abrdn plc Increases Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

abrdn plc lifted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 12.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,554,122 shares of the bank's stock after buying an additional 490,494 shares during the quarter. abrdn plc owned approximately 0.31% of Huntington Bancshares worth $57,928,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Wetzel Investment Advisors Inc. purchased a new stake in Huntington Bancshares during the fourth quarter valued at $29,000. Planned Solutions Inc. purchased a new stake in Huntington Bancshares during the fourth quarter valued at $33,000. Authentikos Wealth Advisory LLC purchased a new stake in Huntington Bancshares during the third quarter valued at $35,000. Baker Avenue Asset Management LP raised its stake in Huntington Bancshares by 31.8% during the third quarter. Baker Avenue Asset Management LP now owns 3,992 shares of the bank's stock valued at $42,000 after purchasing an additional 963 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Huntington Bancshares during the third quarter valued at $51,000. Hedge funds and other institutional investors own 80.72% of the company's stock.

Analysts Set New Price Targets

HBAN has been the topic of a number of analyst reports. Barclays upgraded shares of Huntington Bancshares from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $12.00 to $15.00 in a research report on Tuesday, January 2nd. StockNews.com cut shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a research report on Friday, December 29th. Stephens reiterated an "equal weight" rating and set a $15.00 price objective on shares of Huntington Bancshares in a research report on Monday. Keefe, Bruyette & Woods boosted their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company a "market perform" rating in a research report on Friday, April 5th. Finally, Royal Bank of Canada boosted their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company an "outperform" rating in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.17.

Insider Buying and Selling

In related news, Director Ann B. Crane sold 58,000 shares of the company's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $13.54, for a total value of $785,320.00. Following the completion of the sale, the director now directly owns 192,247 shares of the company's stock, valued at $2,603,024.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Huntington Bancshares news, VP Julie C. Tutkovics sold 15,541 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total transaction of $197,059.88. Following the completion of the sale, the vice president now directly owns 303,455 shares of the company's stock, valued at $3,847,809.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ann B. Crane sold 58,000 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $13.54, for a total transaction of $785,320.00. Following the sale, the director now directly owns 192,247 shares of the company's stock, valued at $2,603,024.38. The disclosure for this sale can be found here. Insiders sold a total of 102,241 shares of company stock valued at $1,360,359 over the last three months. 0.89% of the stock is owned by company insiders.

Huntington Bancshares Stock Up 1.9 %

NASDAQ:HBAN traded up $0.25 during mid-day trading on Monday, reaching $13.53. The company's stock had a trading volume of 22,915,963 shares, compared to its average volume of 17,897,676. Huntington Bancshares Incorporated has a 1 year low of $9.13 and a 1 year high of $14.07. The stock has a fifty day moving average of $13.29 and a 200-day moving average of $12.19. The firm has a market capitalization of $19.62 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 2.47 and a beta of 1.11. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings data on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.03. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. Equities research analysts forecast that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 4.58%. Huntington Bancshares's dividend payout ratio (DPR) is presently 55.86%.

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.