Huntington Bancshares Incorporated $HBAN Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC lowered its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 15.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,711 shares of the bank’s stock after selling 11,495 shares during the period. Pallas Capital Advisors LLC’s holdings in Huntington Bancshares were worth $1,068,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Huntington Bancshares by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 173,956,974 shares of the bank’s stock worth $2,611,094,000 after purchasing an additional 978,565 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Huntington Bancshares by 8.7% during the first quarter. Invesco Ltd. now owns 57,186,593 shares of the bank’s stock valued at $858,371,000 after buying an additional 4,586,607 shares during the period. Victory Capital Management Inc. boosted its position in Huntington Bancshares by 9.2% during the first quarter. Victory Capital Management Inc. now owns 23,828,775 shares of the bank’s stock worth $357,670,000 after acquiring an additional 2,003,683 shares during the last quarter. Amundi grew its stake in Huntington Bancshares by 26.2% in the 1st quarter. Amundi now owns 22,011,639 shares of the bank’s stock worth $330,395,000 after acquiring an additional 4,576,432 shares during the period. Finally, Federated Hermes Inc. raised its holdings in Huntington Bancshares by 2.5% in the 1st quarter. Federated Hermes Inc. now owns 20,103,485 shares of the bank’s stock valued at $301,753,000 after acquiring an additional 498,182 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Citigroup lifted their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Wall Street Zen cut Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Sunday, July 13th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $21.00 price objective (up previously from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. Jefferies Financial Group raised their target price on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Finally, Truist Financial boosted their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, September 12th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares presently has an average rating of “Moderate Buy” and an average price target of $18.79.

Insider Activity

In related news, EVP Marcy C. Hingst sold 41,100 shares of the company’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 sale, the executive vice president directly owned 299,361 shares of the company’s stock, valued at $5,388,498. This represents a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.89% of the company’s stock.

Huntington Bancshares Trading Up 1.9%

NASDAQ:HBAN opened at $17.87 on Friday. The stock has a market cap of $26.07 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97. Huntington Bancshares Incorporated has a one year low of $11.91 and a one year high of $18.44. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.89. The business’s 50-day simple moving average is $17.01 and its 200 day simple moving average is $15.83.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 17th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. 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.