Commerzbank Aktiengesellschaft FI Invests $995,000 in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Commerzbank Aktiengesellschaft FI purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 66,240 shares of the bank's stock, valued at approximately $995,000.

Several other institutional investors also recently modified their holdings of the business. Invesco Ltd. grew its position in shares of Huntington Bancshares by 4.6% during the 4th quarter. Invesco Ltd. now owns 52,599,986 shares of the bank's stock worth $855,802,000 after buying an additional 2,310,502 shares during the period. FMR LLC grew its position in shares of Huntington Bancshares by 36.9% during the 4th quarter. FMR LLC now owns 32,479,039 shares of the bank's stock worth $528,434,000 after buying an additional 8,759,871 shares during the period. Victory Capital Management Inc. grew its position in shares of Huntington Bancshares by 9.2% during the 1st quarter. Victory Capital Management Inc. now owns 23,828,775 shares of the bank's stock worth $357,670,000 after buying an additional 2,003,683 shares during the period. Norges Bank acquired a new stake in shares of Huntington Bancshares during the 4th quarter worth approximately $302,826,000. Finally, Northern Trust Corp grew its position in shares of Huntington Bancshares by 18.4% during the 4th quarter. Northern Trust Corp now owns 14,422,723 shares of the bank's stock worth $234,658,000 after buying an additional 2,241,926 shares during the period. Institutional investors and hedge funds own 80.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on HBAN shares. Truist Financial boosted their price objective on shares of Huntington Bancshares from $18.00 to $19.00 and gave the company a "buy" rating in a report on Friday, June 13th. JPMorgan Chase & Co. decreased their price objective on shares of Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. TD Cowen started coverage on shares of Huntington Bancshares in a report on Thursday, May 15th. They set a "buy" rating and a $20.00 price objective for the company. Argus set a $17.00 price objective on shares of Huntington Bancshares in a report on Friday, April 25th. Finally, Jefferies Financial Group started coverage on shares of Huntington Bancshares in a report on Wednesday, May 21st. They set a "buy" rating and a $20.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Huntington Bancshares presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.48.

Huntington Bancshares Stock Down 1.6%

HBAN traded down $0.27 during trading hours on Friday, hitting $16.71. 50,149,545 shares of the company's stock were exchanged, compared to its average volume of 19,705,203. Huntington Bancshares Incorporated has a 1-year low of $11.92 and a 1-year high of $18.45. The stock's 50-day moving average is $16.28 and its two-hundred day moving average is $15.73. The stock has a market cap of $24.41 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 1.26 and a beta of 0.93. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.98.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its earnings results on Friday, July 18th. The bank reported $0.34 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.04). Huntington Bancshares had a return on equity of 11.44% and a net margin of 16.94%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the company posted $0.30 EPS. Sell-side analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.71%. Huntington Bancshares's payout ratio is 47.33%.

Huntington Bancshares announced that its Board of Directors has approved a share repurchase plan on Thursday, April 17th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the bank to buy up to 5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, insider Helga Houston sold 42,345 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $14.72, for a total value of $623,318.40. Following the completion of the sale, the insider owned 592,119 shares in the company, valued at $8,715,991.68. This trade represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Brantley J. Standridge sold 70,417 shares of the stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $13.69, for a total transaction of $964,008.73. Following the completion of the sale, the vice president owned 326,456 shares of the company's stock, valued at approximately $4,469,182.64. This represents a 17.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 214,375 shares of company stock valued at $3,049,277. 0.89% of the stock is owned by company insiders.

Huntington Bancshares 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.