Sumitomo Mitsui DS Asset Management Company Ltd Sells 77,507 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Sumitomo Mitsui DS Asset Management Company Ltd reduced its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 32.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 161,123 shares of the bank's stock after selling 77,507 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Huntington Bancshares were worth $2,621,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in HBAN. Asset Dedication LLC lifted its position in Huntington Bancshares by 200.7% in the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank's stock worth $26,000 after purchasing an additional 1,202 shares during the period. Y.D. More Investments Ltd lifted its holdings in shares of Huntington Bancshares by 126.8% in the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank's stock valued at $30,000 after buying an additional 1,023 shares during the period. Fortitude Family Office LLC acquired a new stake in shares of Huntington Bancshares in the third quarter valued at $32,000. Crews Bank & Trust acquired a new stake in shares of Huntington Bancshares in the fourth quarter valued at $58,000. Finally, UMB Bank n.a. lifted its holdings in Huntington Bancshares by 19.1% in the 3rd quarter. UMB Bank n.a. now owns 4,545 shares of the bank's stock valued at $67,000 after acquiring an additional 728 shares during the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on HBAN shares. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $20.00 price target (up from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Sandler O'Neill reissued a "buy" rating on shares of Huntington Bancshares in a research note on Friday, October 18th. Stephens reiterated an "equal weight" rating and set a $18.50 price objective on shares of Huntington Bancshares in a research report on Friday, February 7th. Truist Financial increased their price objective on Huntington Bancshares from $19.00 to $21.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $20.00 price objective on shares of Huntington Bancshares in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Huntington Bancshares currently has an average rating of "Moderate Buy" and an average target price of $18.06.

Huntington Bancshares Stock Up 0.1 %

Shares of HBAN stock traded up $0.02 during trading on Thursday, hitting $16.61. 18,831,383 shares of the company were exchanged, compared to its average volume of 19,335,213. The firm has a market capitalization of $24.13 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 1.41 and a beta of 1.07. 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 business's 50-day simple moving average is $16.76 and its 200 day simple moving average is $15.85. Huntington Bancshares Incorporated has a twelve month low of $12.05 and a twelve month high of $18.44.

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 net margin of 16.23% and a return on equity of 11.23%. During the same quarter in the previous year, the company posted $0.27 EPS. As a group, analysts forecast that Huntington Bancshares Incorporated will post 1.4 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be issued a $0.155 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.73%. Huntington Bancshares's dividend payout ratio is currently 50.41%.

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.