DNB Asset Management AS Buys 32,190 Shares of Huntington Bancshares Incorporated $HBAN

DNB Asset Management AS grew its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 11.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 304,381 shares of the bank’s stock after buying an additional 32,190 shares during the quarter. DNB Asset Management AS’s holdings in Huntington Bancshares were worth $5,281,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Altrius Capital Management Inc bought a new stake in shares of Huntington Bancshares in the third quarter worth $4,894,000. Vanguard Group Inc. lifted its holdings in Huntington Bancshares by 0.4% in the third quarter. Vanguard Group Inc. now owns 176,980,819 shares of the bank’s stock valued at $3,056,459,000 after buying an additional 680,601 shares during the period. Midwest Trust Co lifted its holdings in Huntington Bancshares by 12.7% in the third quarter. Midwest Trust Co now owns 1,510,977 shares of the bank’s stock valued at $26,095,000 after buying an additional 170,240 shares during the period. JPMorgan Chase & Co. lifted its holdings in Huntington Bancshares by 3.5% in the third quarter. JPMorgan Chase & Co. now owns 9,238,142 shares of the bank’s stock valued at $159,543,000 after buying an additional 314,544 shares during the period. Finally, Fieldview Capital Management LLC lifted its holdings in Huntington Bancshares by 15.9% in the third quarter. Fieldview Capital Management LLC now owns 478,852 shares of the bank’s stock valued at $8,270,000 after buying an additional 65,828 shares during the period. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $15.57 on Tuesday. The firm’s 50-day moving average price is $15.99 and its 200-day moving average price is $16.74. Huntington Bancshares Incorporated has a 1-year low of $14.89 and a 1-year high of $19.45. The firm has a market capitalization of $31.56 billion, a P/E ratio of 11.98, a P/E/G ratio of 0.71 and a beta of 0.96. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73.

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

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be issued a dividend of $0.155 per share. The ex-dividend date is Wednesday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.0%. Huntington Bancshares’s dividend payout ratio is currently 47.69%.

Insider Activity at Huntington Bancshares

In related news, Director James D. Rollins III acquired 8,471 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were purchased at an average price of $18.01 per share, for a total transaction of $152,562.71. Following the completion of the acquisition, the director owned 11,500 shares of the company’s stock, valued at approximately $207,115. This trade represents a 279.66% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the insider owned 83,819 shares in the company, valued at $1,299,194.50. This represents a 10.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have bought a total of 39,200 shares of company stock worth $756,724 over the last three months. 0.67% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Argus boosted their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Truist Financial dropped their target price on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, March 13th. The Goldman Sachs Group dropped their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, April 6th. DA Davidson dropped their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, March 16th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating on the stock in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.05.

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.