DnB Asset Management AS Increases Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

DnB Asset Management AS increased its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 12.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 262,368 shares of the bank’s stock after acquiring an additional 28,801 shares during the period. DnB Asset Management AS’s holdings in Huntington Bancshares were worth $4,269,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC grew its stake in shares of Huntington Bancshares by 35.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 320,975 shares of the bank’s stock valued at $5,222,000 after purchasing an additional 83,523 shares during the last quarter. Pictet Asset Management Holding SA raised its position in Huntington Bancshares by 17.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 850,139 shares of the bank’s stock worth $13,832,000 after buying an additional 129,106 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Huntington Bancshares by 0.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 448,050 shares of the bank’s stock valued at $7,290,000 after acquiring an additional 2,413 shares in the last quarter. Norges Bank acquired a new position in shares of Huntington Bancshares during the fourth quarter worth about $302,826,000. Finally, Caisse Des Depots ET Consignations acquired a new stake in Huntington Bancshares in the fourth quarter valued at about $5,659,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HBAN. Morgan Stanley dropped their price objective on Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Piper Sandler decreased their price objective on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday, January 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a report on Tuesday, January 21st. Barclays upped their price target on Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Finally, Truist Financial boosted their target price on Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.18.

Huntington Bancshares Trading Down 2.2 %

Shares of HBAN stock opened at $14.79 on Monday. Huntington Bancshares Incorporated has a 1-year low of $12.05 and a 1-year high of $18.45. The firm’s 50-day simple moving average is $16.07 and its 200-day simple moving average is $16.16. The firm has a market cap of $21.60 billion, a P/E ratio of 12.02, a PEG ratio of 1.33 and a beta of 1.07. 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 (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, beating 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 period last year, the firm posted $0.27 EPS. As a group, equities analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s payout ratio is currently 50.41%.

Insider Buying and Selling

In other news, VP Brendan A. Lawlor sold 3,521 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $15.25, for a total value of $53,695.25. Following the completion of the sale, the vice president now owns 47,950 shares of the company’s stock, valued at $731,237.50. This represents a 6.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Scott D. Kleinman sold 69,088 shares of Huntington Bancshares stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the transaction, the vice president now owns 453,129 shares in the company, valued at $6,647,402.43. The trade was a 13.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,781 shares of company stock valued at $1,631,151. 0.89% of the stock is currently owned by corporate insiders.

Huntington Bancshares 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.