AMF Tjanstepension AB Reduces Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

AMF Tjanstepension AB decreased its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 71.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 386,516 shares of the bank’s stock after selling 977,124 shares during the period. AMF Tjanstepension AB’s holdings in Huntington Bancshares were worth $6,320,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of HBAN. Raymond James Financial Inc. purchased a new position in Huntington Bancshares during the fourth quarter worth $150,444,000. State Street Corp boosted its holdings in shares of Huntington Bancshares by 10.3% during the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after purchasing an additional 7,439,909 shares during the last quarter. FMR LLC boosted its holdings in shares of Huntington Bancshares by 16.8% during the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock worth $348,672,000 after purchasing an additional 3,410,597 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Huntington Bancshares by 13.2% during the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock worth $298,682,000 after purchasing an additional 2,363,988 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Huntington Bancshares by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank’s stock worth $1,056,353,000 after purchasing an additional 2,218,020 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on HBAN shares. JPMorgan Chase & Co. restated an “overweight” rating and set a $20.00 price objective (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Royal Bank of Canada restated an “outperform” rating and set a $20.00 price objective on shares of Huntington Bancshares in a report on Tuesday, January 21st. Robert W. Baird upgraded Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price objective on the stock in a report on Friday. Stephens reiterated an “equal weight” rating and issued a $18.50 target price on shares of Huntington Bancshares in a report on Friday, February 7th. Finally, Citigroup lifted their target price on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.24.

Huntington Bancshares Trading Up 0.1 %

Shares of HBAN opened at $15.14 on Friday. The stock’s 50-day moving average is $16.55 and its two-hundred day moving average is $16.11. The stock has a market cap of $22.01 billion, a PE ratio of 12.31, a P/E/G ratio of 1.33 and a beta of 1.07. Huntington Bancshares Incorporated has a 12 month low of $12.05 and a 12 month high of $18.44. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter last year, the business earned $0.27 EPS. Equities analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th 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 4.10%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s payout ratio is 50.41%.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.