Korea Investment CORP Increases Stake in Huntington Bancshares Incorporated $HBAN

Korea Investment CORP increased its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 107.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,933,919 shares of the bank’s stock after purchasing an additional 2,035,351 shares during the period. Korea Investment CORP’s holdings in Huntington Bancshares were worth $67,939,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. MTM Investment Management LLC acquired a new position in Huntington Bancshares during the 2nd quarter valued at approximately $25,000. Accredited Wealth Management LLC lifted its stake in shares of Huntington Bancshares by 374.5% during the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock worth $29,000 after buying an additional 1,322 shares during the period. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Huntington Bancshares during the third quarter valued at $31,000. AlphaCore Capital LLC purchased a new stake in shares of Huntington Bancshares during the third quarter valued at $33,000. Finally, First Horizon Corp acquired a new position in shares of Huntington Bancshares in the 3rd quarter valued at $36,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Transactions at Huntington Bancshares

In other news, Director James D. Rollins III acquired 6,873 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were bought at an average cost of $23.27 per share, for a total transaction of $159,934.71. Following the acquisition, the director owned 4,000 shares in the company, valued at approximately $93,080. This represents a -239.23% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brendan A. Lawlor sold 17,455 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $18.93, for a total value of $330,423.15. Following the sale, the vice president owned 42,398 shares of the company’s stock, valued at approximately $802,594.14. This trade represents a 29.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders bought 26,488 shares of company stock worth $510,286 and sold 50,145 shares worth $929,885. 0.89% of the stock is owned by corporate insiders.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $16.31 on Monday. The stock has a market capitalization of $33.11 billion, a P/E ratio of 11.73, a P/E/G ratio of 0.66 and a beta of 0.95. The company’s fifty day moving average price is $17.70 and its 200 day moving average price is $17.08. 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 Incorporated has a 1 year low of $11.91 and a 1 year high of $19.45.

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

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.8%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 44.60%.

Analysts Set New Price Targets

HBAN has been the subject of a number of research analyst reports. Stephens raised their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 18th. JPMorgan Chase & Co. increased their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Barclays raised their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. Wall Street Zen downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Piper Sandler upped their target price on Huntington Bancshares from $16.00 to $17.00 and gave the company an “underweight” rating in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.78.

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.