State of New Jersey Common Pension Fund D Has $7.39 Million Holdings in Huntington Bancshares Incorporated $HBAN

State of New Jersey Common Pension Fund D lifted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 10.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 425,961 shares of the bank’s stock after purchasing an additional 41,488 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Huntington Bancshares were worth $7,390,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of HBAN. Palisade Asset Management LLC acquired a new position in shares of Huntington Bancshares during the third quarter worth $26,000. South Plains Financial Inc. increased its holdings in shares of Huntington Bancshares by 116.3% during the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after buying an additional 826 shares in the last quarter. Accredited Wealth Management LLC increased its holdings in Huntington Bancshares by 374.5% in the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,322 shares during the period. Grey Fox Wealth Advisors LLC acquired a new stake in Huntington Bancshares in the third quarter valued at $31,000. Finally, AlphaCore Capital LLC acquired a new stake in Huntington Bancshares in the third quarter valued at $33,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, Director Gary Torgow purchased 14,200 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were acquired at an average price of $17.81 per share, with a total value of $252,902.00. Following the transaction, the director owned 943,341 shares in the company, valued at $16,800,903.21. The trade was a 1.53% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James D. Rollins III purchased 8,471 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was acquired at an average cost of $18.01 per share, for a total transaction of $152,562.71. Following the transaction, the director owned 11,500 shares in the company, valued at $207,115. This represents a 279.66% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 39,200 shares of company stock worth $756,724 and have sold 98,986 shares worth $1,600,958. Company insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on HBAN. Barclays cut shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Royal Bank Of Canada cut their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Truist Financial cut their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. National Bank Financial set a $21.00 price target on shares of Huntington Bancshares in a research report on Wednesday, February 4th. Finally, Piper Sandler raised shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price target on the stock in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.05.

Huntington Bancshares Price Performance

HBAN stock opened at $16.63 on Friday. The stock has a market capitalization of $33.87 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 0.77 and a beta of 0.96. The company’s 50-day moving average is $16.23 and its 200-day moving average is $16.73. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. Huntington Bancshares Incorporated has a 1 year low of $14.78 and a 1 year high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.21. The company had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same quarter in the prior year, the firm earned $0.34 EPS. Equities research analysts expect that Huntington Bancshares Incorporated will post 1.61 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Wednesday, June 17th. 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.