Korea Investment CORP Purchases 1,104,355 Shares of Huntington Bancshares Incorporated $HBAN

Korea Investment CORP boosted its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 28.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,038,274 shares of the bank’s stock after buying an additional 1,104,355 shares during the period. Korea Investment CORP’s holdings in Huntington Bancshares were worth $87,414,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Palisade Asset Management LLC bought a new position in Huntington Bancshares during the third quarter valued at approximately $26,000. South Plains Financial Inc. boosted its stake in Huntington Bancshares by 116.3% during the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after buying an additional 826 shares during the last quarter. Accredited Wealth Management LLC boosted its stake in Huntington Bancshares by 374.5% during the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after buying an additional 1,322 shares during the last quarter. AlphaCore Capital LLC bought a new position in Huntington Bancshares during the third quarter valued at approximately $33,000. Finally, Quest 10 Wealth Builders Inc. boosted its stake in Huntington Bancshares by 403.1% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 2,611 shares of the bank’s stock valued at $45,000 after buying an additional 2,092 shares during the last quarter. 80.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays lowered Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. Truist Financial decreased their price objective 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. Piper Sandler upgraded 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. Wall Street Zen upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, JPMorgan Chase & Co. dropped their target price on Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating for the company in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.10.

Insider Buying and Selling

In other news, Director James D. Rollins III acquired 11,127 shares of Huntington Bancshares stock in a transaction on Tuesday, June 2nd. The shares were bought at an average cost of $16.50 per share, for a total transaction of $183,595.50. Following the acquisition, the director directly owned 11,127 shares of the company’s stock, valued at $183,595.50. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders acquired 33,500 shares of company stock worth $617,542. Company insiders own 0.67% of the company’s stock.

Huntington Bancshares Trading Up 1.8%

Shares of NASDAQ HBAN opened at $17.52 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. The business’s 50 day moving average price is $16.29 and its 200-day moving average price is $16.83. Huntington Bancshares Incorporated has a fifty-two week low of $14.89 and a fifty-two week high of $19.45. The company has a market cap of $35.52 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 0.78 and a beta of 0.94.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.16 by $0.21. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate 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 last year, the business posted $0.34 EPS. On average, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 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.