Huntington Bancshares Incorporated (NASDAQ:HBAN) Position Boosted by Toronto Dominion Bank

Toronto Dominion Bank increased its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 96.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,410,495 shares of the bank's stock after purchasing an additional 691,257 shares during the period. Toronto Dominion Bank owned 0.10% of Huntington Bancshares worth $22,949,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Carlson Capital Management raised its position in shares of Huntington Bancshares by 0.4% during the 4th quarter. Carlson Capital Management now owns 163,575 shares of the bank's stock worth $2,661,000 after purchasing an additional 692 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Huntington Bancshares by 6.0% during the 4th quarter. Farther Finance Advisors LLC now owns 12,317 shares of the bank's stock worth $200,000 after purchasing an additional 699 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of Huntington Bancshares by 27.2% during the 4th quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank's stock worth $53,000 after purchasing an additional 702 shares during the last quarter. CreativeOne Wealth LLC grew its stake in Huntington Bancshares by 4.0% in the 4th quarter. CreativeOne Wealth LLC now owns 20,019 shares of the bank's stock worth $326,000 after acquiring an additional 762 shares during the period. Finally, Lantz Financial LLC lifted its stake in shares of Huntington Bancshares by 6.1% during the 4th quarter. Lantz Financial LLC now owns 13,766 shares of the bank's stock worth $224,000 after purchasing an additional 790 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Stock Down 0.7%

NASDAQ HBAN traded down $0.11 during trading hours on Friday, hitting $15.32. The company had a trading volume of 25,782,903 shares, compared to its average volume of 18,043,730. Huntington Bancshares Incorporated has a fifty-two week low of $11.92 and a fifty-two week high of $18.45. The company has a market capitalization of $22.38 billion, a price-to-earnings ratio of 12.46, a P/E/G ratio of 1.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The firm's 50 day moving average is $14.56 and its 200 day moving average is $15.96.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the firm earned $0.27 EPS. Sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 annualized dividend and a yield of 4.05%. Huntington Bancshares's dividend payout ratio is currently 47.33%.

Huntington Bancshares declared that its board has authorized 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 purchase up to 5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on HBAN shares. Deutsche Bank Aktiengesellschaft raised Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 price target on the stock in a research note on Thursday, April 24th. Morgan Stanley reduced their price target on Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Baird R W raised Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Royal Bank of Canada reduced their price target on Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Finally, Truist Financial reduced their price target on Huntington Bancshares from $21.00 to $17.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $17.83.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, VP Brantley J. Standridge sold 70,417 shares of the company's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $13.69, for a total value of $964,008.73. Following the completion of the transaction, the vice president now directly owns 326,456 shares of the company's stock, valued at $4,469,182.64. This represents a 17.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Scott D. Kleinman sold 69,088 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the completion of the transaction, the vice president now directly owns 453,129 shares of the company's stock, valued at approximately $6,647,402.43. The trade was a 13.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 312,456 shares of company stock worth $4,464,105. Corporate 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.