KLP Kapitalforvaltning AS Boosts Position in Huntington Bancshares Incorporated $HBAN

KLP Kapitalforvaltning AS raised its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.6% in the second quarter, Holdings Channel reports. The institutional investor owned 512,500 shares of the bank’s stock after buying an additional 22,600 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Huntington Bancshares were worth $8,657,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Teacher Retirement System of Texas grew its holdings in shares of Huntington Bancshares by 1,462.4% during the first quarter. Teacher Retirement System of Texas now owns 212,390 shares of the bank’s stock worth $3,188,000 after purchasing an additional 198,796 shares in the last quarter. Czech National Bank grew its holdings in shares of Huntington Bancshares by 6.6% during the second quarter. Czech National Bank now owns 356,096 shares of the bank’s stock worth $5,968,000 after purchasing an additional 22,190 shares in the last quarter. Trinity Financial Advisors LLC grew its holdings in shares of Huntington Bancshares by 1,497.1% during the second quarter. Trinity Financial Advisors LLC now owns 286,896 shares of the bank’s stock worth $4,853,000 after purchasing an additional 268,933 shares in the last quarter. Presper Financial Architects LLC purchased a new position in shares of Huntington Bancshares during the second quarter worth about $811,000. Finally, QRG Capital Management Inc. grew its holdings in shares of Huntington Bancshares by 11.9% during the first quarter. QRG Capital Management Inc. now owns 25,827 shares of the bank’s stock worth $388,000 after purchasing an additional 2,751 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

Shares of HBAN opened at $16.34 on Friday. The firm has a market cap of $23.84 billion, a P/E ratio of 12.10, a P/E/G ratio of 0.79 and a beta of 0.96. The stock has a 50 day simple moving average of $17.11 and a two-hundred day simple moving average of $16.06. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89. Huntington Bancshares Incorporated has a 1 year low of $11.91 and a 1 year high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Wednesday, June 11th. The bank reported $0.28 earnings per share for the quarter. Huntington Bancshares had a return on equity of 11.81% and a net margin of 17.36%.The firm had revenue of $469.00 million during the quarter. On average, analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 17th were given a $0.155 dividend. The ex-dividend date was Wednesday, September 17th. This represents a $0.62 annualized dividend and a yield of 3.8%. Huntington Bancshares’s payout ratio is presently 45.93%.

Insiders Place Their Bets

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 41,100 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $18.00, for a total value of $739,800.00. Following the completion of the sale, the executive vice president owned 299,361 shares in the company, valued at approximately $5,388,498. The trade was a 12.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HBAN. DA Davidson boosted their price objective on Huntington Bancshares from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Wolfe Research raised Huntington Bancshares from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Thursday, July 3rd. Deutsche Bank Aktiengesellschaft boosted their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Wall Street Zen lowered Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Sunday, July 13th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $21.00 target price (up previously from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average target price of $19.24.

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.