113,268 Shares in Huntington Bancshares Incorporated (NASDAQ:HBAN) Bought by Maryland State Retirement & Pension System

Posted by on Mar 28th, 2023

Maryland State Retirement & Pension System purchased a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 113,268 shares of the bank’s stock, valued at approximately $1,597,000.

Several other institutional investors and hedge funds have also made changes to their positions in HBAN. CI Investments Inc. lifted its position in shares of Huntington Bancshares by 994.3% during the third quarter. CI Investments Inc. now owns 1,904 shares of the bank’s stock worth $25,000 after purchasing an additional 1,730 shares during the last quarter. Allworth Financial LP lifted its position in shares of Huntington Bancshares by 91.9% during the third quarter. Allworth Financial LP now owns 1,998 shares of the bank’s stock worth $26,000 after purchasing an additional 957 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Huntington Bancshares by 149.8% during the third quarter. EverSource Wealth Advisors LLC now owns 2,573 shares of the bank’s stock worth $34,000 after purchasing an additional 1,543 shares during the last quarter. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Huntington Bancshares during the second quarter worth $36,000. Finally, Horan Securities Inc. lifted its position in shares of Huntington Bancshares by 111.3% during the third quarter. Horan Securities Inc. now owns 3,087 shares of the bank’s stock worth $41,000 after purchasing an additional 1,626 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Transactions at Huntington Bancshares

In other news, Director David L. Porteous sold 80,000 shares of the business’s stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $15.01, for a total transaction of $1,200,800.00. Following the sale, the director now owns 62,845 shares in the company, valued at $943,303.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 analyst reports. Morgan Stanley decreased their target price on Huntington Bancshares from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, January 23rd. Wolfe Research raised their price target on Huntington Bancshares from $13.00 to $14.00 in a research note on Thursday, December 1st. JPMorgan Chase & Co. lowered Huntington Bancshares from a “neutral” rating to an “underweight” rating and cut their price target for the company from $15.50 to $14.50 in a research note on Tuesday, December 13th. DA Davidson started coverage on Huntington Bancshares in a research note on Tuesday, December 20th. They set a “neutral” rating and a $15.00 price target on the stock. They noted that the move was a valuation call. Finally, Piper Sandler cut their price target on Huntington Bancshares from $15.00 to $14.50 in a research note on Friday, March 10th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Huntington Bancshares has an average rating of “Hold” and an average price target of $15.47.

Huntington Bancshares Price Performance

HBAN opened at $11.12 on Tuesday. The business’s 50-day moving average is $14.07 and its two-hundred day moving average is $14.23. Huntington Bancshares Incorporated has a 1 year low of $9.94 and a 1 year high of $15.74. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $16.11 billion, a PE ratio of 7.67, a price-to-earnings-growth ratio of 5.41 and a beta of 1.11.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Monday, March 20th will be paid a dividend of $0.155 per share. The ex-dividend date is Friday, March 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 5.58%. Huntington Bancshares’s payout ratio is 42.76%.

About Huntington Bancshares

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Huntington Bancshares, Inc operates as a bank holding company. It provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, other financial products and services.

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Institutional Ownership by Quarter for Huntington Bancshares (NASDAQ:HBAN)

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