Franklin Resources Inc. raised its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,797,771 shares of the bank's stock after buying an additional 55,602 shares during the quarter. Franklin Resources Inc. owned about 0.12% of Huntington Bancshares worth $27,901,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. State Street Corp grew its stake in shares of Huntington Bancshares by 10.3% in the third quarter. State Street Corp now owns 79,474,115 shares of the bank's stock worth $1,179,319,000 after acquiring an additional 7,439,909 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Huntington Bancshares by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank's stock worth $921,778,000 after purchasing an additional 1,522,767 shares in the last quarter. Geode Capital Management LLC grew its position in Huntington Bancshares by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank's stock valued at $540,422,000 after purchasing an additional 473,893 shares during the last quarter. FMR LLC increased its stake in Huntington Bancshares by 16.8% during the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank's stock valued at $348,672,000 after purchasing an additional 3,410,597 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Huntington Bancshares by 13.2% in the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank's stock worth $298,682,000 after buying an additional 2,363,988 shares during the last quarter. Institutional investors own 80.72% of the company's stock.
Analyst Ratings Changes
HBAN has been the topic of a number of recent analyst reports. Piper Sandler increased their price target on shares of Huntington Bancshares from $15.00 to $17.50 and gave the company an "underweight" rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods lifted their target price on Huntington Bancshares from $16.00 to $19.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Sandler O'Neill restated a "buy" rating on shares of Huntington Bancshares in a research note on Friday, October 18th. DA Davidson increased their price objective on Huntington Bancshares from $16.50 to $17.50 and gave the company a "buy" rating in a research report on Monday, October 21st. Finally, StockNews.com raised shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Huntington Bancshares has a consensus rating of "Moderate Buy" and a consensus target price of $17.41.
Check Out Our Latest Report on Huntington Bancshares
Huntington Bancshares Stock Performance
NASDAQ HBAN remained flat at $15.91 on Thursday. The company had a trading volume of 18,751,148 shares, compared to its average volume of 15,825,962. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. The business has a 50-day simple moving average of $16.78 and a 200 day simple moving average of $14.92. The firm has a market cap of $23.11 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 3.47 and a beta of 1.06. Huntington Bancshares Incorporated has a 12 month low of $12.02 and a 12 month high of $18.44.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.03. The firm had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same period in the previous year, the firm earned $0.36 EPS. As a group, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.
Huntington Bancshares Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.90%. Huntington Bancshares's payout ratio is 59.62%.
Insider Activity at Huntington Bancshares
In related news, 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 transaction, the chief financial officer now owns 259,943 shares in the company, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction on Wednesday, November 13th. The shares were 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 in the company, valued at approximately $8,765,662.92. This represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,699 shares of company stock worth $757,356. 0.92% of the stock is owned by corporate insiders.
Huntington Bancshares Company Profile
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Free Report)
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.
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