Orion Portfolio Solutions LLC Raises Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Orion Portfolio Solutions LLC boosted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 35.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 320,975 shares of the bank’s stock after purchasing an additional 83,523 shares during the period. Orion Portfolio Solutions LLC’s holdings in Huntington Bancshares were worth $5,222,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Pictet Asset Management Holding SA boosted 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 worth $13,832,000 after buying an additional 129,106 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in Huntington Bancshares by 0.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 448,050 shares of the bank’s stock worth $7,290,000 after acquiring an additional 2,413 shares during the period. Norges Bank purchased a new position in Huntington Bancshares in the fourth quarter valued at about $302,826,000. Caisse Des Depots ET Consignations bought a new position in shares of Huntington Bancshares during the 4th quarter valued at approximately $5,659,000. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of Huntington Bancshares during the 4th quarter worth approximately $70,000. Institutional investors own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HBAN. Piper Sandler dropped their price objective 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. Citigroup cut their price target on Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Keefe, Bruyette & Woods boosted their price objective on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $20.00 target price on shares of Huntington Bancshares in a research report on Tuesday, January 21st. Finally, Truist Financial boosted their price target on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.18.

Huntington Bancshares Trading Down 2.2 %

Shares of HBAN opened at $14.79 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a 1-year low of $12.05 and a 1-year high of $18.45. The company has a market capitalization of $21.60 billion, a P/E ratio of 12.02, a P/E/G ratio of 1.33 and a beta of 1.07. The firm’s 50 day simple moving average is $16.07 and its 200 day simple moving average is $16.14.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter in the prior year, the company posted $0.27 earnings per share. Sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be issued a dividend of $0.155 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.19%. Huntington Bancshares’s dividend payout ratio is 50.41%.

Insider Buying and Selling

In other news, VP Brendan A. Lawlor sold 3,521 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $15.25, for a total value of $53,695.25. Following the completion of the sale, the vice president now directly owns 47,950 shares in the company, valued at approximately $731,237.50. The trade was a 6.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Scott D. Kleinman sold 69,088 shares of Huntington Bancshares stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the completion of the transaction, the vice president now owns 453,129 shares in the company, valued at approximately $6,647,402.43. The trade was a 13.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,781 shares of company stock worth $1,631,151 in the last quarter. 0.89% of the stock is owned by insiders.

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.