Aigen Investment Management LP Buys 19,783 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Aigen Investment Management LP raised its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 55.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,406 shares of the bank’s stock after acquiring an additional 19,783 shares during the quarter. Aigen Investment Management LP’s holdings in Huntington Bancshares were worth $832,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of HBAN. Foundations Investment Advisors LLC lifted its position in Huntington Bancshares by 2.4% during the 1st quarter. Foundations Investment Advisors LLC now owns 29,023 shares of the bank’s stock valued at $436,000 after acquiring an additional 691 shares during the period. Winch Advisory Services LLC increased its stake in shares of Huntington Bancshares by 18.3% during the first 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 lifted its holdings in shares of Huntington Bancshares by 4.0% during the fourth quarter. CreativeOne Wealth LLC now owns 20,019 shares of the bank’s stock valued at $326,000 after purchasing an additional 762 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Huntington Bancshares by 5.5% during the first quarter. First Horizon Advisors Inc. now owns 16,073 shares of the bank’s stock valued at $241,000 after purchasing an additional 844 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of Huntington Bancshares by 4.0% in 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 owned by institutional investors.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $16.01 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. The stock has a market capitalization of $23.36 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 0.82 and a beta of 0.93. The firm’s 50 day moving average price is $16.49 and its 200-day moving average price is $15.69. Huntington Bancshares Incorporated has a twelve month low of $11.91 and a twelve month high of $18.44.

Huntington Bancshares Dividend Announcement

The firm 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 dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Wednesday, September 17th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 45.93%.

Huntington Bancshares announced that its board has initiated a stock buyback plan on Thursday, April 17th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the bank to buy up to 5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Royal Bank Of Canada reduced their price objective on Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. Truist Financial lifted their price target on Huntington Bancshares from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, June 13th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $21.00 target price (up from $18.00) on shares of Huntington Bancshares in a report on Tuesday, July 8th. Wolfe Research upgraded shares of Huntington Bancshares from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Thursday, July 3rd. Finally, Argus set a $17.00 price target on shares of Huntington Bancshares in a research report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.68.

Insider Buying and Selling at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 13,700 shares of the business’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $15.79, for a total transaction of $216,323.00. Following the completion of the sale, the executive vice president owned 337,879 shares of the company’s stock, valued at $5,335,109.41. The trade was 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 owned by corporate insiders.

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.