Hsbc Holdings PLC Acquires 1,652,464 Shares of Huntington Bancshares Incorporated $HBAN

Hsbc Holdings PLC raised its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 25.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 8,161,085 shares of the bank’s stock after acquiring an additional 1,652,464 shares during the quarter. Hsbc Holdings PLC’s holdings in Huntington Bancshares were worth $141,625,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of HBAN. Vanguard Group Inc. grew its stake in shares of Huntington Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock worth $3,319,385,000 after purchasing an additional 14,338,222 shares during the last quarter. State Street Corp increased its holdings in Huntington Bancshares by 4.7% in the fourth quarter. State Street Corp now owns 77,228,656 shares of the bank’s stock valued at $1,351,806,000 after purchasing an additional 3,438,501 shares during the period. Wellington Management Group LLP raised its position in Huntington Bancshares by 4,265.5% during the 4th quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock worth $1,215,955,000 after purchasing an additional 68,478,435 shares during the last quarter. Boston Partners raised its position in Huntington Bancshares by 3.9% during the 3rd quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock worth $1,091,615,000 after purchasing an additional 2,363,905 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Huntington Bancshares by 6.6% during the 4th quarter. Invesco Ltd. now owns 62,971,849 shares of the bank’s stock worth $1,092,562,000 after buying an additional 3,908,927 shares during the period. Institutional investors own 80.72% of the company’s stock.

Insider Activity

In other Huntington Bancshares news, Director James D. Rollins III sold 223,522 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the transaction, the director directly owned 612,155 shares in the company, valued at approximately $10,620,889.25. This represents a 26.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders purchased 33,500 shares of company stock worth $617,542. 0.67% of the stock is currently owned by corporate insiders.

Huntington Bancshares Stock Performance

HBAN stock opened at $16.86 on Friday. The stock has a 50-day moving average price of $16.40 and a 200-day moving average price of $16.86. Huntington Bancshares Incorporated has a 1-year low of $14.89 and a 1-year high of $19.45. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. The firm has a market cap of $34.18 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 0.77 and a beta of 0.94.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The company 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 company earned $0.34 EPS. As a group, equities research analysts expect that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.7%. Huntington Bancshares’s payout ratio is 47.69%.

Analyst Upgrades and Downgrades

A number of research firms have commented on HBAN. DA Davidson reduced their price target on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. Royal Bank Of Canada lowered their price objective on Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Jefferies Financial Group lifted their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Piper Sandler upgraded Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 target price on the stock in a report on Thursday, April 23rd. Finally, The Goldman Sachs Group lowered their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a report on Monday, April 6th. One investment 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average target price of $20.05.

Huntington Bancshares 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.