Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Purchased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 49.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,094 shares of the bank’s stock after acquiring an additional 23,438 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Huntington Bancshares were worth $992,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of HBAN. Boston Partners lifted its stake in shares of Huntington Bancshares by 59.3% during the fourth quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock worth $593,408,000 after purchasing an additional 17,365,446 shares in the last quarter. Norges Bank purchased a new position in shares of Huntington Bancshares in the fourth quarter valued at $206,703,000. KBC Group NV grew its holdings in Huntington Bancshares by 715.0% during the 4th quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock valued at $54,081,000 after purchasing an additional 3,729,974 shares in the last quarter. Bank of Nova Scotia increased its stake in Huntington Bancshares by 641.5% during the 4th quarter. Bank of Nova Scotia now owns 2,775,356 shares of the bank’s stock worth $35,301,000 after buying an additional 2,401,067 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Huntington Bancshares by 39.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock worth $83,124,000 after buying an additional 1,838,019 shares in the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock traded up $0.07 on Wednesday, reaching $13.04. 7,430,507 shares of the company were exchanged, compared to its average volume of 17,103,639. The firm has a market cap of $18.90 billion, a price-to-earnings ratio of 11.75, a P/E/G ratio of 2.48 and a beta of 1.06. Huntington Bancshares Incorporated has a 1-year low of $9.25 and a 1-year high of $14.30. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88. The company’s 50-day moving average is $13.34 and its two-hundred day moving average is $13.17.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the business posted $0.38 EPS. As a group, research analysts expect that Huntington Bancshares Incorporated will post 1.17 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 17th were paid a $0.155 dividend. The ex-dividend date was Monday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.75%. Huntington Bancshares’s payout ratio is 55.86%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on HBAN shares. Piper Sandler downgraded Huntington Bancshares from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $13.50 to $11.50 in a research note on Friday, June 14th. JPMorgan Chase & Co. reduced their target price on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Jefferies Financial Group cut their price target on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. StockNews.com lowered shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $16.00 price target on shares of Huntington Bancshares in a research report on Tuesday, June 11th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.93.

Insider Activity

In related news, VP Brantley J. Standridge sold 50,000 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total value of $680,000.00. Following the completion of the transaction, the vice president now owns 385,409 shares in the company, valued at approximately $5,241,562.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Huntington Bancshares news, VP Brantley J. Standridge sold 50,000 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total transaction of $680,000.00. Following the completion of the transaction, the vice president now directly owns 385,409 shares of the company’s stock, valued at approximately $5,241,562.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Helga Houston sold 7,278 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $13.64, for a total value of $99,271.92. Following the completion of the sale, the insider now directly owns 648,904 shares in the company, valued at approximately $8,851,050.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 157,829 shares of company stock valued at $2,148,623. Company insiders own 0.92% of the company’s stock.

About Huntington Bancshares

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.