Huntington Bancshares Incorporated (NASDAQ:HBAN) Holdings Raised by Czech National Bank

Czech National Bank grew its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 333,906 shares of the bank’s stock after purchasing an additional 18,907 shares during the period. Czech National Bank’s holdings in Huntington Bancshares were worth $5,012,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of Huntington Bancshares by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank’s stock worth $1,056,353,000 after purchasing an additional 2,218,020 shares during the period. Invesco Ltd. lifted its position in Huntington Bancshares by 4.6% in the 4th quarter. Invesco Ltd. now owns 52,599,986 shares of the bank’s stock worth $855,802,000 after buying an additional 2,310,502 shares in the last quarter. FMR LLC boosted its stake in shares of Huntington Bancshares by 36.9% during the 4th quarter. FMR LLC now owns 32,479,039 shares of the bank’s stock valued at $528,434,000 after buying an additional 8,759,871 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Huntington Bancshares by 7.4% during the 4th quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank’s stock valued at $355,094,000 after acquiring an additional 1,506,606 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Huntington Bancshares during the 4th quarter valued at $302,826,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Huntington Bancshares

In related news, insider Helga Houston sold 42,345 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $14.72, for a total value of $623,318.40. Following the completion of the transaction, the insider now directly owns 592,119 shares in the company, valued at approximately $8,715,991.68. This represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kendall A. Kowalski sold 25,419 shares of the firm’s stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $13.68, for a total value of $347,731.92. Following the completion of the transaction, the insider now directly owns 70,281 shares of the company’s stock, valued at approximately $961,444.08. This trade represents a 26.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 312,456 shares of company stock valued at $4,464,105 in the last quarter. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Trading Up 2.1%

Shares of HBAN stock opened at $15.91 on Wednesday. The firm has a market capitalization of $23.24 billion, a P/E ratio of 12.93, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. Huntington Bancshares Incorporated has a 1 year low of $11.92 and a 1 year high of $18.45. The firm’s fifty day simple moving average is $14.63 and its 200 day simple moving average is $15.87. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the business posted $0.27 EPS. As a group, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares declared that its board has initiated a stock buyback program on Thursday, April 17th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the bank to buy up to 5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be paid a dividend of $0.155 per share. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.90%. Huntington Bancshares’s dividend payout ratio is 47.33%.

Analysts Set New Price Targets

A number of analysts recently issued reports on HBAN shares. Robert W. Baird raised Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price objective for the company in a research report on Friday, March 7th. Citigroup reduced their price target on Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating for the company in a report on Monday, March 24th. TD Cowen began coverage on Huntington Bancshares in a research note on Thursday, May 15th. They issued a “buy” rating and a $20.00 price target for the company. Jefferies Financial Group assumed coverage on shares of Huntington Bancshares in a research report on Wednesday, May 21st. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Morgan Stanley decreased their target price on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.83.

Huntington Bancshares Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.