Korea Investment CORP Grows Stock Position in Huntington Bancshares Incorporated $HBAN

Korea Investment CORP boosted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 176.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,898,568 shares of the bank’s stock after buying an additional 1,212,070 shares during the period. Korea Investment CORP owned 0.13% of Huntington Bancshares worth $31,820,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Avantax Advisory Services Inc. grew its holdings in Huntington Bancshares by 19.5% in the first quarter. Avantax Advisory Services Inc. now owns 33,698 shares of the bank’s stock valued at $506,000 after purchasing an additional 5,493 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Huntington Bancshares by 28.6% in the 1st quarter. Mackenzie Financial Corp now owns 138,555 shares of the bank’s stock valued at $2,080,000 after purchasing an additional 30,808 shares during the last quarter. Foundations Investment Advisors LLC grew its stake in shares of Huntington Bancshares by 2.4% during the 1st quarter. Foundations Investment Advisors LLC now owns 29,023 shares of the bank’s stock valued at $436,000 after buying an additional 691 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in shares of Huntington Bancshares during the 1st quarter valued at $47,000. Finally, Arkadios Wealth Advisors increased its holdings in shares of Huntington Bancshares by 256.7% during the 1st quarter. Arkadios Wealth Advisors now owns 66,177 shares of the bank’s stock worth $993,000 after buying an additional 47,624 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Buying and Selling

In other Huntington Bancshares news, insider Helga Houston sold 64,587 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $15.38, for a total value of $993,348.06. Following the transaction, the insider owned 534,640 shares in the company, valued at $8,222,763.20. The trade was a 10.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Marcy C. Hingst sold 6,416 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $15.65, for a total transaction of $100,410.40. Following the completion of the transaction, the executive vice president directly owned 252,305 shares of the company’s stock, valued at approximately $3,948,573.25. The trade was a 2.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 112,103 shares of company stock valued at $1,833,558 in the last quarter. Company insiders own 0.89% of the company’s stock.

Huntington Bancshares Price Performance

HBAN stock opened at $16.27 on Friday. The firm has a market cap of $23.74 billion, a P/E ratio of 11.37, a price-to-earnings-growth ratio of 0.66 and a beta of 1.01. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.92. Huntington Bancshares Incorporated has a 1 year low of $11.91 and a 1 year high of $18.13. The stock has a 50-day simple moving average of $16.09 and a 200-day simple moving average of $16.45.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Wednesday, June 11th. The bank reported $0.28 earnings per share for the quarter. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%.The firm had revenue of $469.00 million during the quarter. On average, equities analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Thursday, December 18th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Thursday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 43.36%.

Analyst Upgrades and Downgrades

HBAN has been the topic of a number of research analyst reports. Zacks Research upgraded Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Keefe, Bruyette & Woods raised their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “market perform” rating in a report on Monday, October 20th. Evercore ISI assumed coverage on Huntington Bancshares in a research note on Tuesday, October 21st. They issued an “outperform” rating and a $18.00 price objective on the stock. Truist Financial boosted their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Huntington Bancshares in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.64.

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.