Deutsche Bank AG boosted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 24.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,004,666 shares of the bank's stock after buying an additional 1,170,081 shares during the quarter. Deutsche Bank AG owned approximately 0.41% of Huntington Bancshares worth $97,696,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of HBAN. Norges Bank bought a new stake in shares of Huntington Bancshares in the 4th quarter valued at approximately $302,826,000. Raymond James Financial Inc. bought a new stake in Huntington Bancshares in the fourth quarter worth approximately $150,444,000. FMR LLC grew its position in Huntington Bancshares by 36.9% in the fourth quarter. FMR LLC now owns 32,479,039 shares of the bank's stock worth $528,434,000 after acquiring an additional 8,759,871 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Huntington Bancshares by 126.6% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,048,773 shares of the bank's stock worth $114,684,000 after purchasing an additional 3,938,769 shares during the last quarter. Finally, Amundi raised its holdings in shares of Huntington Bancshares by 26.7% during the 4th quarter. Amundi now owns 17,435,207 shares of the bank's stock valued at $286,460,000 after purchasing an additional 3,671,235 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company's stock.
Insider Buying and Selling at Huntington Bancshares
In related news, 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 transaction of $552,925.38. Following the completion of the sale, the chief financial officer now owns 335,538 shares in the company, valued at approximately $4,825,036.44. This represents a 10.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Helga Houston sold 42,345 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $14.72, for a total value of $623,318.40. Following the sale, the insider now directly owns 592,119 shares of the company's stock, valued at $8,715,991.68. This represents a 6.67% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 312,456 shares of company stock worth $4,464,105. 0.89% of the stock is owned by insiders.
Huntington Bancshares Trading Up 0.5%
Huntington Bancshares stock traded up $0.08 during trading hours on Friday, reaching $16.18. The company had a trading volume of 15,202,319 shares, compared to its average volume of 17,771,652. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The company has a 50-day moving average price of $14.46 and a 200 day moving average price of $15.97. The firm has a market cap of $23.63 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 1.33 and a beta of 0.89. Huntington Bancshares Incorporated has a 12-month low of $11.92 and a 12-month high of $18.45.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.89 billion. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same period last year, the company earned $0.27 EPS. Equities analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.
Huntington Bancshares declared that its Board of Directors has approved a share repurchase plan on Thursday, April 17th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the bank to repurchase up to 5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.
Huntington Bancshares Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend is Tuesday, June 17th. Huntington Bancshares's payout ratio is 47.33%.
Analyst Ratings Changes
HBAN has been the topic of a number of analyst reports. TD Cowen initiated coverage on Huntington Bancshares in a report on Thursday. They set a "buy" rating and a $20.00 price objective on the stock. Robert W. Baird raised shares of Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 price target on the stock in a research report on Friday, March 7th. Argus set a $17.00 price objective on shares of Huntington Bancshares in a research note on Friday, April 25th. Baird R W upgraded shares of Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Finally, Raymond James reiterated a "strong-buy" rating and issued a $18.00 target price (down previously from $20.00) on shares of Huntington Bancshares in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.58.
Check Out Our Latest Analysis on Huntington Bancshares
About Huntington Bancshares
(
Free Report)
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.
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