BI Asset Management Fondsmaeglerselskab A S Grows Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

BI Asset Management Fondsmaeglerselskab A S lifted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 59.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 142,288 shares of the bank's stock after purchasing an additional 52,842 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Huntington Bancshares were worth $2,315,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Curi RMB Capital LLC lifted its stake in Huntington Bancshares by 19.6% in the fourth quarter. Curi RMB Capital LLC now owns 619,981 shares of the bank's stock worth $10,087,000 after purchasing an additional 101,478 shares during the last quarter. First Trust Advisors LP boosted its holdings in Huntington Bancshares by 14.1% during the 4th quarter. First Trust Advisors LP now owns 10,021,325 shares of the bank's stock valued at $163,047,000 after acquiring an additional 1,239,513 shares during the period. CANADA LIFE ASSURANCE Co grew its position in Huntington Bancshares by 11.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,424,624 shares of the bank's stock worth $23,180,000 after acquiring an additional 149,586 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Huntington Bancshares by 174.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 2,709,065 shares of the bank's stock worth $44,076,000 after purchasing an additional 1,721,507 shares during the period. Finally, Farringdon Capital Ltd. bought a new stake in Huntington Bancshares in the fourth quarter valued at approximately $553,000. 80.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft raised Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 target price on the stock in a report on Thursday. Piper Sandler reduced their price objective on shares of Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating for the company in a research note on Tuesday, January 21st. Truist Financial lowered their price objective on Huntington Bancshares from $21.00 to $17.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, 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 report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Huntington Bancshares has an average rating of "Moderate Buy" and an average target price of $17.45.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, VP Brantley J. Standridge sold 70,417 shares of the stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $13.69, for a total transaction of $964,008.73. Following the completion of the transaction, the vice president now owns 326,456 shares of the company's stock, valued at $4,469,182.64. This represents a 17.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brendan A. Lawlor sold 3,521 shares of Huntington Bancshares stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $15.25, for a total value of $53,695.25. Following the completion of the sale, the vice president now directly owns 47,950 shares in the company, valued at $731,237.50. This trade represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 207,617 shares of company stock valued at $2,942,892 in the last three months. 0.89% of the stock is currently owned by corporate insiders.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN traded down $0.15 during midday trading on Friday, reaching $14.40. The stock had a trading volume of 17,839,315 shares, compared to its average volume of 17,329,180. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares Incorporated has a 12-month low of $11.92 and a 12-month high of $18.45. The stock has a 50-day moving average of $14.65 and a 200-day moving average of $15.99. The company has a market capitalization of $21.03 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.89 billion. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter in the prior year, the business posted $0.27 EPS. As a group, research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 annualized dividend and a yield of 4.31%. Huntington Bancshares's payout ratio is 47.33%.

Huntington Bancshares announced that its board has initiated a share buyback program on Thursday, April 17th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the bank to buy up to 5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

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.