North Dakota State Investment Board Buys Shares of 51,442 Huntington Bancshares Incorporated $HBAN

North Dakota State Investment Board bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 51,442 shares of the bank’s stock, valued at approximately $893,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Elyxium Wealth LLC purchased a new stake in shares of Huntington Bancshares in the 4th quarter valued at $47,000. Abacus Wealth Partners LLC purchased a new stake in shares of Huntington Bancshares in the 4th quarter valued at $281,000. May Hill Capital LLC purchased a new stake in shares of Huntington Bancshares in the 4th quarter valued at $272,000. Beese Fulmer Investment Management Inc. raised its holdings in shares of Huntington Bancshares by 101.9% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 558,017 shares of the bank’s stock valued at $9,682,000 after buying an additional 281,590 shares during the period. Finally, Millennium Capital Advisors LLC purchased a new stake in shares of Huntington Bancshares in the 4th quarter valued at $437,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Activity

In related news, insider Prashant Nateri sold 10,171 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $15.50, for a total value of $157,650.50. Following the completion of the transaction, the insider directly owned 83,819 shares of the company’s stock, valued at $1,299,194.50. This trade represents a 10.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Scott D. Kleinman sold 65,530 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the vice president directly owned 481,676 shares of the company’s stock, valued at $7,360,009.28. The trade was a 11.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders acquired 25,000 shares of company stock valued at $503,822 in the last three months. 0.67% of the stock is currently owned by company insiders.

Huntington Bancshares Trading Up 2.3%

NASDAQ:HBAN opened at $15.82 on Thursday. The stock has a market cap of $32.07 billion, a P/E ratio of 12.17, a P/E/G ratio of 0.71 and a beta of 0.96. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. Huntington Bancshares Incorporated has a 1 year low of $14.89 and a 1 year high of $19.45. The stock has a 50-day simple moving average of $15.97 and a 200-day simple moving average of $16.74.

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

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.69%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wall Street Zen upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. The Goldman Sachs Group cut their price target on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Barclays downgraded Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Truist Financial cut their price target on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Finally, Royal Bank Of Canada cut their price target on Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.