VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 451,800 Huntington Bancshares Incorporated $HBAN

Key Points

• Virginia Retirement Systems ET Al purchased 451,800 shares of Huntington Bancshares for about $7,572,000 in the 2nd quarter, reflecting strong institutional interest.
• Huntington Bancshares announced a quarterly dividend of $0.155, indicating a 3.9% annual yield, with the ex-dividend date set for December 18th.
• Analysts have raised their price targets for the bank's stock, with a consensus rating of "Moderate Buy" and a target price around $19.76, signaling positive sentiment among investors.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 451,800 shares of the bank's stock, valued at approximately $7,572,000.

Several other large investors have also recently bought and sold shares of HBAN. Accurate Wealth Management LLC grew its stake in shares of Huntington Bancshares by 3.5% in the 2nd quarter. Accurate Wealth Management LLC now owns 18,159 shares of the bank's stock worth $319,000 after purchasing an additional 611 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position 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 acquiring an additional 668 shares in the last quarter. Foundations Investment Advisors LLC boosted its holdings in shares of Huntington Bancshares by 2.4% during 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 period. Winch Advisory Services LLC boosted its holdings in shares of Huntington Bancshares by 18.3% during 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 period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Huntington Bancshares by 2.6% during the second quarter. Farther Finance Advisors LLC now owns 29,032 shares of the bank's stock worth $487,000 after purchasing an additional 731 shares during the period. Institutional investors and hedge funds own 80.72% of the company's stock.

Insider Activity at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 41,100 shares of Huntington Bancshares 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 transaction, the executive vice president owned 299,361 shares of the company's stock, valued at $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. 0.89% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Tuesday, September 30th. Raymond James Financial restated a "strong-buy" rating and set a $20.00 price target (down from $21.00) on shares of Huntington Bancshares in a report on Monday. DA Davidson raised their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Monday. Truist Financial raised their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Finally, TD Cowen raised their price target on shares of Huntington Bancshares from $21.00 to $22.00 and gave the stock a "buy" rating in a report on Monday. Two equities research 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.76.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $15.84 on Tuesday. Huntington Bancshares Incorporated has a 12-month low of $11.91 and a 12-month high of $18.44. The stock has a market capitalization of $23.11 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 0.73 and a beta of 0.96. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.89. The company has a 50 day moving average price of $17.08 and a two-hundred day moving average price of $16.14.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings results on Wednesday, June 11th. The bank reported $0.28 EPS for the quarter. Huntington Bancshares had a net margin of 18.06% and a return on equity of 12.14%. The company had revenue of $469.00 million for the quarter. As a group, equities analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 18th will be given a $0.155 dividend. The ex-dividend date of this dividend is Thursday, December 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.9%. Huntington Bancshares's dividend payout ratio (DPR) is currently 43.36%.

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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