National Pension Service Raises Stock Holdings in Huntington Bancshares Incorporated $HBAN

National Pension Service lifted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 3.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,576,163 shares of the bank’s stock after acquiring an additional 82,094 shares during the period. National Pension Service’s holdings in Huntington Bancshares were worth $44,490,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC raised its position in Huntington Bancshares by 5.0% in the 1st quarter. Empowered Funds LLC now owns 28,888 shares of the bank’s stock worth $434,000 after purchasing an additional 1,366 shares during the period. Woodline Partners LP increased its holdings in shares of Huntington Bancshares by 40.8% in the first quarter. Woodline Partners LP now owns 122,821 shares of the bank’s stock worth $1,844,000 after buying an additional 35,574 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Huntington Bancshares by 7.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 194,869 shares of the bank’s stock valued at $3,266,000 after acquiring an additional 13,288 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in Huntington Bancshares during the 2nd quarter valued at about $66,000. Finally, QRG Capital Management Inc. grew its position in Huntington Bancshares by 5.9% during the 2nd quarter. QRG Capital Management Inc. now owns 27,344 shares of the bank’s stock worth $458,000 after acquiring an additional 1,517 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Insider Activity

In related news, insider Amit Dhingra sold 10,000 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $18.50, for a total transaction of $185,000.00. Following the sale, the insider directly owned 155,634 shares of the company’s stock, valued at $2,879,229. This trade represents a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Marcy C. Hingst sold 12,832 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $18.00, for a total value of $230,976.00. Following the completion of the transaction, the executive vice president directly owned 239,473 shares of the company’s stock, valued at approximately $4,310,514. This trade represents a 5.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 97,863 shares of company stock worth $1,581,634. Corporate insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Huntington Bancshares from $18.00 to $18.50 and gave the stock an “overweight” rating in a report on Friday, October 10th. Piper Sandler upped their target price on Huntington Bancshares from $16.00 to $17.00 and gave the company an “underweight” rating in a report on Thursday, January 22nd. Morgan Stanley cut their price target on shares of Huntington Bancshares from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Stephens raised their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 18th. Finally, Raymond James Financial increased their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and an average price target of $20.26.

Huntington Bancshares Price Performance

Shares of HBAN opened at $17.88 on Tuesday. Huntington Bancshares Incorporated has a fifty-two week low of $11.91 and a fifty-two week high of $18.91. The firm’s 50-day simple moving average is $17.50 and its two-hundred day simple moving average is $16.89. The stock has a market cap of $28.16 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 0.71 and a beta of 0.95. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the prior year, the firm earned $0.34 earnings per share. Analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Wednesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 44.60%.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.