Prudential PLC cut its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 63.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,231 shares of the bank's stock after selling 55,920 shares during the period. Prudential PLC's holdings in Huntington Bancshares were worth $524,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new position in Huntington Bancshares during the fourth quarter worth about $302,826,000. Raymond James Financial Inc. purchased a new position in Huntington Bancshares in the 4th quarter valued at approximately $150,444,000. Amundi boosted its position in Huntington Bancshares by 26.7% during the fourth quarter. Amundi now owns 17,435,207 shares of the bank's stock worth $286,460,000 after purchasing an additional 3,671,235 shares in the last quarter. National Bank of Canada FI raised its stake in shares of Huntington Bancshares by 220.9% during the 4th quarter. National Bank of Canada FI now owns 3,666,949 shares of the bank's stock worth $59,661,000 after buying an additional 2,524,077 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Huntington Bancshares by 3.5% during the fourth 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. 80.72% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, VP Brendan A. Lawlor sold 3,521 shares of the firm's 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 of the company's stock, valued at approximately $731,237.50. This trade represents a 6.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.38, for a total transaction of $552,925.38. Following the completion of the sale, the chief financial officer now directly owns 335,538 shares of the company's stock, valued at $4,825,036.44. The trade was a 10.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,781 shares of company stock worth $1,631,151. Insiders own 0.89% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on HBAN shares. Robert W. Baird raised shares of Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 price objective for the company in a research report on Friday, March 7th. Truist Financial lifted their price target on Huntington Bancshares from $19.00 to $21.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Baird R W upgraded shares of Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. Royal Bank of Canada restated an "outperform" rating and issued a $20.00 target price on shares of Huntington Bancshares in a report on Tuesday, January 21st. Finally, Barclays boosted their price objective on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $17.94.
Check Out Our Latest Stock Report on HBAN
Huntington Bancshares Stock Performance
Shares of Huntington Bancshares stock traded up $0.27 on Monday, reaching $13.16. 2,850,839 shares of the company were exchanged, compared to its average volume of 17,250,571. The firm has a market cap of $19.22 billion, a price-to-earnings ratio of 10.70, a P/E/G ratio of 1.33 and a beta of 0.89. Huntington Bancshares Incorporated has a 1-year low of $11.92 and a 1-year high of $18.45. 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 company's 50-day moving average is $15.21 and its two-hundred day moving average is $16.06.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share 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 last year, the firm earned $0.27 EPS. As a group, research analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.
Huntington Bancshares Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend was Tuesday, March 18th. Huntington Bancshares's payout ratio is 50.41%.
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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