Deutsche Bank AG Purchases 1,170,081 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Deutsche Bank AG boosted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 24.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,004,666 shares of the bank’s stock after purchasing an additional 1,170,081 shares during the period. Deutsche Bank AG’s holdings in Huntington Bancshares were worth $97,696,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Driehaus Capital Management LLC purchased a new position in shares of Huntington Bancshares in the fourth quarter worth about $428,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Huntington Bancshares by 126.6% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,048,773 shares of the bank’s stock worth $114,684,000 after acquiring an additional 3,938,769 shares during the last quarter. EP Wealth Advisors LLC purchased a new position in Huntington Bancshares in the 4th quarter worth approximately $203,000. CoreCap Advisors LLC increased its stake in Huntington Bancshares by 18.0% in the 4th quarter. CoreCap Advisors LLC now owns 6,608 shares of the bank’s stock worth $108,000 after purchasing an additional 1,007 shares during the period. Finally, Crestline Management LP bought a new stake in Huntington Bancshares in the fourth quarter valued at approximately $1,719,000. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Price Performance

HBAN opened at $15.22 on Monday. Huntington Bancshares Incorporated has a 12-month low of $11.92 and a 12-month high of $18.45. The company has a market cap of $22.23 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The stock has a fifty day simple moving average of $14.35 and a two-hundred day simple moving average of $15.96.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.89 billion. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period last year, the business earned $0.27 EPS. Research analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares declared that its Board of Directors has initiated a share repurchase plan on Thursday, April 17th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the bank to purchase up to 5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be given a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.07%. Huntington Bancshares’s dividend payout ratio is currently 47.33%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, VP Scott D. Kleinman sold 69,088 shares of Huntington Bancshares stock in a transaction dated 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 transaction, the vice president now directly owns 453,129 shares of the company’s stock, valued at approximately $6,647,402.43. The trade was a 13.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brendan A. Lawlor sold 3,521 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $15.25, for a total transaction of $53,695.25. Following the sale, the vice president now owns 47,950 shares in the company, valued at approximately $731,237.50. The trade was a 6.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 312,456 shares of company stock valued at $4,464,105 in the last 90 days. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.50 target price on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. cut their price target on shares of Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. Truist Financial lowered their price objective on shares of Huntington Bancshares from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Robert W. Baird raised Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 target price on the stock in a research note on Friday, March 7th. Finally, Argus set a $17.00 price target on Huntington Bancshares in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and an average target price of $17.45.

About Huntington Bancshares

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.