Eurizon Capital SGR S.p.A. Makes New Investment in Huntington Bancshares Incorporated $HBAN

Eurizon Capital SGR S.p.A. bought a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the fourth quarter, HoldingsChannel.com reports. The firm bought 2,158,194 shares of the bank’s stock, valued at approximately $37,446,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sagespring Wealth Partners LLC boosted its holdings in Huntington Bancshares by 2.4% during the fourth quarter. Sagespring Wealth Partners LLC now owns 25,217 shares of the bank’s stock worth $438,000 after buying an additional 587 shares during the last quarter. Rehmann Capital Advisory Group boosted its holdings in Huntington Bancshares by 4.3% during the third quarter. Rehmann Capital Advisory Group now owns 16,881 shares of the bank’s stock worth $292,000 after buying an additional 694 shares during the last quarter. Glenmede Investment Management LP boosted its holdings in Huntington Bancshares by 1.7% during the third quarter. Glenmede Investment Management LP now owns 43,702 shares of the bank’s stock worth $755,000 after buying an additional 728 shares during the last quarter. Advisory Services Network LLC boosted its holdings in Huntington Bancshares by 2.5% during the third quarter. Advisory Services Network LLC now owns 29,690 shares of the bank’s stock worth $513,000 after buying an additional 737 shares during the last quarter. Finally, Hill Island Financial LLC lifted its holdings in shares of Huntington Bancshares by 3.0% during the 4th quarter. Hill Island Financial LLC now owns 27,377 shares of the bank’s stock valued at $475,000 after purchasing an additional 803 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Insider Activity at Huntington Bancshares

In related news, insider Prashant Nateri sold 10,171 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $15.50, for a total value of $157,650.50. Following the sale, the insider owned 83,819 shares of the company’s stock, valued at approximately $1,299,194.50. This trade represents a 10.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James D. Rollins III bought 3,029 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was purchased at an average cost of $21.05 per share, for a total transaction of $63,760.45. Following the transaction, the director owned 9,500 shares in the company, valued at $199,975. The trade was a 46.81% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 18,127 shares of company stock valued at $343,888. 0.67% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wolfe Research cut their price objective on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. Piper Sandler upgraded Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price objective on the stock in a report on Thursday, April 23rd. Evercore cut their price objective on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, April 6th. Jefferies Financial Group lifted their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, April 24th. Finally, JPMorgan Chase & Co. cut their price objective on Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating on the stock in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus price target of $20.05.

Huntington Bancshares Trading Up 1.5%

NASDAQ:HBAN opened at $16.36 on Friday. The business’s 50-day simple moving average is $16.05 and its 200-day simple moving average is $16.77. Huntington Bancshares Incorporated has a fifty-two week low of $14.89 and a fifty-two week high of $19.45. The stock has a market capitalization of $33.16 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 0.75 and a beta of 0.96. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The business had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the firm earned $0.34 EPS. Sell-side analysts expect that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.69%.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.