National Bank of Canada FI Purchases 2,979,768 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

National Bank of Canada FI lifted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 832.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,337,625 shares of the bank’s stock after purchasing an additional 2,979,768 shares during the quarter. National Bank of Canada FI’s holdings in Huntington Bancshares were worth $46,927,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. State of Alaska Department of Revenue raised its position 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 valued at $2,192,000 after purchasing an additional 780 shares during the last quarter. Park Avenue Securities LLC lifted its stake in Huntington Bancshares by 1.3% during the 1st quarter. Park Avenue Securities LLC now owns 63,098 shares of the bank’s stock valued at $880,000 after acquiring an additional 794 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its stake in Huntington Bancshares by 6.5% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 13,261 shares of the bank’s stock valued at $185,000 after acquiring an additional 805 shares during the period. Arkadios Wealth Advisors lifted its stake in Huntington Bancshares by 4.7% during the 1st quarter. Arkadios Wealth Advisors now owns 17,930 shares of the bank’s stock valued at $250,000 after acquiring an additional 811 shares during the period. Finally, Mather Group LLC. lifted its stake in Huntington Bancshares by 5.8% during the 4th quarter. Mather Group LLC. now owns 15,391 shares of the bank’s stock valued at $196,000 after acquiring an additional 837 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Price Performance

NASDAQ HBAN traded down $0.15 on Wednesday, hitting $14.92. The company had a trading volume of 22,372,891 shares, compared to its average volume of 17,533,826. The company has a market capitalization of $21.62 billion, a PE ratio of 13.44, a PEG ratio of 3.85 and a beta of 1.06. The company’s fifty day moving average price is $13.41 and its 200-day moving average price is $13.28. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a 12-month low of $9.25 and a 12-month high of $15.21.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, July 19th. The bank reported $0.30 EPS for the quarter, topping the consensus estimate of $0.28 by $0.02. The company 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 firm earned $0.35 EPS. As a group, analysts predict that Huntington Bancshares Incorporated will post 1.17 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.16%. The ex-dividend date is Tuesday, September 17th. Huntington Bancshares’s payout ratio is presently 55.86%.

Insider Transactions at Huntington Bancshares

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 transaction of $99,271.92. Following the completion of the sale, the insider now owns 648,904 shares of the company’s stock, valued at $8,851,050.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $99,271.92. Following the completion of the sale, the insider now owns 648,904 shares of the company’s stock, valued at $8,851,050.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Rajeev Syal sold 11,627 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $13.67, for a total transaction of $158,941.09. Following the sale, the vice president now directly owns 329,607 shares of the company’s stock, valued at approximately $4,505,727.69. The disclosure for this sale can be found here. Insiders sold 61,881 shares of company stock valued at $844,003 over the last 90 days. 0.89% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on HBAN shares. Royal Bank of Canada lifted their price objective on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Monday. Argus lifted their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Monday. UBS Group decreased their price objective on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, June 13th. Keefe, Bruyette & Woods decreased 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 note on Tuesday, July 9th. Finally, Piper Sandler lifted their price objective on shares of Huntington Bancshares from $11.50 to $13.50 and gave the company an “underweight” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.50.

Huntington Bancshares Company 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.