Natixis Buys Shares of 45,060 Huntington Bancshares Incorporated (NASDAQ:HBAN)

Natixis purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 45,060 shares of the bank's stock, valued at approximately $733,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in Huntington Bancshares by 3.5% during the 4th 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 in the last quarter. Invesco Ltd. lifted its position in shares of Huntington Bancshares by 4.6% in the 4th quarter. Invesco Ltd. now owns 52,599,986 shares of the bank's stock worth $855,802,000 after purchasing an additional 2,310,502 shares during the period. FMR LLC boosted its stake in shares of Huntington Bancshares by 36.9% during the fourth quarter. FMR LLC now owns 32,479,039 shares of the bank's stock valued at $528,434,000 after purchasing an additional 8,759,871 shares in the last quarter. Victory Capital Management Inc. boosted its stake 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 valued at $355,094,000 after purchasing an additional 1,506,606 shares in the last quarter. Finally, Norges Bank purchased a new position in Huntington Bancshares during the fourth quarter valued at approximately $302,826,000. Institutional investors own 80.72% of the company's stock.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, VP Brantley J. Standridge sold 70,417 shares of Huntington Bancshares stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $13.69, for a total value of $964,008.73. Following the completion of the transaction, the vice president now owns 326,456 shares of the company's stock, valued at approximately $4,469,182.64. The trade was a 17.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Scott D. Kleinman sold 69,088 shares of the company's 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 directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 207,617 shares of company stock valued at $2,942,892. 0.89% of the stock is owned by company insiders.

Huntington Bancshares Stock Performance

Shares of NASDAQ HBAN opened at $14.17 on Thursday. The stock has a market cap of $20.70 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 1.33 and a beta of 0.89. Huntington Bancshares Incorporated has a 12 month low of $11.92 and a 12 month high of $18.45. The company has a 50 day simple moving average of $14.70 and a two-hundred day simple moving average of $15.99. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.03. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.89 billion. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period in the previous year, the firm posted $0.27 earnings per share. As a group, analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares declared that its Board of Directors has authorized a share repurchase plan on Thursday, April 17th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the bank to reacquire up to 5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend is Tuesday, June 17th. Huntington Bancshares's dividend payout ratio is currently 47.33%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Piper Sandler lowered their target price on Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating for the company in a report on Tuesday, January 21st. Raymond James restated a "strong-buy" rating and set a $18.00 price objective (down from $20.00) on shares of Huntington Bancshares in a research note on Monday. Truist Financial cut their target price on Huntington Bancshares from $21.00 to $17.00 and set a "buy" rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Finally, Stephens restated an "equal weight" rating and issued a $16.50 price target on shares of Huntington Bancshares in a report on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Huntington Bancshares presently has an average rating of "Moderate Buy" and a consensus target price of $17.39.

Huntington Bancshares Profile

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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