Huntington Bancshares Incorporated $HBAN Stock Position Raised by Hsbc Holdings PLC

Hsbc Holdings PLC increased its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 25.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 8,161,085 shares of the bank’s stock after purchasing an additional 1,652,464 shares during the period. Hsbc Holdings PLC owned about 0.40% of Huntington Bancshares worth $141,625,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the business. CIBC Asset Management Inc lifted its position in Huntington Bancshares by 24.5% in the 4th quarter. CIBC Asset Management Inc now owns 533,005 shares of the bank’s stock worth $9,248,000 after buying an additional 104,965 shares in the last quarter. Fieldview Capital Management LLC grew its holdings in shares of Huntington Bancshares by 15.9% during the 3rd quarter. Fieldview Capital Management LLC now owns 478,852 shares of the bank’s stock valued at $8,270,000 after acquiring an additional 65,828 shares in the last quarter. KBC Group NV increased its stake in shares of Huntington Bancshares by 16.3% in the fourth quarter. KBC Group NV now owns 2,820,816 shares of the bank’s stock worth $48,941,000 after acquiring an additional 395,489 shares during the last quarter. Creative Financial Designs Inc. ADV raised its holdings in shares of Huntington Bancshares by 688.9% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 86,478 shares of the bank’s stock worth $1,500,000 after acquiring an additional 75,516 shares in the last quarter. Finally, Korea Investment CORP boosted its position in Huntington Bancshares by 107.2% during the third quarter. Korea Investment CORP now owns 3,933,919 shares of the bank’s stock valued at $67,939,000 after purchasing an additional 2,035,351 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Activity

In related news, Director James D. Rollins III sold 223,522 shares of Huntington Bancshares stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction 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 trade represents a 26.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marcy C. Hingst sold 10,568 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the sale, the executive vice president owned 267,859 shares in the company, valued at approximately $4,821,462. This represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders purchased 33,500 shares of company stock valued at $617,542. 0.67% of the stock is owned by corporate insiders.

Huntington Bancshares Stock Performance

HBAN opened at $17.86 on Friday. The firm has a market capitalization of $36.20 billion, a P/E ratio of 13.74, a price-to-earnings-growth ratio of 0.81 and a beta of 0.93. The stock’s 50 day moving average price is $16.60 and its two-hundred day moving average price is $16.90. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. Huntington Bancshares Incorporated has a 12-month low of $14.89 and a 12-month high of $19.45.

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

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. Huntington Bancshares’s dividend payout ratio is currently 47.69%.

Wall Street Analysts Forecast Growth

HBAN has been the topic of several research reports. Evercore reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a research report on Friday, June 12th. The Goldman Sachs Group lowered their price target on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Royal Bank Of Canada increased their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday. Piper Sandler raised shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price objective on the stock in a research report on Thursday, April 23rd. Finally, Jefferies Financial Group lifted their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $20.15.

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.