Fjarde AP Fonden Fourth Swedish National Pension Fund Has $3.67 Million Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in Huntington Bancshares by 32.7%, now owning 244,463 shares valued at approximately $3.67 million.
• Invesco Ltd. increased its stake in Huntington Bancshares by 8.7%, highlighting a broader trend of institutional investment in the company, which is now owned by over 80% of institutional investors.
• Huntington Bancshares plans to pay a $0.155 quarterly dividend on October 1st, representing an annualized dividend yield of 3.7%.

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 32.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 244,463 shares of the bank's stock after selling 118,800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Huntington Bancshares were worth $3,669,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of HBAN. Invesco Ltd. boosted its position in Huntington Bancshares by 8.7% during the first quarter. Invesco Ltd. now owns 57,186,593 shares of the bank's stock valued at $858,371,000 after purchasing an additional 4,586,607 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Huntington Bancshares by 126.6% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,048,773 shares of the bank's stock valued at $114,684,000 after purchasing an additional 3,938,769 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. boosted its position in Huntington Bancshares by 356.1% during the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 4,432,186 shares of the bank's stock valued at $72,112,000 after purchasing an additional 3,460,328 shares during the last quarter. Nuveen LLC acquired a new stake in Huntington Bancshares during the first quarter valued at $50,078,000. Finally, Deutsche Bank AG boosted its position in Huntington Bancshares by 47.7% during the first quarter. Deutsche Bank AG now owns 8,870,393 shares of the bank's stock valued at $133,145,000 after purchasing an additional 2,865,727 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company's stock.

Insider Buying and Selling at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 13,700 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $15.79, for a total value of $216,323.00. Following the completion of the sale, the executive vice president directly owned 337,879 shares of the company's stock, valued at $5,335,109.41. The trade was a 3.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.89% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on HBAN shares. Truist Financial raised their target price on Huntington Bancshares from $18.00 to $19.00 and gave the company a "buy" rating in a report on Friday, June 13th. Royal Bank Of Canada cut their target price on Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Raymond James Financial restated a "strong-buy" rating and set a $21.00 target price (up from $18.00) on shares of Huntington Bancshares in a report on Tuesday, July 8th. TD Cowen started coverage on Huntington Bancshares in a report on Thursday, May 15th. They set a "buy" rating and a $20.00 target price on the stock. Finally, Argus set a $17.00 target price on Huntington Bancshares in a report on Friday, April 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.68.

Huntington Bancshares Trading Down 1.4%

Shares of HBAN stock opened at $16.57 on Friday. The firm has a market capitalization of $24.17 billion, a P/E ratio of 12.27, a P/E/G ratio of 0.85 and a beta of 0.93. Huntington Bancshares Incorporated has a twelve month low of $11.91 and a twelve month high of $18.44. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The stock's fifty day simple moving average is $16.55 and its 200 day simple moving average is $15.68.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 17th will be given a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.7%. Huntington Bancshares's dividend payout ratio (DPR) is 45.93%.

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.

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