Huntington Bancshares Incorporated $HBAN Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB boosted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 24.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 175,754 shares of the bank’s stock after purchasing an additional 34,908 shares during the quarter. Nordea Investment Management AB’s holdings in Huntington Bancshares were worth $3,055,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HBAN. Northside Capital Management LLC acquired a new stake in shares of Huntington Bancshares in the fourth quarter valued at about $8,289,000. Henrickson Nauta Wealth Advisors Inc. boosted its position in Huntington Bancshares by 43.7% during the fourth quarter. Henrickson Nauta Wealth Advisors Inc. now owns 16,920 shares of the bank’s stock worth $310,000 after acquiring an additional 5,146 shares during the last quarter. Aventura Private Wealth LLC acquired a new position in Huntington Bancshares during the fourth quarter worth about $59,000. Sagespring Wealth Partners LLC grew its stake in Huntington Bancshares by 2.4% during the 4th quarter. Sagespring Wealth Partners LLC now owns 25,217 shares of the bank’s stock valued at $438,000 after acquiring an additional 587 shares in the last quarter. Finally, Everhart Financial Group Inc. grew its stake in Huntington Bancshares by 7.2% during the 4th quarter. Everhart Financial Group Inc. now owns 59,311 shares of the bank’s stock valued at $1,029,000 after acquiring an additional 3,998 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on HBAN shares. Piper Sandler raised their target price on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock an “underweight” rating in a research note on Thursday, January 22nd. Argus increased their price target on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Truist Financial reduced 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. Zacks Research lowered Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Finally, Stephens upped their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.63.

Insiders Place Their Bets

In related news, VP Scott D. Kleinman sold 65,530 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $15.28, for a total value of $1,001,298.40. Following the sale, the vice president directly owned 481,676 shares in the company, valued at approximately $7,360,009.28. The trade was a 11.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Prashant Nateri sold 10,171 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $15.50, for a total transaction of $157,650.50. Following the completion of the transaction, the insider directly owned 83,819 shares in the company, valued at $1,299,194.50. The trade was a 10.82% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have acquired 27,700 shares of company stock worth $540,401 and have sold 108,986 shares worth $1,785,958. Company insiders own 0.67% of the company’s stock.

Huntington Bancshares Stock Performance

Huntington Bancshares stock opened at $15.08 on Friday. The firm has a 50 day simple moving average of $16.98 and a 200-day simple moving average of $16.87. The stock has a market cap of $30.72 billion, a price-to-earnings ratio of 10.85, a price-to-earnings-growth ratio of 0.63 and a beta of 0.95. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.92. Huntington Bancshares Incorporated has a 1-year low of $11.91 and a 1-year high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the previous year, the firm posted $0.34 EPS. On average, analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be given a $0.155 dividend. The ex-dividend date is Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 4.1%. Huntington Bancshares’s 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.