111,019 Shares in Huntington Bancshares Incorporated (NASDAQ:HBAN) Purchased by Avanza Fonder AB

Avanza Fonder AB bought a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 111,019 shares of the bank's stock, valued at approximately $1,806,000.

A number of other hedge funds have also recently made changes to their positions in the stock. State Street Corp raised its stake in Huntington Bancshares by 10.3% during the third quarter. State Street Corp now owns 79,474,115 shares of the bank's stock valued at $1,179,319,000 after buying an additional 7,439,909 shares during the last quarter. FMR LLC increased its holdings in shares of Huntington Bancshares by 16.8% during the third quarter. FMR LLC now owns 23,719,168 shares of the bank's stock valued at $348,672,000 after acquiring an additional 3,410,597 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Huntington Bancshares by 13.2% in the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank's stock worth $298,682,000 after purchasing an additional 2,363,988 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in Huntington Bancshares by 194.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,203,789 shares of the bank's stock worth $42,226,000 after purchasing an additional 2,116,839 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Huntington Bancshares by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank's stock valued at $921,778,000 after purchasing an additional 1,522,767 shares during the last quarter. 80.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HBAN. The Goldman Sachs Group upped their target price on shares of Huntington Bancshares from $16.25 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. StockNews.com raised Huntington Bancshares from a "sell" rating to a "hold" rating in a research report on Thursday, December 12th. Royal Bank of Canada reissued an "outperform" rating and issued a $20.00 target price on shares of Huntington Bancshares in a report on Monday, December 23rd. Barclays upped their price target on Huntington Bancshares from $17.00 to $19.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. Finally, Truist Financial assumed coverage on Huntington Bancshares in a report on Tuesday, January 7th. They issued a "buy" rating and a $19.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of "Moderate Buy" and an average price target of $17.76.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the sale, the insider now owns 558,342 shares of the company's stock, valued at $8,615,217.06. The trade was a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm'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 transaction, the chief financial officer now directly owns 259,943 shares of the company's stock, valued at approximately $4,582,795.09. This trade represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,699 shares of company stock worth $757,356 in the last 90 days. 0.92% of the stock is currently owned by corporate insiders.

Huntington Bancshares Stock Performance

Shares of HBAN stock traded up $0.17 during trading hours on Friday, reaching $17.01. 31,298,513 shares of the company traded hands, compared to its average volume of 13,238,144. The company has a market cap of $24.71 billion, a P/E ratio of 16.36, a P/E/G ratio of 2.51 and a beta of 1.07. Huntington Bancshares Incorporated has a 12-month low of $12.02 and a 12-month high of $18.44. The firm has a 50-day moving average price of $17.06 and a 200 day moving average price of $15.49. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same period in the prior year, the company posted $0.27 earnings per share. As a group, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.22 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.64%. Huntington Bancshares's dividend payout ratio is currently 59.62%.

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.