Sumitomo Mitsui Trust Group Inc. Reduces Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,746,908 shares of the bank's stock after selling 49,945 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.26% of Huntington Bancshares worth $60,962,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in HBAN. State Street Corp raised its stake in Huntington Bancshares by 10.3% in the 3rd quarter. State Street Corp now owns 79,474,115 shares of the bank's stock worth $1,179,319,000 after acquiring an additional 7,439,909 shares during the last quarter. FMR LLC raised its stake in shares of 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 last quarter. Victory Capital Management Inc. raised its stake in shares of Huntington Bancshares by 13.2% in the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank's stock worth $298,682,000 after purchasing an additional 2,363,988 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Huntington Bancshares by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank's stock worth $921,778,000 after purchasing an additional 1,522,767 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in Huntington Bancshares by 37.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 4,402,801 shares of the bank's stock worth $64,721,000 after buying an additional 1,199,012 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company's stock.

Huntington Bancshares Price Performance

NASDAQ HBAN traded up $0.02 on Thursday, hitting $16.61. The company had a trading volume of 18,831,383 shares, compared to its average volume of 19,335,213. The company has a market capitalization of $24.13 billion, a PE ratio of 13.50, a PEG ratio of 1.41 and a beta of 1.07. The company's fifty day moving average price is $16.76 and its 200-day moving average price is $15.85. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a 12-month low of $12.05 and a 12-month high of $18.44.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, topping 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 previous year, the company earned $0.27 earnings per share. As a group, analysts predict that Huntington Bancshares Incorporated will post 1.4 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares's payout ratio is 50.41%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HBAN. JPMorgan Chase & Co. reissued an "overweight" rating and set a $20.00 price target (up from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. StockNews.com raised shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a report on Thursday, December 12th. Keefe, Bruyette & Woods lifted 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. Stephens reiterated an "equal weight" rating and set a $18.50 price objective on shares of Huntington Bancshares in a research note on Friday, February 7th. Finally, Truist Financial lifted their price target on Huntington Bancshares from $19.00 to $21.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $18.06.

Huntington Bancshares Company 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.