APG Asset Management N.V. Acquires New Shares in Huntington Bancshares Incorporated (NASDAQ:HBAN)

APG Asset Management N.V. acquired a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 794,800 shares of the bank’s stock, valued at approximately $12,488,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arvest Bank Trust Division bought a new position in shares of Huntington Bancshares during the third quarter valued at approximately $2,381,000. National Bank of Canada FI boosted its position in Huntington Bancshares by 220.9% during the 4th quarter. National Bank of Canada FI now owns 3,666,949 shares of the bank’s stock valued at $59,661,000 after acquiring an additional 2,524,077 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of Huntington Bancshares by 17.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 850,139 shares of the bank’s stock valued at $13,832,000 after acquiring an additional 129,106 shares during the period. Mediolanum International Funds Ltd bought a new position in shares of Huntington Bancshares in the 4th quarter worth $422,000. Finally, Donoghue Forlines LLC purchased a new stake in shares of Huntington Bancshares during the 4th quarter worth $1,460,000. 80.72% of the stock is currently owned by institutional investors.

Insider Activity at Huntington Bancshares

In related news, VP Brendan A. Lawlor sold 3,521 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $15.25, for a total value of $53,695.25. Following the completion of the transaction, the vice president now owns 47,950 shares of the company’s stock, valued at approximately $731,237.50. This represents a 6.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $1,013,520.96. Following the completion of the sale, the vice president now directly owns 453,129 shares in the company, valued at approximately $6,647,402.43. The trade was a 13.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,781 shares of company stock worth $1,631,151 in the last three months. Company insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on HBAN shares. Truist Financial boosted their target price on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Royal Bank of Canada reissued an “outperform” rating and set a $20.00 target price on shares of Huntington Bancshares in a research report on Tuesday, January 21st. Citigroup cut their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, March 24th. JPMorgan Chase & Co. decreased their price objective on Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. Finally, Piper Sandler dropped their target price on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $17.94.

Huntington Bancshares Price Performance

NASDAQ:HBAN opened at $12.89 on Friday. The firm’s fifty day moving average is $15.29 and its two-hundred day moving average is $16.06. The firm has a market cap of $18.83 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 1.33 and a beta of 0.89. Huntington Bancshares Incorporated has a one year low of $11.92 and a one year 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.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, topping the consensus estimate 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 quarter last year, the business earned $0.27 EPS. Research analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.81%. The ex-dividend date was Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is 50.41%.

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.