489,900 Shares in Huntington Bancshares Incorporated (NASDAQ:HBAN) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 4th quarter, Holdings Channel.com reports. The fund purchased 489,900 shares of the bank’s stock, valued at approximately $8,035,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Creative Capital Management Investments LLC raised its stake in shares of Huntington Bancshares by 17,533.3% in the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,578 shares during the period. Y.D. More Investments Ltd increased its holdings in Huntington Bancshares by 126.8% in the 4th quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,023 shares in the last quarter. Midwest Capital Advisors LLC purchased a new position in Huntington Bancshares in the fourth quarter valued at about $37,000. Asset Dedication LLC lifted its stake in shares of Huntington Bancshares by 70.0% during the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock worth $50,000 after purchasing an additional 1,260 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its position in shares of Huntington Bancshares by 27.2% in the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock worth $53,000 after buying an additional 702 shares during the period. 80.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HBAN has been the topic of several analyst reports. Stephens reiterated an “equal weight” rating and set a $18.50 target price on shares of Huntington Bancshares in a report on Friday, February 7th. Barclays lifted their price objective on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Piper Sandler decreased their target price on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research note on Tuesday, January 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price target on shares of Huntington Bancshares in a research note on Tuesday, January 21st. Finally, Truist Financial upped their price objective on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.18.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $15.35 on Tuesday. The stock has a market capitalization of $22.42 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. The business’s fifty day moving average price is $16.21 and its 200 day moving average price is $16.14. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a 12-month low of $12.05 and a 12-month high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 prior year, the company posted $0.27 EPS. Equities research analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.41%.

Insider Transactions at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 38,451 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.38, for a total value of $552,925.38. Following the sale, the chief financial officer now owns 335,538 shares of the company’s stock, valued at $4,825,036.44. This trade represents a 10.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott D. Kleinman sold 69,088 shares of Huntington Bancshares stock in a transaction dated 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 completion of the sale, the vice president now owns 453,129 shares in the company, valued at approximately $6,647,402.43. This represents a 13.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

About Huntington Bancshares

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.