Canada Post Corp Registered Pension Plan Acquires 123,389 Shares of Huntington Bancshares Incorporated $HBAN

Canada Post Corp Registered Pension Plan increased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 435.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,744 shares of the bank’s stock after acquiring an additional 123,389 shares during the quarter. Canada Post Corp Registered Pension Plan’s holdings in Huntington Bancshares were worth $2,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of HBAN. Empowered Funds LLC increased its stake in shares of Huntington Bancshares by 5.0% in the 1st quarter. Empowered Funds LLC now owns 28,888 shares of the bank’s stock worth $434,000 after acquiring an additional 1,366 shares in the last quarter. Woodline Partners LP increased its stake in shares of Huntington Bancshares by 40.8% in the 1st quarter. Woodline Partners LP now owns 122,821 shares of the bank’s stock worth $1,844,000 after acquiring an additional 35,574 shares in the last quarter. Brown Advisory Inc. increased its stake in shares of Huntington Bancshares by 8.3% in the 2nd quarter. Brown Advisory Inc. now owns 39,490 shares of the bank’s stock worth $662,000 after acquiring an additional 3,023 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Huntington Bancshares by 6.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 219,185 shares of the bank’s stock worth $3,674,000 after acquiring an additional 12,865 shares in the last quarter. Finally, Sei Investments Co. increased its stake in shares of Huntington Bancshares by 6.2% in the 2nd quarter. Sei Investments Co. now owns 707,605 shares of the bank’s stock worth $11,859,000 after acquiring an additional 41,156 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $15.41 on Monday. The company’s 50 day moving average price is $16.01 and its 200-day moving average price is $16.74. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. The stock has a market cap of $31.24 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 0.71 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last posted 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. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter in the prior year, the company posted $0.34 earnings per share. On average, equities research analysts forecast that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 47.69%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. UBS Group set a $21.00 price target on shares of Huntington Bancshares in a research note on Wednesday, February 4th. Keefe, Bruyette & Woods reduced their price objective on shares of Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating for the company in a research note on Friday, January 23rd. Morgan Stanley decreased their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Friday, April 24th. Piper Sandler upgraded shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 target price on the stock in a research note on Thursday, April 23rd. Finally, Jefferies Financial Group increased their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $20.05.

Insider Activity at Huntington Bancshares

In related news, Director Gary Torgow purchased 14,200 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were purchased at an average price of $17.81 per share, with a total value of $252,902.00. Following the acquisition, the director directly owned 943,341 shares in the company, valued at $16,800,903.21. The trade was a 1.53% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Prashant Nateri sold 10,171 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $15.50, for a total transaction of $157,650.50. Following the sale, the insider directly owned 83,819 shares in the company, valued at approximately $1,299,194.50. The trade was a 10.82% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders bought 39,200 shares of company stock worth $756,724. 0.67% of the stock is owned by insiders.

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.