KLP Kapitalforvaltning AS purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 489,900 shares of the bank's stock, valued at approximately $8,035,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of HBAN. Raymond James Financial Inc. bought a new stake in Huntington Bancshares in the fourth quarter worth approximately $150,444,000. State Street Corp increased its stake in shares of Huntington Bancshares by 10.3% in the 3rd quarter. State Street Corp now owns 79,474,115 shares of the bank's stock valued at $1,179,319,000 after acquiring an additional 7,439,909 shares in the last quarter. Amundi boosted its stake 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 acquiring an additional 3,671,235 shares in the last quarter. FMR LLC grew its holdings in Huntington Bancshares by 16.8% in the third quarter. FMR LLC now owns 23,719,168 shares of the bank's stock worth $348,672,000 after purchasing an additional 3,410,597 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in 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 buying an additional 2,218,020 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company's stock.
Insider Transactions at Huntington Bancshares
In other news, VP Scott D. Kleinman sold 69,088 shares of Huntington Bancshares stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the completion of the transaction, the vice president now owns 453,129 shares of the company's stock, valued at $6,647,402.43. The trade was a 13.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the company's stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 335,538 shares in the company, valued at approximately $4,825,036.44. This represents a 10.28 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have recently commented on the company. Morgan Stanley lowered their price objective on Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Barclays raised their price target on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. Baird R W raised shares of Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. Keefe, Bruyette & Woods boosted their price objective on Huntington Bancshares from $16.00 to $19.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Finally, Citigroup cut their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating for the company in a report on Monday. One equities 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $18.18.
Read Our Latest Stock Report on HBAN
Huntington Bancshares Trading Down 0.2 %
Shares of Huntington Bancshares stock traded down $0.03 during trading on Tuesday, reaching $15.32. 17,940,982 shares of the stock were exchanged, compared to its average volume of 16,360,270. Huntington Bancshares Incorporated has a 1 year low of $12.05 and a 1 year high of $18.45. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The stock's fifty day moving average is $16.18 and its 200 day moving average is $16.14. The firm has a market cap of $22.38 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 prior year, the company posted $0.27 EPS. As a group, equities 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 will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.155 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.05%. Huntington Bancshares's dividend payout ratio (DPR) is 50.41%.
Huntington Bancshares Company Profile
(
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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