Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Acquired by Bank of Nova Scotia

Bank of Nova Scotia grew its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 909.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,940,373 shares of the bank's stock after purchasing an additional 1,748,127 shares during the period. Bank of Nova Scotia owned approximately 0.13% of Huntington Bancshares worth $31,570,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of Huntington Bancshares by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank's stock worth $1,056,353,000 after acquiring an additional 2,218,020 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Huntington Bancshares by 4.6% in the fourth quarter. Invesco Ltd. now owns 52,599,986 shares of the bank's stock worth $855,802,000 after buying an additional 2,310,502 shares during the period. Geode Capital Management LLC grew its position in Huntington Bancshares by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank's stock valued at $540,422,000 after acquiring an additional 473,893 shares during the last quarter. FMR LLC lifted its holdings in Huntington Bancshares by 36.9% during the 4th quarter. FMR LLC now owns 32,479,039 shares of the bank's stock valued at $528,434,000 after buying an additional 8,759,871 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Huntington Bancshares by 7.4% in the fourth quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank's stock valued at $355,094,000 after purchasing an additional 1,506,606 shares during the period. Institutional investors own 80.72% of the company's stock.

Remove Ads

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN traded up $0.40 during mid-day trading on Tuesday, reaching $13.55. The company's stock had a trading volume of 6,616,152 shares, compared to its average volume of 17,261,434. Huntington Bancshares Incorporated has a 1-year low of $11.92 and a 1-year high of $18.45. The stock has a market capitalization of $19.79 billion, a P/E ratio of 11.02, a P/E/G ratio of 1.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The stock has a 50-day moving average of $15.14 and a two-hundred day moving average of $16.05.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same period in the previous year, the firm earned $0.27 earnings per share. On average, equities research analysts anticipate 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 was Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.58%. Huntington Bancshares's dividend payout ratio is currently 50.41%.

Analyst Ratings Changes

Several analysts recently weighed in on HBAN shares. Citigroup decreased their price objective on Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating for the company in a report on Monday, March 24th. Stephens restated an "equal weight" rating and set a $18.50 target price on shares of Huntington Bancshares in a research note on Friday, February 7th. JPMorgan Chase & Co. decreased their price target on shares of Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Robert W. Baird raised Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 target price for the company in a report on Friday, March 7th. Finally, Piper Sandler decreased their target price on shares of Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating for the company in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Huntington Bancshares has a consensus rating of "Moderate Buy" and an average target price of $17.94.

Insider Buying and Selling

In other news, CFO Zachary Jacob Wasserman sold 38,451 shares of the business's stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 335,538 shares of the company's stock, valued at approximately $4,825,036.44. The trade was a 10.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brendan A. Lawlor sold 3,521 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were 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 approximately $731,237.50. The trade was a 6.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,781 shares of company stock worth $1,631,151. Company insiders own 0.89% of the company's stock.

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.