DNB Asset Management AS Acquires 19,289 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

DNB Asset Management AS lifted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 9.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 233,567 shares of the bank’s stock after buying an additional 19,289 shares during the period. DNB Asset Management AS’s holdings in Huntington Bancshares were worth $3,078,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. State of Alaska Department of Revenue increased its holdings in shares of Huntington Bancshares by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 157,152 shares of the bank’s stock worth $2,192,000 after buying an additional 780 shares during the last quarter. Park Avenue Securities LLC boosted its stake in shares of Huntington Bancshares by 1.3% during the 1st quarter. Park Avenue Securities LLC now owns 63,098 shares of the bank’s stock worth $880,000 after purchasing an additional 794 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its stake in shares of Huntington Bancshares by 6.5% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 13,261 shares of the bank’s stock worth $185,000 after purchasing an additional 805 shares during the period. Arkadios Wealth Advisors boosted its stake in shares of Huntington Bancshares by 4.7% during the 1st quarter. Arkadios Wealth Advisors now owns 17,930 shares of the bank’s stock worth $250,000 after purchasing an additional 811 shares during the period. Finally, Mather Group LLC. boosted its stake in shares of Huntington Bancshares by 5.8% during the 4th quarter. Mather Group LLC. now owns 15,391 shares of the bank’s stock worth $196,000 after purchasing an additional 837 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Huntington Bancshares news, VP Nancy E. Maloney sold 57,537 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total transaction of $871,685.55. Following the transaction, the vice president now owns 69,595 shares in the company, valued at approximately $1,054,364.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Helga Houston sold 7,278 shares of the company’s stock in a transaction 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 directly owns 648,904 shares of the company’s stock, valued at approximately $8,851,050.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Nancy E. Maloney sold 57,537 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total transaction of $871,685.55. Following the completion of the sale, the vice president now directly owns 69,595 shares in the company, valued at $1,054,364.25. The disclosure for this sale can be found here. Insiders sold a total of 123,900 shares of company stock worth $1,862,176 in the last 90 days. 0.89% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Piper Sandler lifted their price target on shares of Huntington Bancshares from $11.50 to $13.50 and gave the stock an “underweight” rating in a research note on Monday, July 22nd. Bank of America boosted their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Baird R W cut shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods lowered their price objective on shares of Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Finally, Robert W. Baird cut shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $15.59.

Huntington Bancshares Stock Up 1.0 %

Shares of NASDAQ HBAN traded up $0.13 during trading hours on Tuesday, hitting $13.41. 15,344,655 shares of the stock were exchanged, compared to its average volume of 17,511,447. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. The company has a market cap of $19.43 billion, a PE ratio of 11.96, a PEG ratio of 2.94 and a beta of 1.06. The firm has a fifty day moving average price of $13.51 and a 200-day moving average price of $13.40. Huntington Bancshares Incorporated has a 12 month low of $9.25 and a 12 month high of $15.24.

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

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be paid a dividend of $0.155 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.62%. 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.