LGT Group Foundation Raises Share Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

VaselineSeptember 11, 2024

0 5 minutes read

LGT Group Foundation increased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report ) by 89.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,120 shares of the bank’s stock after buying an additional 10,420 shares during the quarter. LGT Group Foundation’s holdings in Huntington Bancshares were worth $292,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Boston Partners boosted its holdings in shares of Huntington Bancshares by 20.4% in the first quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock valued at $783,215,000 after purchasing an additional 9,533,511 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Huntington Bancshares by 0.4% during the second quarter. Victory Capital Management Inc. now owns 17,954,498 shares of the bank’s stock valued at $236,640,000 after purchasing an additional 65,355 shares in the last quarter. Norges Bank acquired a new stake in Huntington Bancshares in the 4th quarter valued at $206,703,000. Dimensional Fund Advisors LP grew its stake in Huntington Bancshares by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 15,130,774 shares of the bank’s stock valued at $192,473,000 after acquiring an additional 765,070 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Huntington Bancshares by 39.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock valued at $83,124,000 after acquiring an additional 1,838,019 shares during the period. 80.72% of the shares are held by hedge funds and other institutional investors.

Huntington Bancshares stock fell 2.5%

NASDAQ HBAN opened at $14.29 on Wednesday. Huntington Bancshares Incorporated has a 52-week low of $9.25 and a 52-week high of $15.24. The company has a quick ratio of 0.88, a current ratio of 0.89, and a debt-to-equity ratio of 0.96. The company’s fifty-day simple moving average is $14.13, and its 200-day simple moving average is $13.66. The firm has a market cap of $20.71 billion, a PE ratio of 12.87, a P/E/G ratio of 2.91 and a beta of 1.05.

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Huntington Bancshares (NASDAQ:HBAN – Get Your Free Report ) last posted its quarterly earnings results on Friday, July 19th. The bank reported $0.30 EPS for the quarter, topping the consensus estimate of $0.28 by $0.02. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $1.81 billion. In the same quarter last year, the firm earned $0.35 EPS. As a group, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.19 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents an annualized dividend of $0.62 and a yield of 4.34%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 55.86%.

Changes in Analyst Ratings

A number of equities research analysts recently issued reports on the stock. Baird RW cut shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Royal Bank of Canada raised their target price on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Robert W. Baird cut shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 target price on the stock. in a research note on Friday, July 26th. UBS Group decreased their price target on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, June 13th. Finally, Jefferies Financial Group dropped their price target on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, 3 July. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Huntington Bancshares presently has an average rating of “Moderate Buy” and an average price target of $15.59, according to MarketBeat.com .

Get the latest stock report on HBAN

Insider trading at Huntington Bancshares

In related news, insider Kendall A. Kowalski sold 5,747 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total value of $86,090.06. Following the sale, the insider now directly owns 65,899 shares in the company, valued at approximately $987,167.02. The sale was disclosed in a legal filing with the SEC, which can be accessed via this link. In related news, insider Kendall A. Kowalski sold 5,747 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total value of $86,090.06. Following the sale, the insider now directly owns 65,899 shares in the company, valued at approximately $987,167.02. The sale was disclosed in a legal filing with the SEC, which can be accessed via this link. Also, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total transaction of $871,685.55. Following the completion of the sale, the vice president now owns 69,595 shares in the company, valued at $1,054,364.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,622 shares of company stock worth $1,762,904. Company insiders own 0.89% of the company’s shares.

Huntington Bancshares Company Profile

(Free Report)

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank, which provides commercial, consumer and mortgage banking services in the United States. The Company provides financial products and services to consumer and business customers, including deposits, loans, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance and other financial products and services.