Swedbank AB Makes New Investment in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Swedbank AB bought a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 395,303 shares of the bank’s stock, valued at approximately $5,514,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Boston Partners grew its holdings in shares of Huntington Bancshares by 59.3% in the 4th quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock worth $593,408,000 after acquiring an additional 17,365,446 shares during the period. Norges Bank purchased a new position in shares of Huntington Bancshares in the 4th quarter worth $206,703,000. Dimensional Fund Advisors LP raised its position in shares of Huntington Bancshares by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,130,774 shares of the bank’s stock worth $192,473,000 after buying an additional 765,070 shares during the period. Raymond James & Associates raised its position in shares of Huntington Bancshares by 3.1% in the 1st quarter. Raymond James & Associates now owns 7,403,303 shares of the bank’s stock worth $103,276,000 after buying an additional 225,911 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Huntington Bancshares by 39.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock valued at $83,124,000 after purchasing an additional 1,838,019 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Activity

In other news, CFO Zachary Jacob Wasserman sold 33,000 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the sale, the chief financial officer now owns 265,809 shares of the company’s stock, valued at $4,021,690.17. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Huntington Bancshares news, VP Nancy E. Maloney sold 57,537 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total value of $871,685.55. Following the transaction, the vice president now owns 69,595 shares in the company, valued at $1,054,364.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Zachary Jacob Wasserman sold 33,000 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the transaction, the chief financial officer now owns 265,809 shares in the company, valued at $4,021,690.17. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 123,900 shares of company stock valued at $1,862,176. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Performance

NASDAQ HBAN traded down $0.62 during trading hours on Friday, reaching $13.75. The company’s stock had a trading volume of 19,146,484 shares, compared to its average volume of 20,486,328. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The business has a 50-day simple moving average of $13.52 and a 200 day simple moving average of $13.37. Huntington Bancshares Incorporated has a 52 week low of $9.25 and a 52 week high of $15.24. The stock has a market cap of $19.97 billion, a PE ratio of 12.39, a PEG ratio of 2.94 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter last year, the company posted $0.35 earnings per share. Equities research analysts predict that Huntington Bancshares Incorporated will post 1.19 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.51%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Wall Street Analyst Weigh In

HBAN has been the subject of several recent research reports. Keefe, Bruyette & Woods lowered their price target on Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Evercore ISI lowered their price target on Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Piper Sandler increased their price target on Huntington Bancshares from $11.50 to $13.50 and gave the company an “underweight” rating in a report on Monday, July 22nd. Bank of America raised their target price on Huntington Bancshares from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, UBS Group lowered their target price on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, June 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average price target of $15.47.

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.