KLP Kapitalforvaltning AS Purchases 22,600 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• KLP Kapitalforvaltning AS increased its stake in Huntington Bancshares by 4.6%, acquiring an additional 22,600 shares, bringing its holdings to 512,500 shares valued at $8.65 million.
• The bank reported earnings of $0.28 per share for the last quarter, with a net margin of 17.36% and a return on equity of 11.81%.
• Recent analyst ratings suggest a positive outlook for Huntington Bancshares, with target prices ranging from $18.00 to $22.00 and a majority rating of "Buy".

KLP Kapitalforvaltning AS raised its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 4.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 512,500 shares of the bank's stock after acquiring an additional 22,600 shares during the period. KLP Kapitalforvaltning AS's holdings in Huntington Bancshares were worth $8,657,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of HBAN. Family Legacy Financial Solutions LLC bought a new position in Huntington Bancshares during the 2nd quarter valued at $25,000. Smallwood Wealth Investment Management LLC bought a new position in Huntington Bancshares during the 1st quarter valued at $29,000. Quarry LP lifted its stake in Huntington Bancshares by 73.0% during the 1st quarter. Quarry LP now owns 1,929 shares of the bank's stock valued at $29,000 after acquiring an additional 814 shares in the last quarter. LFA Lugano Financial Advisors SA bought a new position in Huntington Bancshares during the 1st quarter valued at $31,000. Finally, Golden State Wealth Management LLC lifted its stake in Huntington Bancshares by 516.3% during the 1st quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock valued at $33,000 after acquiring an additional 1,869 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $16.34 on Friday. The business has a 50-day moving average of $17.11 and a 200 day moving average of $16.06. Huntington Bancshares Incorporated has a fifty-two week low of $11.91 and a fifty-two week high of $18.44. The firm has a market cap of $23.84 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 0.79 and a beta of 0.96. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.89.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings data on Wednesday, June 11th. The bank reported $0.28 earnings per share for the quarter. Huntington Bancshares had a return on equity of 11.81% and a net margin of 17.36%.The company had revenue of $469.00 million during the quarter. As a group, research analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th were issued a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, September 17th. This represents a $0.62 annualized dividend and a yield of 3.8%. Huntington Bancshares's dividend payout ratio (DPR) is 45.93%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HBAN. DA Davidson raised their price objective on Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Jefferies Financial Group lifted their target price on Huntington Bancshares from $21.00 to $22.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Huntington Bancshares in a research note on Wednesday. Raymond James Financial reiterated a "strong-buy" rating and set a $21.00 target price (up from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. Finally, Wolfe Research upgraded Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 target price on the stock in a research note on Thursday, July 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $19.24.

Insiders Place Their Bets

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 41,100 shares of Huntington Bancshares stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $18.00, for a total transaction of $739,800.00. Following the completion of the transaction, the executive vice president owned 299,361 shares of the company's stock, valued at $5,388,498. The trade was a 12.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.89% of the company's stock.

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.

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