Jupiter Asset Management Ltd. Buys 1,797,059 Shares of Huntington Bancshares Incorporated $HBAN

Jupiter Asset Management Ltd. lifted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6,682.0% during the 4th quarter, HoldingsChannel reports. The firm owned 1,823,953 shares of the bank’s stock after acquiring an additional 1,797,059 shares during the period. Jupiter Asset Management Ltd.’s holdings in Huntington Bancshares were worth $31,646,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in HBAN. Vanguard Group Inc. grew its holdings in Huntington Bancshares by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock worth $3,319,385,000 after acquiring an additional 14,338,222 shares during the last quarter. Boston Partners lifted its position in shares of Huntington Bancshares by 3.9% in the 3rd quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock worth $1,091,615,000 after purchasing an additional 2,363,905 shares during the period. Invesco Ltd. lifted its position in shares of Huntington Bancshares by 1.5% in the 3rd quarter. Invesco Ltd. now owns 59,062,922 shares of the bank’s stock worth $1,020,017,000 after purchasing an additional 861,263 shares during the period. Geode Capital Management LLC lifted its position in shares of Huntington Bancshares by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 43,171,993 shares of the bank’s stock valued at $746,257,000 after acquiring an additional 3,074,673 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of Huntington Bancshares by 15.7% during the 3rd quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank’s stock valued at $594,054,000 after acquiring an additional 4,640,302 shares during the period. 80.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HBAN has been the topic of several research reports. Barclays downgraded shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Piper Sandler upgraded shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 target price for the company in a report on Thursday, April 23rd. Morgan Stanley reduced their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. DA Davidson reduced their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, March 16th. Finally, Wall Street Zen upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.05.

Insider Transactions at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 65,530 shares of Huntington Bancshares stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $15.28, for a total value of $1,001,298.40. Following the completion of the sale, the vice president directly owned 481,676 shares in the company, valued at approximately $7,360,009.28. This trade represents a 11.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Prashant Nateri sold 10,171 shares of Huntington Bancshares stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $15.50, for a total value of $157,650.50. Following the completion of the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have bought 18,127 shares of company stock worth $343,888. Insiders own 0.67% of the company’s stock.

Huntington Bancshares Trading Up 0.6%

Shares of HBAN opened at $16.12 on Friday. The firm’s 50 day simple moving average is $16.02 and its 200 day simple moving average is $16.77. The company has a market capitalization of $32.68 billion, a P/E ratio of 12.40, a P/E/G ratio of 0.74 and a beta of 0.96. 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 $14.89 and a 1-year high of $19.45.

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. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. The business had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period last year, the business earned $0.34 earnings per share. Sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.8%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.69%.

Huntington Bancshares Company 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.