Pictet Asset Management Holding SA Raises Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Pictet Asset Management Holding SA lifted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 17.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 850,139 shares of the bank's stock after acquiring an additional 129,106 shares during the quarter. Pictet Asset Management Holding SA owned 0.06% of Huntington Bancshares worth $13,832,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in HBAN. Norges Bank purchased a new position in shares of Huntington Bancshares during the fourth quarter worth $302,826,000. Raymond James Financial Inc. purchased a new position in Huntington Bancshares during the 4th quarter valued at about $150,444,000. State Street Corp boosted its holdings in Huntington Bancshares by 10.3% during the 3rd quarter. State Street Corp now owns 79,474,115 shares of the bank's stock valued at $1,179,319,000 after acquiring an additional 7,439,909 shares during the period. Amundi increased its stake in Huntington Bancshares by 26.7% during the fourth quarter. Amundi now owns 17,435,207 shares of the bank's stock worth $286,460,000 after purchasing an additional 3,671,235 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Huntington Bancshares by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank's stock worth $1,056,353,000 after purchasing an additional 2,218,020 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company's stock.

Huntington Bancshares Stock Performance

Shares of HBAN traded down $0.86 during midday trading on Friday, reaching $12.60. 28,687,049 shares of the stock were exchanged, compared to its average volume of 17,069,008. The company has a market capitalization of $18.41 billion, a price-to-earnings ratio of 10.24, a PEG 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. Huntington Bancshares Incorporated has a twelve month low of $12.05 and a twelve month high of $18.45. The business's 50-day moving average price is $15.79 and its 200 day moving average price is $16.15.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same period in the previous year, the company earned $0.27 earnings per share. On average, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were paid a $0.155 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 4.92%. Huntington Bancshares's dividend payout ratio is presently 50.41%.

Analyst Ratings Changes

A number of research analysts recently weighed in on HBAN shares. Citigroup dropped their price objective on shares of Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating for the company in a report on Monday, March 24th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $20.00 price objective on shares of Huntington Bancshares in a research report on Tuesday, January 21st. Stephens reiterated an "equal weight" rating and issued a $18.50 target price on shares of Huntington Bancshares in a report on Friday, February 7th. Piper Sandler cut their price target on Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating on the stock in a report on Tuesday, January 21st. Finally, Morgan Stanley decreased their price objective on Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $17.94.

Insider Activity

In other Huntington Bancshares news, VP Brendan A. Lawlor sold 3,521 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $15.25, for a total transaction of $53,695.25. Following the completion of the transaction, the vice president now owns 47,950 shares in the company, valued at approximately $731,237.50. This represents a 6.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of Huntington Bancshares stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.38, for a total transaction of $552,925.38. Following the completion of the sale, the chief financial officer now directly owns 335,538 shares in the company, valued at approximately $4,825,036.44. The trade was a 10.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,781 shares of company stock valued at $1,631,151. Insiders own 0.89% of the company's stock.

Huntington Bancshares Company 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.