National Pension Service Has $48.30 Million Position in Huntington Bancshares Incorporated $HBAN

Key Points

• National Pension Service increased its Huntington Bancshares stake by 8.1% in the fourth quarter, ending with 2,783,961 shares worth about $48.3 million.
• Huntington Bancshares reported Q1 earnings of $0.37 per share, beating analysts’ expectations of $0.16, while revenue came in slightly above estimates at $2.59 billion.
• The bank declared a quarterly dividend of $0.155 per share, which annualizes to $0.62 and implies a 3.8% yield; analysts currently rate the stock a consensus “Moderate Buy” with an average target price of $20.05.

National Pension Service increased its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 8.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,783,961 shares of the bank's stock after purchasing an additional 207,798 shares during the quarter. National Pension Service owned approximately 0.18% of Huntington Bancshares worth $48,302,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Sagespring Wealth Partners LLC boosted its holdings in shares of Huntington Bancshares by 2.4% during the fourth quarter. Sagespring Wealth Partners LLC now owns 25,217 shares of the bank's stock worth $438,000 after purchasing an additional 587 shares during the period. Rehmann Capital Advisory Group boosted its holdings in shares of Huntington Bancshares by 4.3% during the third quarter. Rehmann Capital Advisory Group now owns 16,881 shares of the bank's stock worth $292,000 after purchasing an additional 694 shares during the period. Glenmede Investment Management LP boosted its holdings in shares of Huntington Bancshares by 1.7% during the third quarter. Glenmede Investment Management LP now owns 43,702 shares of the bank's stock worth $755,000 after purchasing an additional 728 shares during the period. Advisory Services Network LLC boosted its holdings in shares of Huntington Bancshares by 2.5% during the third quarter. Advisory Services Network LLC now owns 29,690 shares of the bank's stock worth $513,000 after purchasing an additional 737 shares during the period. Finally, Hill Island Financial LLC boosted its holdings in shares of Huntington Bancshares by 3.0% during the fourth quarter. Hill Island Financial LLC now owns 27,377 shares of the bank's stock worth $475,000 after purchasing an additional 803 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Prashant Nateri sold 10,171 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $15.50, for a total value of $157,650.50. Following the transaction, the insider owned 83,819 shares of the company's stock, valued at $1,299,194.50. This trade represents a 10.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Scott D. Kleinman sold 65,530 shares of Huntington Bancshares stock in a transaction that occurred on 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 completion of the transaction, the vice president directly owned 481,676 shares in the company, valued at approximately $7,360,009.28. This represents a 11.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have bought a total of 17,627 shares of company stock valued at $333,188 over the last 90 days. 0.67% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on HBAN. National Bank Financial set a $21.00 target price on shares of Huntington Bancshares in a research note on Wednesday, February 4th. Jefferies Financial Group lifted their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, April 24th. JPMorgan Chase & Co. reduced their target price on shares of Huntington Bancshares from $19.00 to $18.50 and set an "overweight" rating for the company in a research note on Thursday, April 30th. Wall Street Zen upgraded shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, DA Davidson reduced their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating for the company in a research note on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Huntington Bancshares presently has a consensus rating of "Moderate Buy" and an average target price of $20.05.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $16.36 on Monday. Huntington Bancshares Incorporated has a 12 month low of $14.89 and a 12 month high of $19.45. The firm has a market cap of $33.16 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 0.75 and a beta of 0.94. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. The company's 50 day moving average is $16.05 and its 200-day moving average is $16.77.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.21. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the firm posted $0.34 earnings per share. Equities analysts anticipate that Huntington Bancshares Incorporated will post 1.61 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be given a $0.155 dividend. 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 3.8%. Huntington Bancshares's dividend payout ratio (DPR) is currently 47.69%.

Huntington Bancshares Profile

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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