Fjarde AP Fonden Fourth Swedish National Pension Fund Raises Stock Holdings in Huntington Bancshares Incorporated $HBAN

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 169.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 512,713 shares of the bank’s stock after acquiring an additional 322,750 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Huntington Bancshares were worth $8,024,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. MV Capital Management Inc. purchased a new position in shares of Huntington Bancshares in the fourth quarter valued at about $25,000. Palisade Asset Management LLC bought a new position in shares of Huntington Bancshares during the third quarter valued at about $26,000. South Plains Financial Inc. boosted its holdings in shares of Huntington Bancshares by 116.3% during the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after purchasing an additional 826 shares during the period. Centennial Bank AR purchased a new stake in shares of Huntington Bancshares during the fourth quarter worth about $28,000. Finally, DV Equities LLC bought a new stake in shares of Huntington Bancshares in the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insiders Place Their Bets

In other news, Director James D. Rollins III sold 223,522 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $17.35, for a total value of $3,878,106.70. Following the sale, the director directly owned 612,155 shares of the company’s stock, valued at $10,620,889.25. This represents a 26.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marcy C. Hingst sold 10,568 shares of the stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the transaction, the executive vice president owned 267,859 shares of the company’s stock, valued at approximately $4,821,462. The trade was a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders acquired 33,500 shares of company stock valued at $617,542. 0.67% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on HBAN shares. JPMorgan Chase & Co. reduced their price target on Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Truist Financial cut their price objective on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Evercore reissued an “outperform” rating and set a $20.00 target price on shares of Huntington Bancshares in a research note on Friday, June 12th. Weiss Ratings downgraded Huntington Bancshares from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 18th. Finally, Morgan Stanley raised their price target on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.15.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $17.86 on Monday. The company has a 50-day simple moving average of $16.60 and a two-hundred day simple moving average of $16.90. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a market capitalization of $36.20 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 0.81 and a beta of 0.93. Huntington Bancshares Incorporated has a one year low of $14.89 and a one year high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.21. The firm had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same quarter in the prior year, the company earned $0.34 EPS. On average, analysts anticipate that Huntington Bancshares Incorporated will post 1.62 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio is presently 47.69%.

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.