Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Acquired by Bank of Nova Scotia

Bank of Nova Scotia lifted its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 909.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,940,373 shares of the bank’s stock after buying an additional 1,748,127 shares during the period. Bank of Nova Scotia owned approximately 0.13% of Huntington Bancshares worth $31,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Huntington Bancshares in the 4th quarter valued at approximately $302,826,000. Raymond James Financial Inc. acquired a new stake in Huntington Bancshares in the 4th quarter valued at approximately $150,444,000. FMR LLC increased its holdings in Huntington Bancshares by 36.9% in the 4th quarter. FMR LLC now owns 32,479,039 shares of the bank’s stock valued at $528,434,000 after purchasing an additional 8,759,871 shares during the last quarter. Amundi boosted its position in Huntington Bancshares by 26.7% in the 4th quarter. Amundi now owns 17,435,207 shares of the bank’s stock valued at $286,460,000 after buying an additional 3,671,235 shares during the period. Finally, National Bank of Canada FI boosted its position in Huntington Bancshares by 220.9% in the 4th quarter. National Bank of Canada FI now owns 3,666,949 shares of the bank’s stock valued at $59,661,000 after buying an additional 2,524,077 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Trading Up 9.8 %

Shares of Huntington Bancshares stock opened at $13.71 on Thursday. The stock has a market capitalization of $20.03 billion, a P/E ratio of 11.15, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The company has a 50-day simple moving average of $15.37 and a 200 day simple moving average of $16.07. Huntington Bancshares Incorporated has a 12-month low of $11.92 and a 12-month high of $18.45.

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

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend was Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.41%.

Analyst Ratings Changes

Several equities analysts have commented on HBAN shares. Truist Financial raised their price target on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Barclays lifted their price objective on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Baird R W raised shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. JPMorgan Chase & Co. decreased their price objective on shares of Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. Finally, Piper Sandler decreased their price objective on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus price target of $17.94.

Insider Activity

In related news, VP Brendan A. Lawlor sold 3,521 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $15.25, for a total value of $53,695.25. Following the sale, the vice president now directly owns 47,950 shares in the company, valued at $731,237.50. This trade represents a 6.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total transaction of $552,925.38. Following the completion of the sale, the chief financial officer now owns 335,538 shares in the company, valued at $4,825,036.44. This represents a 10.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,781 shares of company stock valued at $1,631,151. 0.89% of the stock is currently owned by insiders.

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.