Mediolanum International Funds Ltd Acquires New Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Mediolanum International Funds Ltd bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 25,922 shares of the bank's stock, valued at approximately $422,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HBAN. Asset Dedication LLC boosted its position in Huntington Bancshares by 200.7% during the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank's stock worth $26,000 after buying an additional 1,202 shares during the period. Future Financial Wealth Managment LLC acquired a new position in shares of Huntington Bancshares during the third quarter worth $31,000. Fortitude Family Office LLC bought a new stake in shares of Huntington Bancshares in the third quarter worth $32,000. Crews Bank & Trust acquired a new stake in Huntington Bancshares in the fourth quarter valued at $58,000. Finally, Decker Retirement Planning Inc. bought a new position in Huntington Bancshares during the 4th quarter worth $73,000. Institutional investors own 80.72% of the company's stock.

Huntington Bancshares Stock Up 1.4 %

Shares of NASDAQ:HBAN traded up $0.24 during midday trading on Thursday, hitting $17.16. 26,516,016 shares of the company's stock were exchanged, compared to its average volume of 19,817,049. The company has a market cap of $24.93 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 1.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a 12 month low of $12.05 and a 12 month high of $18.44. The stock has a 50 day moving average price of $16.87 and a 200-day moving average price of $15.79.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter in the prior year, the business posted $0.27 EPS. On average, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.4 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares's dividend payout ratio (DPR) is currently 50.41%.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the sale, the vice president now owns 496,076 shares of the company's stock, valued at $8,765,662.92. The trade was a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the company's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the sale, the chief financial officer now directly owns 259,943 shares of the company's stock, valued at $4,582,795.09. This trade represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company's stock.

Wall Street Analysts Forecast Growth

HBAN has been the subject of several recent research reports. Truist Financial increased their price target on Huntington Bancshares from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Royal Bank of Canada reissued an "outperform" rating and set a $20.00 target price on shares of Huntington Bancshares in a research report on Tuesday, January 21st. Piper Sandler dropped their price target on shares of Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating on the stock in a research report on Tuesday, January 21st. Stephens reiterated an "equal weight" rating and set a $18.50 price objective on shares of Huntington Bancshares in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. restated an "overweight" rating and issued a $20.00 target price (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $18.06.

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.