Wellington Management Group LLP Purchases 89,322 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• Wellington Management Group LLP increased its holdings in Huntington Bancshares by 10.9% during the first quarter, owning 909,641 shares valued at approximately $13.65 million.
• Insider transactions were noted, including EVP Marcy C. Hingst selling 13,700 shares for $216,323, reducing her ownership by 3.90%.
• Huntington Bancshares has received multiple buy ratings from analysts, with a consensus rating of "Moderate Buy" and an average price target of $18.68.

Wellington Management Group LLP lifted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 10.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 909,641 shares of the bank's stock after purchasing an additional 89,322 shares during the period. Wellington Management Group LLP owned about 0.06% of Huntington Bancshares worth $13,654,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smallwood Wealth Investment Management LLC bought a new position in shares of Huntington Bancshares during the 1st quarter valued at $29,000. LFA Lugano Financial Advisors SA bought a new stake in Huntington Bancshares during the 1st quarter valued at $31,000. Golden State Wealth Management LLC raised its holdings in Huntington Bancshares by 516.3% during the 1st quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock valued at $33,000 after buying an additional 1,869 shares during the last quarter. Wayfinding Financial LLC bought a new stake in Huntington Bancshares during the 1st quarter valued at $39,000. Finally, TruNorth Capital Management LLC bought a new stake in Huntington Bancshares during the 1st quarter valued at $40,000. Institutional investors own 80.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on HBAN shares. Wolfe Research upgraded shares of Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price target for the company in a report on Thursday, July 3rd. Citigroup upped their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Jefferies Financial Group started coverage on shares of Huntington Bancshares in a report on Wednesday, May 21st. They set a "buy" rating and a $20.00 price target for the company. Cowen assumed coverage on shares of Huntington Bancshares in a report on Wednesday, May 14th. They set a "buy" rating for the company. Finally, TD Cowen assumed coverage on shares of Huntington Bancshares in a report on Thursday, May 15th. They issued a "buy" rating and a $20.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $18.68.

Insider Activity at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 13,700 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $15.79, for a total transaction of $216,323.00. Following the sale, the executive vice president owned 337,879 shares in the company, valued at approximately $5,335,109.41. The trade was a 3.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.89% of the company's stock.

Huntington Bancshares Trading Up 0.1%

NASDAQ:HBAN traded up $0.01 during trading hours on Monday, hitting $17.81. The company had a trading volume of 22,951,162 shares, compared to its average volume of 24,577,678. The company has a market capitalization of $25.98 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 0.91 and a beta of 0.96. The stock has a 50-day moving average price of $16.86 and a 200 day moving average price of $15.70. Huntington Bancshares Incorporated has a 52 week low of $11.91 and a 52 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.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 17th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, September 17th. Huntington Bancshares's payout ratio is 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.