Avanza Fonder AB Invests $1.81 Million in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Avanza Fonder AB bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 111,019 shares of the bank’s stock, valued at approximately $1,806,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HBAN. Arvest Bank Trust Division acquired a new position in shares of Huntington Bancshares in the 3rd quarter valued at $2,381,000. Heritage Wealth Management Inc. acquired a new position in Huntington Bancshares in the second quarter worth about $744,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Huntington Bancshares by 5.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock worth $12,414,000 after purchasing an additional 44,662 shares during the period. Petiole USA ltd acquired a new stake in Huntington Bancshares during the third quarter valued at approximately $3,454,000. Finally, Franklin Resources Inc. boosted its holdings in Huntington Bancshares by 3.2% during the third quarter. Franklin Resources Inc. now owns 1,797,771 shares of the bank’s stock valued at $27,901,000 after purchasing an additional 55,602 shares in the last quarter. 80.72% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the transaction, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at $4,582,795.09. This represents a 3.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the sale, the vice president now directly owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,699 shares of company stock valued at $757,356 over the last ninety days. 0.92% of the stock is currently owned by company insiders.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $17.01 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. The firm has a 50-day moving average of $17.06 and a 200-day moving average of $15.47. The company has a market cap of $24.71 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. Huntington Bancshares Incorporated has a one year low of $12.02 and a one year high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same quarter in the prior year, the firm earned $0.27 EPS. As a group, equities analysts forecast that Huntington Bancshares Incorporated will post 1.22 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.64%. Huntington Bancshares’s dividend payout ratio is 59.62%.

Wall Street Analysts Forecast Growth

HBAN has been the subject of several analyst reports. Evercore ISI raised their target price on Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. DA Davidson upped their target price on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a report on Monday, October 21st. Truist Financial began coverage on shares of Huntington Bancshares in a report on Tuesday, January 7th. They issued a “buy” rating and a $19.00 target price on the stock. Finally, Piper Sandler boosted their price target on shares of Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.76.

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.