Principal Financial Group Inc. Acquires 112,146 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Principal Financial Group Inc. increased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 6.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,743,357 shares of the bank's stock after acquiring 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 quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HBAN. Asset Dedication LLC lifted its stake in Huntington Bancshares by 200.7% during the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank's stock valued at $26,000 after purchasing an additional 1,202 shares during the last quarter. Peoples Bank KS acquired a new stake in shares of Huntington Bancshares during the 3rd quarter valued at $29,000. Hazlett Burt & Watson Inc. boosted its stake in shares of Huntington Bancshares by 695.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank's stock worth $30,000 after acquiring an additional 2,003 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Huntington Bancshares in the 3rd quarter worth $31,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Huntington Bancshares during the third quarter worth $32,000. 80.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Huntington Bancshares from $16.00 to $19.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. The Goldman Sachs Group raised their target price on shares of Huntington Bancshares from $16.25 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. StockNews.com upgraded shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a report on Thursday, December 12th. Barclays raised their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock an "equal weight" rating in a research note on Friday, October 18th. Finally, Citigroup boosted their target price on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a "buy" rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, six have issued 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, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $17.41.

Huntington Bancshares Stock Performance

HBAN stock traded up $0.18 during mid-day trading on Wednesday, reaching $16.46. 5,068,128 shares of the stock traded hands, compared to its average volume of 15,878,154. 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 business has a 50-day moving average of $16.85 and a two-hundred day moving average of $15.02. The firm has a market capitalization of $23.91 billion, a PE ratio of 15.83, a P/E/G ratio of 3.47 and a beta of 1.06. Huntington Bancshares Incorporated has a 52 week low of $12.02 and a 52 week high of $18.44.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same quarter in the prior year, the company earned $0.36 EPS. As a group, equities analysts predict that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares's dividend payout ratio (DPR) is currently 59.62%.

Insider Activity at Huntington Bancshares

In other news, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the sale, the insider now owns 558,342 shares of the company's stock, valued at approximately $8,615,217.06. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott D. Kleinman sold 28,600 shares of the company's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the transaction, the vice president now owns 496,076 shares of the company's stock, valued at $8,765,662.92. The trade was a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,699 shares of company stock worth $757,356 in the last ninety days. 0.92% of the stock is currently owned by 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.