Toronto Dominion Bank lifted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 96.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,410,495 shares of the bank's stock after purchasing an additional 691,257 shares during the quarter. Toronto Dominion Bank owned 0.10% of Huntington Bancshares worth $22,949,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of HBAN. Blue Trust Inc. raised its stake in shares of Huntington Bancshares by 4.4% during the 4th quarter. Blue Trust Inc. now owns 21,887 shares of the bank's stock worth $356,000 after purchasing an additional 913 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Huntington Bancshares by 48.1% in the 4th quarter. Pacer Advisors Inc. now owns 160,578 shares of the bank's stock valued at $2,613,000 after acquiring an additional 52,185 shares in the last quarter. Asset Dedication LLC raised its stake in shares of Huntington Bancshares by 70.0% in the 4th quarter. Asset Dedication LLC now owns 3,061 shares of the bank's stock valued at $50,000 after acquiring an additional 1,260 shares in the last quarter. Smith Group Asset Management LLC bought a new position in shares of Huntington Bancshares in the 4th quarter valued at approximately $862,000. Finally, Foster Victor Wealth Advisors LLC raised its stake in shares of Huntington Bancshares by 0.6% in the 4th quarter. Foster Victor Wealth Advisors LLC now owns 428,014 shares of the bank's stock valued at $7,281,000 after acquiring an additional 2,758 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company's stock.
Insider Transactions at Huntington Bancshares
In other Huntington Bancshares news, insider Kendall A. Kowalski sold 25,419 shares of the firm's stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $13.68, for a total value of $347,731.92. Following the sale, the insider now owns 70,281 shares of the company's stock, valued at approximately $961,444.08. This trade represents a 26.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Brantley J. Standridge sold 70,417 shares of the firm's stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $13.69, for a total value of $964,008.73. Following the transaction, the vice president now directly owns 326,456 shares of the company's stock, valued at approximately $4,469,182.64. This represents a 17.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 312,456 shares of company stock worth $4,464,105. Company insiders own 0.89% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have issued reports on HBAN shares. Raymond James reaffirmed a "strong-buy" rating and issued a $18.00 target price (down previously from $20.00) on shares of Huntington Bancshares in a report on Monday, April 21st. JPMorgan Chase & Co. cut their target price on Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Morgan Stanley cut their target price on Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Truist Financial reduced their price objective 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. Finally, Keefe, Bruyette & Woods dropped their price objective on Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating for the company in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Huntington Bancshares presently has an average rating of "Moderate Buy" and a consensus price target of $17.83.
Get Our Latest Analysis on Huntington Bancshares
Huntington Bancshares Stock Down 0.5%
NASDAQ HBAN traded down $0.08 during trading hours on Friday, hitting $15.64. 25,570,575 shares of the company traded hands, compared to its average volume of 18,219,841. The business's 50-day moving average is $14.60 and its 200-day moving average is $15.88. Huntington Bancshares Incorporated has a twelve month low of $11.92 and a twelve month high of $18.45. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The stock has a market capitalization of $22.85 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 1.33 and a beta of 0.89.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.89 billion. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter in the prior year, the company earned $0.27 earnings per share. Sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.
Huntington Bancshares declared that its Board of Directors has authorized a share repurchase program on Thursday, April 17th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the bank to reacquire up to 5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.
Huntington Bancshares Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.96%. Huntington Bancshares's dividend payout ratio (DPR) is currently 47.33%.
About Huntington Bancshares
(
Free Report)
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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