TD Asset Management Inc Buys 35,020 Shares of Huntington Bancshares Incorporated $HBAN

TD Asset Management Inc grew its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 599,326 shares of the bank’s stock after buying an additional 35,020 shares during the period. TD Asset Management Inc’s holdings in Huntington Bancshares were worth $10,398,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new position in Huntington Bancshares during the fourth quarter valued at approximately $432,584,000. Vanguard Group Inc. raised its holdings in Huntington Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock worth $3,319,385,000 after purchasing an additional 14,338,222 shares during the period. Junto Capital Management LP acquired a new stake in Huntington Bancshares in the third quarter worth $85,690,000. Victory Capital Management Inc. boosted its position in shares of Huntington Bancshares by 15.7% during the third quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank’s stock worth $594,054,000 after purchasing an additional 4,640,302 shares in the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich acquired a new position in shares of Huntington Bancshares in the 4th quarter valued at $73,333,000. 80.72% of the stock is owned by institutional investors.

Insider Transactions at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 65,530 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $15.28, for a total value of $1,001,298.40. Following the sale, the vice president directly owned 481,676 shares in the company, valued at $7,360,009.28. This trade represents a 11.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Prashant Nateri sold 10,171 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $15.50, for a total transaction of $157,650.50. Following the transaction, the insider owned 83,819 shares of the company’s stock, valued at $1,299,194.50. The trade was a 10.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders acquired 33,500 shares of company stock valued at $617,542 in the last ninety days. 0.67% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

HBAN has been the topic of several research analyst reports. Piper Sandler raised Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price objective on the stock in a research note on Thursday, April 23rd. Jefferies Financial Group boosted their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Truist Financial dropped their price target on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. 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. Finally, The Goldman Sachs Group decreased their price objective on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, April 6th. One research 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 given a Sell rating to the company. According to MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and an average target price of $20.05.

Huntington Bancshares Price Performance

HBAN stock opened at $16.82 on Wednesday. The stock has a 50-day moving average price of $16.19 and a two-hundred day moving average price of $16.81. Huntington Bancshares Incorporated has a 1 year low of $14.89 and a 1 year high of $19.45. The stock has a market cap of $34.10 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 0.75 and a beta of 0.94. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same period in the previous year, the company posted $0.34 earnings per share. Equities analysts forecast that Huntington Bancshares Incorporated will post 1.61 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.7%. Huntington Bancshares’s dividend payout ratio is 47.69%.

Huntington Bancshares Profile

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.