Raymond James Financial Inc. Takes Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Raymond James Financial Inc. bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,246,713 shares of the bank's stock, valued at approximately $150,444,000. Raymond James Financial Inc. owned about 0.64% of Huntington Bancshares at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arvest Bank Trust Division acquired a new position in shares of Huntington Bancshares in the third quarter valued at approximately $2,381,000. Mediolanum International Funds Ltd acquired a new position in shares of Huntington Bancshares in the fourth quarter valued at approximately $422,000. Donoghue Forlines LLC acquired a new position in shares of Huntington Bancshares in the fourth quarter valued at approximately $1,460,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Huntington Bancshares by 5.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank's stock valued at $12,414,000 after purchasing an additional 44,662 shares during the last quarter. Finally, Petiole USA ltd acquired a new position in shares of Huntington Bancshares in the third quarter valued at approximately $3,454,000. Institutional investors and hedge funds own 80.72% of the company's stock.

Analysts Set New Price Targets

HBAN has been the topic of several research reports. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $20.00 target price (up previously from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. Keefe, Bruyette & Woods increased their price target on Huntington Bancshares from $16.00 to $19.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Royal Bank of Canada reissued an "outperform" rating and set a $20.00 price target on shares of Huntington Bancshares in a research report on Tuesday, January 21st. Truist Financial increased their price target on Huntington Bancshares from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Finally, StockNews.com raised Huntington Bancshares from a "sell" rating to a "hold" rating in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Huntington Bancshares presently has an average rating of "Moderate Buy" and a consensus target price of $18.24.

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Huntington Bancshares Price Performance

Shares of HBAN traded up $0.01 during trading hours on Friday, reaching $15.14. The stock had a trading volume of 25,516,420 shares, compared to its average volume of 20,992,611. Huntington Bancshares Incorporated has a 12 month low of $12.05 and a 12 month high of $18.44. The stock has a market capitalization of $22.01 billion, a PE ratio of 12.31, a PEG ratio of 1.33 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 company's 50-day moving average is $16.55 and its two-hundred day moving average is $16.11.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same period in the previous year, the business posted $0.27 earnings per share. Research analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares's payout ratio is 50.41%.

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.