DnB Asset Management AS Increases Stake in Huntington Bancshares Incorporated (HBAN)
DnB Asset Management AS grew its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 11.8% during the fourth quarter, HoldingsChannel reports. The firm owned 110,130 shares of the bank’s stock after purchasing an additional 11,600 shares during the quarter. DnB Asset Management AS’s holdings in Huntington Bancshares were worth $1,603,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Huntington Bancshares by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 109,990,274 shares of the bank’s stock valued at $1,487,068,000 after purchasing an additional 2,558,854 shares in the last quarter. Capital International Investors boosted its stake in shares of Huntington Bancshares by 13.2% during the 3rd quarter. Capital International Investors now owns 49,719,215 shares of the bank’s stock valued at $694,080,000 after purchasing an additional 5,800,000 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Huntington Bancshares by 20.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,364,805 shares of the bank’s stock valued at $167,172,000 after purchasing an additional 2,065,131 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Huntington Bancshares by 2.6% during the 3rd quarter. Legal & General Group Plc now owns 5,379,006 shares of the bank’s stock valued at $75,091,000 after purchasing an additional 137,799 shares in the last quarter. Finally, Prudential PLC boosted its stake in shares of Huntington Bancshares by 1.2% during the 2nd quarter. Prudential PLC now owns 4,680,600 shares of the bank’s stock valued at $63,282,000 after purchasing an additional 53,500 shares in the last quarter. 73.53% of the stock is currently owned by hedge funds and other institutional investors.
Huntington Bancshares Incorporated (HBAN) opened at $15.85 on Monday. Huntington Bancshares Incorporated has a 12-month low of $12.14 and a 12-month high of $15.85. The stock has a market cap of $17,130.00, a PE ratio of 19.10, a P/E/G ratio of 1.24 and a beta of 1.33. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.87 and a current ratio of 0.88.
Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Wednesday, October 25th. The bank reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Huntington Bancshares had a return on equity of 11.96% and a net margin of 20.76%. During the same period last year, the firm posted $0.11 earnings per share. equities analysts anticipate that Huntington Bancshares Incorporated will post 0.98 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 18th were issued a $0.11 dividend. The ex-dividend date was Friday, December 15th. This is a boost from Huntington Bancshares’s previous quarterly dividend of $0.08. This represents a $0.44 annualized dividend and a yield of 2.78%. Huntington Bancshares’s payout ratio is 38.55%.
A number of equities research analysts have recently weighed in on HBAN shares. Morgan Stanley lifted their target price on shares of Huntington Bancshares from $14.50 to $16.50 and gave the company an “equal weight” rating in a research note on Wednesday, December 13th. Nomura lifted their price target on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $14.25 price target on shares of Huntington Bancshares in a research report on Friday, October 13th. BidaskClub raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. Finally, BMO Capital Markets cut shares of Huntington Bancshares from an “outperform” rating to a “market perform” rating and set a $16.00 price target for the company. in a research report on Thursday, October 26th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Huntington Bancshares presently has an average rating of “Buy” and a consensus target price of $16.31.
In other Huntington Bancshares news, insider Helga Houston sold 14,513 shares of Huntington Bancshares stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $13.77, for a total value of $199,844.01. Following the completion of the transaction, the insider now directly owns 499,824 shares of the company’s stock, valued at $6,882,576.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Daniel J. Neumeyer sold 43,491 shares of Huntington Bancshares stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $13.88, for a total transaction of $603,655.08. Following the completion of the transaction, the executive vice president now directly owns 427,270 shares of the company’s stock, valued at $5,930,507.60. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.
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Huntington Bancshares Profile
Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.
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