Korea Investment CORP Purchases 1,104,355 Shares of Huntington Bancshares Incorporated $HBAN

Korea Investment CORP grew its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 28.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,038,274 shares of the bank’s stock after buying an additional 1,104,355 shares during the quarter. Korea Investment CORP owned 0.32% of Huntington Bancshares worth $87,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Palisade Asset Management LLC bought a new position in shares of Huntington Bancshares during the 3rd quarter valued at $26,000. South Plains Financial Inc. lifted its holdings in shares of Huntington Bancshares by 116.3% during the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after buying an additional 826 shares during the period. Accredited Wealth Management LLC lifted its holdings in shares of Huntington Bancshares by 374.5% during the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after buying an additional 1,322 shares during the period. AlphaCore Capital LLC bought a new position in shares of Huntington Bancshares during the 3rd quarter valued at $33,000. Finally, Quest 10 Wealth Builders Inc. lifted its holdings in shares of Huntington Bancshares by 403.1% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 2,611 shares of the bank’s stock valued at $45,000 after buying an additional 2,092 shares during the period. 80.72% of the stock is owned by institutional investors.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, Director James D. Rollins III acquired 11,127 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was purchased at an average price of $16.50 per share, with a total value of $183,595.50. Following the completion of the purchase, the director directly owned 11,127 shares in the company, valued at approximately $183,595.50. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought a total of 33,500 shares of company stock valued at $617,542 over the last three months. Corporate insiders own 0.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Barclays cut Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. DA Davidson reduced their price target on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, March 16th. Truist Financial decreased their price objective on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Royal Bank Of Canada lowered their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Finally, JPMorgan Chase & Co. cut their price target on Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating for the company in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.10.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $17.52 on Friday. The firm has a market cap of $35.52 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 0.78 and a beta of 0.94. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average price of $16.29 and a 200-day moving average price of $16.83. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.21. The firm had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same quarter in the prior year, the company posted $0.34 earnings per share. As a group, equities research analysts predict that Huntington Bancshares Incorporated will post 1.61 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. Huntington Bancshares’s dividend payout ratio 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.