56,525 Shares in Huntington Bancshares Incorporated (NASDAQ:HBAN) Purchased by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG acquired a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 56,525 shares of the bank’s stock, valued at approximately $848,000.

Other large investors also recently modified their holdings of the company. Foundations Investment Advisors LLC boosted its stake in Huntington Bancshares by 2.4% in the 1st quarter. Foundations Investment Advisors LLC now owns 29,023 shares of the bank’s stock valued at $436,000 after buying an additional 691 shares in the last quarter. Winch Advisory Services LLC boosted its stake in shares of Huntington Bancshares by 18.3% in the 1st quarter. Winch Advisory Services LLC now owns 4,579 shares of the bank’s stock valued at $69,000 after purchasing an additional 709 shares in the last quarter. CreativeOne Wealth LLC grew its holdings in shares of Huntington Bancshares by 4.0% in the 4th quarter. CreativeOne Wealth LLC now owns 20,019 shares of the bank’s stock worth $326,000 after purchasing an additional 762 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of Huntington Bancshares by 5.5% during the 1st quarter. First Horizon Advisors Inc. now owns 16,073 shares of the bank’s stock worth $241,000 after purchasing an additional 844 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Huntington Bancshares by 4.0% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 21,835 shares of the bank’s stock worth $328,000 after purchasing an additional 847 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors.

Insider Activity at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 13,700 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $15.79, for a total value of $216,323.00. Following the sale, the executive vice president directly owned 337,879 shares in the company, valued at $5,335,109.41. This trade represents a 3.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.89% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

HBAN has been the topic of several research analyst reports. Truist Financial upped their price objective on shares of Huntington Bancshares from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, June 13th. Wall Street Zen lowered Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Sunday, July 13th. Citigroup raised their price target on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Royal Bank Of Canada decreased their target price on Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Monday, April 21st. Finally, Cowen began coverage on Huntington Bancshares in a research note on Wednesday, May 14th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.68.

Huntington Bancshares Stock Up 1.4%

NASDAQ:HBAN opened at $16.27 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. Huntington Bancshares Incorporated has a 12-month low of $11.91 and a 12-month high of $18.44. The stock’s fifty day simple moving average is $16.45 and its 200-day simple moving average is $15.72. The firm has a market capitalization of $23.73 billion, a P/E ratio of 12.05, a P/E/G ratio of 0.82 and a beta of 0.93.

Huntington Bancshares declared that its Board of Directors has authorized a share repurchase program on Thursday, April 17th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the bank to repurchase up to 5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Huntington Bancshares Announces Dividend

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 paid a $0.155 dividend. 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 3.8%. Huntington Bancshares’s dividend payout ratio is 45.93%.

Huntington Bancshares 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.