UniSuper Management Pty Ltd Raises Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

UniSuper Management Pty Ltd increased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1,078.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,315 shares of the bank’s stock after purchasing an additional 59,774 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Huntington Bancshares were worth $911,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Boston Partners raised its holdings in Huntington Bancshares by 59.3% in the 4th quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock worth $593,408,000 after purchasing an additional 17,365,446 shares during the period. Norges Bank purchased a new position in Huntington Bancshares in the fourth quarter worth approximately $206,703,000. Dimensional Fund Advisors LP boosted its position in shares of Huntington Bancshares by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,130,774 shares of the bank’s stock worth $192,473,000 after buying an additional 765,070 shares during the period. Raymond James & Associates boosted its position in shares of Huntington Bancshares by 3.1% during the first quarter. Raymond James & Associates now owns 7,403,303 shares of the bank’s stock worth $103,276,000 after buying an additional 225,911 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Huntington Bancshares by 39.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock valued at $83,124,000 after purchasing an additional 1,838,019 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Rajeev Syal sold 11,627 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $13.67, for a total value of $158,941.09. Following the completion of the sale, the vice president now owns 329,607 shares of the company’s stock, valued at $4,505,727.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Rajeev Syal sold 11,627 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $13.67, for a total value of $158,941.09. Following the transaction, the vice president now owns 329,607 shares in the company, valued at $4,505,727.69. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Helga Houston sold 7,278 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $13.64, for a total value of $99,271.92. Following the sale, the insider now owns 648,904 shares in the company, valued at approximately $8,851,050.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,881 shares of company stock valued at $844,003. Company insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Citigroup lifted their target price on Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday. Bank of America lifted their target price on Huntington Bancshares from $15.00 to $17.00 and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. decreased their target price on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a report on Thursday, June 27th. Piper Sandler raised their price target on Huntington Bancshares from $11.50 to $13.50 and gave the company an “underweight” rating in a research note on Monday. Finally, Stephens restated an “equal weight” rating and issued a $15.00 price target on shares of Huntington Bancshares in a research note on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.50.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN traded up $0.13 during trading on Thursday, hitting $15.05. 847,277 shares of the stock were exchanged, compared to its average volume of 17,416,318. The company has a fifty day moving average price of $13.41 and a two-hundred day moving average price of $13.28. The company has a market cap of $21.81 billion, a PE ratio of 13.44, a P/E/G ratio of 3.08 and a beta of 1.06. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. Huntington Bancshares Incorporated has a 12-month low of $9.25 and a 12-month high of $15.21.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, July 19th. The bank reported $0.30 EPS for the quarter, topping the consensus estimate of $0.28 by $0.02. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the previous year, the company earned $0.35 EPS. On average, analysts forecast that Huntington Bancshares Incorporated will post 1.19 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

About Huntington Bancshares

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.