Huntington Bancshares Incorporated $HBAN Holdings Raised by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 7.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 43,171,993 shares of the bank’s stock after acquiring an additional 3,074,673 shares during the quarter. Geode Capital Management LLC’s holdings in Huntington Bancshares were worth $746,257,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Altrius Capital Management Inc purchased a new stake in Huntington Bancshares in the 3rd quarter worth approximately $4,894,000. Midwest Trust Co raised its holdings in shares of Huntington Bancshares by 12.7% during the 3rd quarter. Midwest Trust Co now owns 1,510,977 shares of the bank’s stock valued at $26,095,000 after purchasing an additional 170,240 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Huntington Bancshares by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 176,980,819 shares of the bank’s stock valued at $3,056,459,000 after purchasing an additional 680,601 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Huntington Bancshares by 3.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,238,142 shares of the bank’s stock valued at $159,543,000 after purchasing an additional 314,544 shares in the last quarter. Finally, Fieldview Capital Management LLC raised its holdings in shares of Huntington Bancshares by 15.9% during the 3rd quarter. Fieldview Capital Management LLC now owns 478,852 shares of the bank’s stock valued at $8,270,000 after purchasing an additional 65,828 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on HBAN shares. Truist Financial cut their price target 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. DA Davidson cut their price target 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. Royal Bank Of Canada cut their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. National Bank Financial set a $21.00 price target on shares of Huntington Bancshares in a report on Wednesday, February 4th. Finally, Piper Sandler upgraded shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price target on the stock in a report on Thursday, April 23rd. One 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.05.

Insider Buying and Selling

In related news, insider Prashant Nateri sold 10,171 shares of Huntington Bancshares stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $15.50, for a total value of $157,650.50. Following the transaction, the insider owned 83,819 shares in the company, valued at $1,299,194.50. This trade represents a 10.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Scott D. Kleinman sold 65,530 shares of Huntington Bancshares stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $15.28, for a total transaction of $1,001,298.40. Following the completion of the transaction, the vice president owned 481,676 shares in the company, valued at $7,360,009.28. This trade represents a 11.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have bought 18,127 shares of company stock worth $343,888 in the last quarter. 0.67% of the stock is currently owned by company insiders.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $16.36 on Friday. The company has a market capitalization of $33.16 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 0.75 and a beta of 0.96. Huntington Bancshares Incorporated has a one year low of $14.89 and a one year high of $19.45. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. The company’s fifty day moving average price is $16.05 and its 200 day moving average price is $16.77.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.16 by $0.21. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same quarter last year, the firm posted $0.34 EPS. As a group, analysts expect that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.8%. The ex-dividend date is Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is 47.69%.

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.