of 45.93%.

USS Investment Management Ltd lessened its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 33.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 240,226 shares of the bank's stock after selling 121,000 shares during the period. USS Investment Management Ltd's holdings in Huntington Bancshares were worth $3,605,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas lifted its holdings in shares of Huntington Bancshares by 1,462.4% during the 1st quarter. Teacher Retirement System of Texas now owns 212,390 shares of the bank's stock worth $3,188,000 after acquiring an additional 198,796 shares during the period. QRG Capital Management Inc. lifted its holdings in shares of Huntington Bancshares by 11.9% during the 1st quarter. QRG Capital Management Inc. now owns 25,827 shares of the bank's stock worth $388,000 after acquiring an additional 2,751 shares during the period. Brown Advisory Inc. lifted its holdings in shares of Huntington Bancshares by 13.5% during the 1st quarter. Brown Advisory Inc. now owns 36,467 shares of the bank's stock worth $547,000 after acquiring an additional 4,347 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in Huntington Bancshares by 4.0% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 111,990 shares of the bank's stock valued at $1,681,000 after purchasing an additional 4,321 shares during the last quarter. Finally, NBC Securities Inc. lifted its stake in Huntington Bancshares by 99,980.0% in the 1st quarter. NBC Securities Inc. now owns 10,008 shares of the bank's stock valued at $150,000 after purchasing an additional 9,998 shares during the last quarter. Institutional investors own 80.72% of the company's stock.

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 shares were 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 in the company, valued at approximately $5,388,498. This trade represents a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.89% of the company's stock.

Wall Street Analyst Weigh In

HBAN has been the subject of several research reports. DA Davidson increased their price objective on shares of Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Wolfe Research raised shares of Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price objective for the company in a research note on Thursday, July 3rd. Truist Financial increased 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 Friday. Citigroup increased 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. Finally, Raymond James Financial restated a "strong-buy" rating and issued a $21.00 price target (up from $18.00) on shares of Huntington Bancshares in a research report on Tuesday, July 8th. Two investment 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 given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.79.

Huntington Bancshares Trading Up 0.2%

Shares of HBAN traded up $0.03 during trading hours on Friday, hitting $17.77. 21,708,807 shares of the stock were exchanged, compared to its average volume of 24,835,348. Huntington Bancshares Incorporated has a fifty-two week low of $11.91 and a fifty-two week high of $18.44. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89. The business has a 50-day moving average of $17.00 and a 200-day moving average of $15.80. The firm has a market capitalization of $25.92 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 0.86 and a beta of 0.97.

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 issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, September 17th. Huntington Bancshares's dividend payout ratio (DPR) 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.