Huntington Bancshares Incorporated (NASDAQ:HBAN) Stock Holdings Lifted by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. grew its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 11.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,132,335 shares of the bank's stock after buying an additional 113,300 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.08% of Huntington Bancshares worth $18,423,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in HBAN. Van Lanschot Kempen Investment Management N.V. raised its holdings in shares of Huntington Bancshares by 356.1% during the 4th 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 buying an additional 3,460,328 shares during the period. Transce3nd LLC purchased a new stake in shares of Huntington Bancshares during the fourth quarter valued at approximately $48,000. Natixis acquired a new position in shares of Huntington Bancshares during the fourth quarter worth $733,000. MetLife Investment Management LLC boosted its stake in shares of Huntington Bancshares by 1.8% in the fourth quarter. MetLife Investment Management LLC now owns 384,366 shares of the bank's stock valued at $6,254,000 after purchasing an additional 6,852 shares during the period. Finally, Norinchukin Bank The grew its holdings in Huntington Bancshares by 7.9% during the 4th quarter. Norinchukin Bank The now owns 63,613 shares of the bank's stock valued at $1,035,000 after purchasing an additional 4,683 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Raymond James reissued a "strong-buy" rating and issued a $18.00 price objective (down from $20.00) on shares of Huntington Bancshares in a research report on Monday, April 21st. Baird R W upgraded Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Truist Financial dropped their price objective on Huntington Bancshares from $21.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley decreased their price target on shares of Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Huntington Bancshares has a consensus rating of "Moderate Buy" and a consensus target price of $17.45.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock traded up $0.09 during trading on Thursday, hitting $14.62. 14,982,708 shares of the stock were exchanged, compared to its average volume of 22,360,895. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares Incorporated has a 12 month low of $11.91 and a 12 month high of $18.44. The stock's fifty day moving average is $14.49 and its 200 day moving average is $15.98. The stock has a market cap of $21.36 billion, a PE ratio of 11.89, a P/E/G ratio of 1.33 and a beta of 0.89.

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

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 4.24%. Huntington Bancshares's dividend payout ratio (DPR) is presently 47.33%.

Huntington Bancshares declared that its board has authorized a stock buyback plan on Thursday, April 17th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the bank to buy up to 5% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Insider Activity

In related news, VP Scott D. Kleinman sold 69,088 shares of the firm's stock in a transaction that occurred on 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 transaction, the vice president now owns 453,129 shares in the company, valued at $6,647,402.43. This trade represents a 13.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kendall A. Kowalski sold 3,434 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $14.50, for a total value of $49,793.00. Following the completion of the sale, the insider now owns 66,847 shares of the company's stock, valued at $969,281.50. This trade represents a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 211,051 shares of company stock valued at $2,992,685. Company insiders own 0.89% of the company's stock.

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.