Legal & General Group Plc Has $160.97 Million Stock Position in Huntington Bancshares Incorporated $HBAN

Legal & General Group Plc increased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,277,672 shares of the bank’s stock after purchasing an additional 57,385 shares during the quarter. Legal & General Group Plc owned approximately 0.59% of Huntington Bancshares worth $160,968,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Palisade Asset Management LLC bought a new stake in Huntington Bancshares during the 3rd quarter worth about $26,000. South Plains Financial Inc. grew its holdings in Huntington Bancshares by 116.3% during the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after acquiring an additional 826 shares during the last quarter. Accredited Wealth Management LLC grew its holdings in Huntington Bancshares by 374.5% during the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock worth $29,000 after acquiring an additional 1,322 shares during the last quarter. AlphaCore Capital LLC bought a new stake in Huntington Bancshares during the 3rd quarter worth about $33,000. Finally, Quest 10 Wealth Builders Inc. grew its holdings in Huntington Bancshares by 403.1% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 2,611 shares of the bank’s stock worth $45,000 after acquiring an additional 2,092 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Insider Activity

In other news, insider Prashant Nateri sold 10,171 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $15.50, for a total value of $157,650.50. Following the transaction, the insider owned 83,819 shares of the company’s stock, valued at approximately $1,299,194.50. This trade represents a 10.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Scott D. Kleinman sold 65,530 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $15.28, for a total transaction of $1,001,298.40. Following the completion of the transaction, the vice president directly owned 481,676 shares in the company, valued at $7,360,009.28. This trade represents a 11.98% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have acquired 25,000 shares of company stock valued at $503,822. 0.67% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Morgan Stanley decreased their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, April 24th. The Goldman Sachs Group decreased their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Piper Sandler raised shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price objective on the stock in a report on Thursday, April 23rd. National Bank Financial set a $21.00 price objective on shares of Huntington Bancshares in a report on Wednesday, February 4th. Finally, Wall Street Zen raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.05.

Huntington Bancshares Stock Down 0.2%

Shares of NASDAQ HBAN opened at $16.03 on Thursday. The firm has a market capitalization of $32.49 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 0.74 and a beta of 0.96. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. Huntington Bancshares Incorporated has a 1 year low of $14.89 and a 1 year high of $19.45. The firm’s 50-day moving average is $16.01 and its 200-day moving average is $16.77.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.21. The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same quarter last year, the firm earned $0.34 EPS. Equities analysts expect that Huntington Bancshares Incorporated will post 1.62 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently announced 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. This represents a $0.62 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) 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.