Swiss Life Asset Management Ltd Buys 50,778 Shares of Huntington Bancshares Incorporated $HBAN

Swiss Life Asset Management Ltd lifted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 20.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 301,553 shares of the bank’s stock after purchasing an additional 50,778 shares during the period. Swiss Life Asset Management Ltd’s holdings in Huntington Bancshares were worth $5,232,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Shoker Investment Counsel Inc. boosted its position in shares of Huntington Bancshares by 4.2% in the 4th quarter. Shoker Investment Counsel Inc. now owns 208,523 shares of the bank’s stock worth $3,618,000 after purchasing an additional 8,330 shares during the last quarter. Midwest Trust Co raised its stake in Huntington Bancshares by 0.9% during the 4th quarter. Midwest Trust Co now owns 1,523,956 shares of the bank’s stock worth $26,441,000 after buying an additional 12,979 shares during the period. NewEdge Wealth LLC acquired a new stake in Huntington Bancshares during the 4th quarter worth $370,000. LJI Wealth Management LLC raised its stake in Huntington Bancshares by 99.8% during the 4th quarter. LJI Wealth Management LLC now owns 22,303 shares of the bank’s stock worth $387,000 after buying an additional 11,140 shares during the period. Finally, Crossmark Global Holdings Inc. raised its stake in Huntington Bancshares by 2.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 55,949 shares of the bank’s stock worth $971,000 after buying an additional 1,362 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HBAN. Morgan Stanley dropped their price objective on Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. Evercore dropped their price objective on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, April 6th. Barclays downgraded Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. National Bank Financial set a $21.00 price objective on Huntington Bancshares in a research note on Wednesday, February 4th. Finally, Raymond James Financial lifted their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company a “strong-buy” rating in a research note on Friday, January 23rd. One 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. According to data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.05.

Huntington Bancshares Stock Performance

HBAN opened at $15.35 on Thursday. The business’s 50-day moving average price is $16.06 and its two-hundred day moving average price is $16.74. Huntington Bancshares Incorporated has a 1 year low of $14.89 and a 1 year high of $19.45. The company has a market capitalization of $31.12 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 0.73 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 (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter last year, the business posted $0.34 EPS. Equities analysts expect that Huntington Bancshares Incorporated will post 1.62 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed 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 4.0%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 47.69%.

Insider Buying and Selling

In other news, insider Prashant Nateri sold 10,171 shares of the firm’s 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 transaction, the insider owned 83,819 shares in the company, valued at $1,299,194.50. This trade represents a 10.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary Torgow acquired 14,200 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was bought at an average price of $17.81 per share, with a total value of $252,902.00. Following the acquisition, the director directly owned 943,341 shares in the company, valued at $16,800,903.21. This represents a 1.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 39,200 shares of company stock worth $756,724 over the last 90 days. 0.67% of the stock is currently owned by insiders.

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.