Orion Portfolio Solutions LLC Acquires 83,523 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Orion Portfolio Solutions LLC grew its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 35.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 320,975 shares of the bank’s stock after purchasing an additional 83,523 shares during the period. Orion Portfolio Solutions LLC’s holdings in Huntington Bancshares were worth $5,222,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pictet Asset Management Holding SA grew its stake in shares of Huntington Bancshares by 17.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 850,139 shares of the bank’s stock worth $13,832,000 after buying an additional 129,106 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in Huntington Bancshares by 0.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 448,050 shares of the bank’s stock worth $7,290,000 after acquiring an additional 2,413 shares during the last quarter. Norges Bank acquired a new position in Huntington Bancshares in the 4th quarter worth about $302,826,000. Caisse Des Depots ET Consignations bought a new position in Huntington Bancshares in the fourth quarter valued at about $5,659,000. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of Huntington Bancshares during the fourth quarter valued at about $70,000. 80.72% of the stock is owned by institutional investors.

Huntington Bancshares Trading Down 2.2 %

HBAN opened at $14.79 on Friday. The company has a fifty day moving average price of $16.07 and a two-hundred day moving average price of $16.14. Huntington Bancshares Incorporated has a 1-year low of $12.05 and a 1-year high of $18.45. The company has a market cap of $21.60 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same period last year, the business posted $0.27 earnings per share. Analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on HBAN shares. Piper Sandler dropped their price objective on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a report on Tuesday, January 21st. Truist Financial lifted their price target on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Citigroup decreased their price objective on Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating for the company in a report on Monday, March 24th. Barclays lifted their target price on Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 price target on shares of Huntington Bancshares in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.18.

Insider Activity at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 69,088 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the transaction, the vice president now owns 453,129 shares in the company, valued at $6,647,402.43. This trade represents a 13.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 111,781 shares of company stock valued at $1,631,151. 0.89% of the stock is owned by company insiders.

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.