Cardinal Capital Management Raises Stake in Huntington Bancshares Incorporated $HBAN

Cardinal Capital Management raised its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 185,804 shares of the bank’s stock after acquiring an additional 2,200 shares during the period. Cardinal Capital Management’s holdings in Huntington Bancshares were worth $3,143,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in HBAN. Teacher Retirement System of Texas boosted its stake in shares of Huntington Bancshares by 1,462.4% in the first quarter. Teacher Retirement System of Texas now owns 212,390 shares of the bank’s stock valued at $3,188,000 after buying an additional 198,796 shares in the last quarter. Trinity Financial Advisors LLC boosted its stake in shares of Huntington Bancshares by 1,497.1% in the second quarter. Trinity Financial Advisors LLC now owns 286,896 shares of the bank’s stock valued at $4,853,000 after buying an additional 268,933 shares in the last quarter. Czech National Bank boosted its stake in shares of Huntington Bancshares by 6.6% in the second quarter. Czech National Bank now owns 356,096 shares of the bank’s stock valued at $5,968,000 after buying an additional 22,190 shares in the last quarter. QRG Capital Management Inc. boosted its position in shares of Huntington Bancshares by 11.9% during the 1st quarter. QRG Capital Management Inc. now owns 25,827 shares of the bank’s stock worth $388,000 after purchasing an additional 2,751 shares in the last quarter. Finally, Brown Advisory Inc. boosted its position in shares of Huntington Bancshares by 13.5% during the 1st quarter. Brown Advisory Inc. now owns 36,467 shares of the bank’s stock worth $547,000 after purchasing an additional 4,347 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Truist Financial boosted their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Wall Street Zen downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Sunday, July 13th. Wolfe Research raised shares of Huntington Bancshares from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Thursday, July 3rd. DA Davidson boosted their price target on Huntington Bancshares from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Finally, Citigroup boosted their price target on Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.84.

Insider Buying and Selling at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 41,100 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $18.00, for a total transaction of $739,800.00. Following the transaction, the executive vice president directly owned 299,361 shares in the company, valued at $5,388,498. This represents a 12.07% 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 insiders.

Huntington Bancshares Trading Down 2.2%

Shares of Huntington Bancshares stock opened at $17.33 on Tuesday. The business’s fifty day moving average is $17.02 and its two-hundred day moving average is $15.87. Huntington Bancshares Incorporated has a fifty-two week low of $11.91 and a fifty-two week high of $18.44. The firm has a market cap of $25.28 billion, a PE ratio of 12.84, a P/E/G ratio of 0.86 and a beta of 0.96. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th will be given a dividend of $0.155 per share. The ex-dividend date is Wednesday, September 17th. This represents a $0.62 annualized dividend and a yield of 3.6%. Huntington Bancshares’s dividend payout ratio is 45.93%.

About Huntington Bancshares

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.