Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd decreased its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 32.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 161,123 shares of the bank’s stock after selling 77,507 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Huntington Bancshares were worth $2,621,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Arvest Bank Trust Division purchased a new position in shares of Huntington Bancshares during the third quarter worth about $2,381,000. Mediolanum International Funds Ltd purchased a new position in Huntington Bancshares during the 4th quarter worth approximately $422,000. Donoghue Forlines LLC acquired a new position in Huntington Bancshares during the fourth quarter worth approximately $1,460,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Huntington Bancshares by 5.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock valued at $12,414,000 after buying an additional 44,662 shares during the last quarter. Finally, Petiole USA ltd acquired a new stake in shares of Huntington Bancshares in the third quarter valued at approximately $3,454,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Performance

HBAN opened at $16.92 on Monday. Huntington Bancshares Incorporated has a 1-year low of $12.05 and a 1-year high of $18.44. The stock has a market cap of $24.58 billion, a P/E ratio of 13.76, a P/E/G ratio of 1.41 and a beta of 1.07. The stock’s 50 day simple moving average is $16.84 and its 200 day simple moving average is $15.82. 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 posted its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, beating the consensus estimate 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 period last year, the business earned $0.27 EPS. As a group, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.4 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.41%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a report on Tuesday, January 21st. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. Piper Sandler decreased their target price on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods boosted their price target on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Citigroup upped their price objective on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.06.

Insider Activity

In related news, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the sale, the chief financial officer now owns 259,943 shares in the company, valued at approximately $4,582,795.09. This trade represents a 3.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the transaction, the vice president now owns 496,076 shares in the company, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

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.