Cambridge Investment Research Advisors Inc. lifted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 387,462 shares of the bank's stock after purchasing an additional 9,418 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Huntington Bancshares were worth $4,661,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. AIA Group Ltd lifted its position in shares of Huntington Bancshares by 130.3% in the first quarter. AIA Group Ltd now owns 3,457 shares of the bank's stock worth $51,000 after purchasing an additional 1,956 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Huntington Bancshares by 33.6% in the first quarter. ProShare Advisors LLC now owns 564,492 shares of the bank's stock worth $8,253,000 after purchasing an additional 142,053 shares in the last quarter. Foundations Investment Advisors LLC lifted its position in shares of Huntington Bancshares by 14.9% in the second quarter. Foundations Investment Advisors LLC now owns 18,364 shares of the bank's stock worth $223,000 after purchasing an additional 2,384 shares in the last quarter. PFG Advisors bought a new stake in shares of Huntington Bancshares in the first quarter worth $194,000. Finally, Ninety One SA PTY Ltd acquired a new position in Huntington Bancshares during the first quarter worth $80,000. Institutional investors own 79.77% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HBAN. Wedbush downgraded shares of Huntington Bancshares from an "outperform" rating to a "neutral" rating and set a $14.00 target price on the stock. in a report on Thursday, June 30th. Jefferies Financial Group lowered their target price on shares of Huntington Bancshares from $14.50 to $13.00 in a report on Monday, July 11th. The Goldman Sachs Group lowered their target price on shares of Huntington Bancshares from $17.50 to $14.50 and set a "buy" rating on the stock in a report on Tuesday, May 31st. Piper Sandler downgraded shares of Huntington Bancshares from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $14.00 to $13.50 in a report on Friday, July 8th. Finally, JPMorgan Chase & Co. downgraded shares of Huntington Bancshares from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $17.50 to $14.50 in a report on Friday, July 1st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $15.13.

Huntington Bancshares Trading Down 1.6 %

Huntington Bancshares (NASDAQ:HBAN – Get Rating) last released its quarterly earnings results on Thursday, July 21st. The bank reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. Huntington Bancshares had a net margin of 25.58% and a return on equity of 13.11%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the company posted $0.35 earnings per share. As a group, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.46 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 19th will be given a dividend of $0.155 per share. The ex-dividend date is Friday, September 16th. This represents a $0.62 annualized dividend and a yield of 4.70%. Huntington Bancshares's dividend payout ratio is 55.36%.

Insider Buying and Selling

In other news, Director Gary Torgow acquired 19,382 shares of the business's stock in a transaction that occurred on Wednesday, July 27th. The stock was acquired at an average price of $12.90 per share, with a total value of $250,027.80. Following the completion of the transaction, the director now directly owns 893,301 shares of the company's stock, valued at approximately $11,523,582.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Gary Torgow acquired 19,382 shares of the business's stock in a transaction that occurred on Wednesday, July 27th. The stock was acquired at an average price of $12.90 per share, with a total value of $250,027.80. Following the completion of the transaction, the director now directly owns 893,301 shares of the company's stock, valued at approximately $11,523,582.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Zachary Jacob Wasserman sold 11,618 shares of the stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $14.36, for a total transaction of $166,834.48. Following the completion of the transaction, the chief financial officer now directly owns 230,394 shares of the company's stock, valued at approximately $3,308,457.84. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

Huntington Bancshares Company Profile

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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 operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).

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