Pictet Asset Management Holding SA Grows Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Pictet Asset Management Holding SA lifted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 17.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 850,139 shares of the bank's stock after purchasing an additional 129,106 shares during the quarter. Pictet Asset Management Holding SA owned 0.06% of Huntington Bancshares worth $13,832,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HBAN. State Street Corp boosted 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 period. Charles Schwab Investment Management Inc. raised 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 valued at $1,056,353,000 after acquiring an additional 2,218,020 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of 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 acquiring an additional 473,893 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Huntington Bancshares by 7.4% during the fourth quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank's stock worth $355,094,000 after purchasing an additional 1,506,606 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Huntington Bancshares in the fourth quarter worth approximately $302,826,000. Hedge funds and other institutional investors own 80.72% of the company's stock.

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Analyst Ratings Changes

HBAN has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $20.00 price objective on shares of Huntington Bancshares in a report on Tuesday, January 21st. Citigroup decreased their price objective on Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Monday, March 24th. StockNews.com raised shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a report on Thursday, December 12th. Robert W. Baird raised Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 target price on the stock in a research note on Friday, March 7th. Finally, Piper Sandler dropped their price target on Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating for the company in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Huntington Bancshares has an average rating of "Moderate Buy" and an average price target of $17.94.

Huntington Bancshares Stock Performance

Shares of HBAN traded down $0.86 on Friday, reaching $12.60. The company's stock had a trading volume of 28,687,049 shares, compared to its average volume of 17,044,482. The stock's 50 day simple moving average is $15.88 and its two-hundred day simple moving average is $16.14. 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 stock has a market capitalization of $18.41 billion, a P/E ratio of 10.24, a PEG ratio of 1.33 and a beta of 0.89. Huntington Bancshares Incorporated has a 12-month low of $12.05 and a 12-month high of $18.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.34 EPS for the quarter, topping 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 prior year, the company earned $0.27 EPS. Research analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were paid a $0.155 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.92%. Huntington Bancshares's dividend payout ratio (DPR) is presently 50.41%.

Insider Activity

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 38,451 shares of the business'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 sale, the chief financial officer now owns 335,538 shares in the company, valued at $4,825,036.44. The trade was a 10.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brendan A. Lawlor sold 3,521 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $15.25, for a total value of $53,695.25. Following the transaction, the vice president now owns 47,950 shares of the company's stock, 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. Insiders have sold 111,781 shares of company stock worth $1,631,151 in the last three months. Company insiders own 0.89% of the company's stock.

About Huntington Bancshares

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.