Geode Capital Management LLC Has $597.93 Million Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Geode Capital Management LLC lessened its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 0.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 36,841,966 shares of the bank's stock after selling 38,696 shares during the quarter. Geode Capital Management LLC owned about 2.54% of Huntington Bancshares worth $597,925,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. StoneX Group Inc. bought a new position in Huntington Bancshares in the 4th quarter valued at about $193,000. National Bank of Canada FI boosted its holdings in shares of Huntington Bancshares by 220.9% in the fourth quarter. National Bank of Canada FI now owns 3,666,949 shares of the bank's stock valued at $59,661,000 after acquiring an additional 2,524,077 shares in the last quarter. HighPoint Advisor Group LLC increased its stake in shares of Huntington Bancshares by 5.0% during the fourth quarter. HighPoint Advisor Group LLC now owns 24,006 shares of the bank's stock valued at $405,000 after acquiring an additional 1,138 shares during the period. B. Metzler seel. Sohn & Co. AG raised its holdings in Huntington Bancshares by 0.7% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 402,239 shares of the bank's stock worth $6,544,000 after purchasing an additional 2,775 shares in the last quarter. Finally, Summit Financial LLC lifted its position in Huntington Bancshares by 39.5% in the fourth quarter. Summit Financial LLC now owns 15,538 shares of the bank's stock worth $255,000 after purchasing an additional 4,397 shares during the period. Institutional investors own 80.72% of the company's stock.

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Huntington Bancshares Stock Up 9.8 %

HBAN traded up $1.22 on Wednesday, reaching $13.71. 31,307,006 shares of the company traded hands, compared to its average volume of 17,254,715. Huntington Bancshares Incorporated has a 52-week low of $11.92 and a 52-week high of $18.45. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The company has a market cap of $20.03 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 1.33 and a beta of 0.89. The stock's 50 day moving average price is $15.37 and its 200-day moving average price is $16.07.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share 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 period in the prior year, the firm earned $0.27 EPS. On average, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.62 annualized dividend and a dividend yield of 4.52%. Huntington Bancshares's dividend payout ratio is 50.41%.

Insider Activity at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 38,451 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total value of $552,925.38. Following the completion of the sale, the chief financial officer now directly owns 335,538 shares in the company, valued at approximately $4,825,036.44. This represents a 10.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Brendan A. Lawlor sold 3,521 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $15.25, for a total transaction of $53,695.25. Following the transaction, the vice president now directly owns 47,950 shares in the company, valued at $731,237.50. The trade was a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,781 shares of company stock valued at $1,631,151. 0.89% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

HBAN has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating on the stock in a research report on Thursday, April 3rd. Piper Sandler cut their price target on shares of Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating for the company in a report on Tuesday, January 21st. Royal Bank of Canada reiterated an "outperform" rating and issued a $20.00 target price on shares of Huntington Bancshares in a report on Tuesday, January 21st. Citigroup reduced their target price on shares of Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating for the company in a report on Monday, March 24th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $18.50 price target on shares of Huntington Bancshares in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $17.94.

Huntington Bancshares 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.