Canada Post Corp Registered Pension Plan Raises Position in Huntington Bancshares Incorporated $HBAN

Key Points

• Canada Post Corp Registered Pension Plan boosted its stake in Huntington Bancshares by 435.2% in the fourth quarter, ending with 151,744 shares valued at about $2.63 million.
• Huntington Bancshares reported strong quarterly results, posting EPS of $0.37 versus analyst expectations of $0.16 and revenue of $2.59 billion, slightly above estimates.
• The bank declared a quarterly dividend of $0.155 per share, which annualizes to $0.62 and implies a 4.0% yield.

Canada Post Corp Registered Pension Plan increased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 435.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 151,744 shares of the bank's stock after purchasing an additional 123,389 shares during the quarter. Canada Post Corp Registered Pension Plan's holdings in Huntington Bancshares were worth $2,633,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Palisade Asset Management LLC purchased a new position in Huntington Bancshares in the 3rd quarter worth $26,000. South Plains Financial Inc. raised its holdings in Huntington Bancshares by 116.3% during the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank's stock valued at $27,000 after buying an additional 826 shares during the last quarter. Accredited Wealth Management LLC raised its holdings in Huntington Bancshares by 374.5% during the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank's stock valued at $29,000 after buying an additional 1,322 shares during the last quarter. Grey Fox Wealth Advisors LLC bought a new stake in Huntington Bancshares during the 3rd quarter valued at $31,000. Finally, AlphaCore Capital LLC bought a new stake in Huntington Bancshares during the 3rd quarter valued at $33,000. Hedge funds and other institutional investors own 80.72% of the company's stock.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $15.41 on Monday. The company has a 50-day moving average price of $16.01 and a 200-day moving average price of $16.74. The stock has a market cap of $31.24 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 0.71 and a beta of 0.96. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. Huntington Bancshares Incorporated has a 12 month low of $14.89 and a 12 month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.21. The firm had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same quarter in the previous year, the firm posted $0.34 EPS. Equities analysts predict that Huntington Bancshares Incorporated will post 1.62 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.0%. Huntington Bancshares's payout ratio is presently 47.69%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Piper Sandler upgraded shares of Huntington Bancshares from a "strong sell" rating to a "hold" rating and set a $18.00 price target for the company in a report on Thursday, April 23rd. Keefe, Bruyette & Woods lowered their price target on shares of Huntington Bancshares from $20.00 to $19.50 and set a "market perform" rating for the company in a report on Friday, January 23rd. National Bank Financial set a $21.00 price target on shares of Huntington Bancshares in a report on Wednesday, February 4th. Wall Street Zen upgraded shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Finally, The Goldman Sachs Group lowered their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating for the company in a report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $20.05.

Insider Activity at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 65,530 shares of Huntington Bancshares stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $15.28, for a total transaction of $1,001,298.40. Following the sale, the vice president owned 481,676 shares of the company's stock, valued at approximately $7,360,009.28. The trade was a 11.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Prashant Nateri sold 10,171 shares of Huntington Bancshares stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $15.50, for a total transaction of $157,650.50. Following the sale, the insider directly owned 83,819 shares in the company, valued at $1,299,194.50. The trade was a 10.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders bought 39,200 shares of company stock worth $756,724. 0.67% of the stock is currently owned by company insiders.

About Huntington Bancshares

Huntington Bancshares Incorporated NASDAQ: HBAN is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company's operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington's product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.

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