Principal Financial Group Inc. Boosts Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Principal Financial Group Inc. grew its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 6.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,743,357 shares of the bank's stock after purchasing an additional 112,146 shares during the period. Principal Financial Group Inc. owned approximately 0.12% of Huntington Bancshares worth $25,627,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Asset Dedication LLC lifted its stake in shares of Huntington Bancshares by 200.7% during the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank's stock worth $26,000 after acquiring an additional 1,202 shares during the last quarter. Peoples Bank KS purchased a new position in Huntington Bancshares in the 3rd quarter worth about $29,000. Hazlett Burt & Watson Inc. lifted its holdings in Huntington Bancshares by 695.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank's stock valued at $30,000 after buying an additional 2,003 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Huntington Bancshares in the 3rd quarter valued at about $31,000. Finally, Fortitude Family Office LLC bought a new position in Huntington Bancshares in the 3rd quarter worth about $32,000. Institutional investors own 80.72% of the company's stock.

Huntington Bancshares Price Performance

Shares of HBAN stock traded down $0.05 during mid-day trading on Wednesday, hitting $17.59. 9,997,786 shares of the stock were exchanged, compared to its average volume of 16,101,013. Huntington Bancshares Incorporated has a 52-week low of $10.55 and a 52-week high of $17.97. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. The company has a market cap of $25.55 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 3.58 and a beta of 1.03. The firm has a fifty day moving average of $15.20 and a 200 day moving average of $14.25.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same period last year, the company earned $0.36 earnings per share. Research analysts anticipate that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares's payout ratio is 59.62%.

Analyst Upgrades and Downgrades

HBAN has been the topic of a number of recent research reports. Robert W. Baird downgraded Huntington Bancshares from an "outperform" rating to a "neutral" rating and set a $15.00 price target on the stock. in a research report on Friday, July 26th. Piper Sandler lifted their target price on Huntington Bancshares from $14.00 to $15.00 and gave the company an "underweight" rating in a research note on Friday, October 18th. DA Davidson increased their target price on shares of Huntington Bancshares from $16.50 to $17.50 and gave the company a "buy" rating in a research report on Monday, October 21st. Citigroup raised their price target on Huntington Bancshares from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Monday, July 22nd. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $17.00 target price on shares of Huntington Bancshares in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Huntington Bancshares has a consensus rating of "Moderate Buy" and a consensus target price of $16.09.

Insider Activity at Huntington Bancshares

In related news, insider Helga Houston sold 6,455 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the transaction, the insider now directly owns 558,342 shares of the company's stock, valued at approximately $8,615,217.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.89% of the stock is currently owned by corporate insiders.

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.