Board of the Pension Protection Fund Acquires New Position in Huntington Bancshares Incorporated $HBAN

Board of the Pension Protection Fund acquired a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the second quarter, Holdings Channel.com reports. The fund acquired 91,800 shares of the bank’s stock, valued at approximately $1,539,000. Huntington Bancshares accounts for approximately 1.7% of Board of the Pension Protection Fund’s portfolio, making the stock its 17th largest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its position in Huntington Bancshares by 129.8% in the first quarter. Farther Finance Advisors LLC now owns 28,301 shares of the bank’s stock worth $423,000 after acquiring an additional 15,984 shares in the last quarter. GAMMA Investing LLC grew its position in Huntington Bancshares by 6.4% in the first quarter. GAMMA Investing LLC now owns 42,196 shares of the bank’s stock worth $633,000 after acquiring an additional 2,540 shares in the last quarter. CX Institutional grew its position in Huntington Bancshares by 6.0% in the first quarter. CX Institutional now owns 20,337 shares of the bank’s stock worth $305,000 after acquiring an additional 1,145 shares in the last quarter. Fifth Third Bancorp grew its position in Huntington Bancshares by 41.1% in the first quarter. Fifth Third Bancorp now owns 125,450 shares of the bank’s stock worth $1,883,000 after acquiring an additional 36,546 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC grew its position in Huntington Bancshares by 54.2% in the first quarter. NorthCrest Asset Manangement LLC now owns 18,523 shares of the bank’s stock worth $278,000 after acquiring an additional 6,510 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on HBAN. JPMorgan Chase & Co. boosted their target price on shares of Huntington Bancshares from $18.00 to $18.50 and gave the stock an “overweight” rating in a research report on Friday. DA Davidson boosted their target price on shares of Huntington Bancshares from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Wolfe Research raised shares of Huntington Bancshares from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research report on Thursday, July 3rd. Raymond James Financial restated a “strong-buy” rating and issued a $21.00 price objective (up from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. Finally, Truist Financial boosted their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.37.

Insider Buying and Selling

In related news, EVP Marcy C. Hingst sold 41,100 shares of the company’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $18.00, for a total transaction of $739,800.00. Following the completion of the transaction, the executive vice president directly owned 299,361 shares in the company, valued at $5,388,498. This represents a 12.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.89% of the stock is currently owned by insiders.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock opened at $15.60 on Friday. The firm has a fifty day simple moving average of $17.10 and a 200-day simple moving average of $16.07. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.92. Huntington Bancshares Incorporated has a 1-year low of $11.91 and a 1-year high of $18.44. The stock has a market capitalization of $22.76 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 0.75 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Wednesday, June 11th. The bank reported $0.28 earnings per share for the quarter. The business had revenue of $469.00 million during the quarter. Huntington Bancshares had a net margin of 17.36% and a return on equity of 11.81%. On average, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th were paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.0%. The ex-dividend date was Wednesday, September 17th. Huntington Bancshares’s dividend payout ratio is presently 45.93%.

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.