National Bank of Canada FI Increases Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

National Bank of Canada FI raised its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 220.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,666,949 shares of the bank’s stock after buying an additional 2,524,077 shares during the quarter. National Bank of Canada FI owned about 0.25% of Huntington Bancshares worth $59,661,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of HBAN. State Street Corp boosted its holdings in Huntington Bancshares by 10.3% in the 3rd quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock valued at $1,179,319,000 after purchasing an additional 7,439,909 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Huntington Bancshares by 3.5% in 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 acquiring an additional 2,218,020 shares during the period. Geode Capital Management LLC increased its stake in Huntington Bancshares by 1.3% during the third quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock worth $540,422,000 after acquiring an additional 473,893 shares during the last quarter. Victory Capital Management Inc. raised its position in Huntington Bancshares by 7.4% in the fourth quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank’s stock valued at $355,094,000 after purchasing an additional 1,506,606 shares during the period. Finally, Norges Bank purchased a new position in shares of Huntington Bancshares during the 4th quarter worth $302,826,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Price Performance

HBAN stock opened at $14.95 on Wednesday. The business has a 50 day moving average price of $15.99 and a 200 day moving average price of $16.17. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The stock has a market cap of $21.84 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 1.33 and a beta of 1.07. Huntington Bancshares Incorporated has a fifty-two week low of $12.05 and a fifty-two week high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating 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%. During the same period in the previous year, the business posted $0.27 earnings per share. Equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend was Tuesday, March 18th. Huntington Bancshares’s payout ratio is 50.41%.

Analyst Upgrades and Downgrades

HBAN has been the topic of several recent analyst reports. Stephens restated an “equal weight” rating and issued a $18.50 price objective on shares of Huntington Bancshares in a report on Friday, February 7th. Citigroup lowered their price target on Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods increased their target price on Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Barclays lifted their target price on Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.18.

Insider Transactions at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 69,088 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the transaction, the vice president now directly owns 453,129 shares in the company, valued at approximately $6,647,402.43. This trade represents a 13.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brendan A. Lawlor sold 3,521 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $15.25, for a total transaction of $53,695.25. Following the completion of the sale, the vice president now owns 47,950 shares of the company’s stock, valued at approximately $731,237.50. This trade represents a 6.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,781 shares of company stock worth $1,631,151. Corporate insiders own 0.89% of the company’s stock.

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.