AEGON ASSET MANAGEMENT UK Plc Makes New Investment in Huntington Bancshares Incorporated $HBAN

AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 519,593 shares of the bank’s stock, valued at approximately $8,973,000.

Other large investors have also made changes to their positions in the company. LifeWealth Investments LLC lifted its stake in Huntington Bancshares by 2.3% in the 2nd quarter. LifeWealth Investments LLC now owns 28,501 shares of the bank’s stock worth $478,000 after purchasing an additional 632 shares in the last quarter. Parcion Private Wealth LLC raised its position in Huntington Bancshares by 6.2% in the third quarter. Parcion Private Wealth LLC now owns 11,081 shares of the bank’s stock valued at $191,000 after purchasing an additional 648 shares during the period. Strategic Planning Inc. lifted its stake in shares of Huntington Bancshares by 0.3% in the 3rd quarter. Strategic Planning Inc. now owns 199,318 shares of the bank’s stock valued at $3,442,000 after purchasing an additional 670 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Huntington Bancshares by 1.0% during the 3rd quarter. Benjamin Edwards Inc. now owns 73,147 shares of the bank’s stock worth $1,263,000 after purchasing an additional 758 shares during the period. Finally, Almanack Investment Partners LLC. increased its position in shares of Huntington Bancshares by 1.1% during the 2nd quarter. Almanack Investment Partners LLC. now owns 69,699 shares of the bank’s stock worth $1,168,000 after purchasing an additional 768 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Down 0.1%

HBAN opened at $17.34 on Tuesday. The company has a market cap of $27.31 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 0.65 and a beta of 0.95. Huntington Bancshares Incorporated has a one year low of $11.91 and a one year high of $18.91. The business’s fifty day moving average is $17.32 and its two-hundred day moving average is $16.87. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.03). The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. During the same quarter in the prior year, the company earned $0.34 earnings per share. Analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Wednesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 44.60%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, Director John C. Inglis acquired 6,506 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was bought at an average price of $15.30 per share, with a total value of $99,541.80. Following the completion of the transaction, the director directly owned 89,831 shares of the company’s stock, valued at approximately $1,374,414.30. The trade was a 7.81% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Helga Houston sold 64,587 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $15.38, for a total value of $993,348.06. Following the completion of the sale, the insider directly owned 534,640 shares of the company’s stock, valued at $8,222,763.20. The trade was a 10.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 97,863 shares of company stock worth $1,581,634. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Huntington Bancshares in a report on Thursday. Truist Financial raised their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a report on Monday. Raymond James Financial lifted their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a “strong-buy” rating in a research note on Friday. Stephens increased their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Thursday, December 18th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Huntington Bancshares from $18.00 to $18.50 and gave the stock an “overweight” rating in a research report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.11.

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.