Pictet Asset Management Holding SA Boosts Stock Holdings in Huntington Bancshares Incorporated $HBAN

Pictet Asset Management Holding SA lifted its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 33.5% in the 1st quarter, Holdings Channel.com reports. The fund owned 1,164,928 shares of the bank’s stock after buying an additional 292,586 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Huntington Bancshares were worth $18,231,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HBAN. Sagespring Wealth Partners LLC boosted its stake in Huntington Bancshares by 2.4% during the 4th quarter. Sagespring Wealth Partners LLC now owns 25,217 shares of the bank’s stock valued at $438,000 after purchasing an additional 587 shares during the last quarter. Values First Advisors Inc. lifted its holdings in shares of Huntington Bancshares by 3.0% during the first quarter. Values First Advisors Inc. now owns 20,564 shares of the bank’s stock valued at $322,000 after purchasing an additional 604 shares in the last quarter. MCF Advisors LLC boosted its position in shares of Huntington Bancshares by 12.6% during the fourth quarter. MCF Advisors LLC now owns 5,438 shares of the bank’s stock valued at $95,000 after buying an additional 609 shares during the last quarter. Balboa Wealth Partners boosted its position in shares of Huntington Bancshares by 2.5% during the first quarter. Balboa Wealth Partners now owns 27,042 shares of the bank’s stock valued at $423,000 after buying an additional 662 shares during the last quarter. Finally, Rehmann Capital Advisory Group increased its holdings in Huntington Bancshares by 4.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 16,881 shares of the bank’s stock worth $292,000 after buying an additional 694 shares in the last quarter. 80.72% of the stock is owned by institutional investors.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $18.11 on Thursday. The business has a 50-day simple moving average of $16.56 and a two-hundred day simple moving average of $16.90. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45. The stock has a market cap of $36.71 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 0.81 and a beta of 0.93.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same period in the previous year, the firm earned $0.34 EPS. On average, analysts expect that Huntington Bancshares Incorporated will post 1.62 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.4%. Huntington Bancshares’s payout ratio is currently 47.69%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Barclays lowered Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Weiss Ratings cut shares of Huntington Bancshares from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 18th. Piper Sandler upgraded shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 target price for the company in a research note on Thursday, April 23rd. Jefferies Financial Group increased their price target on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, April 24th. Finally, JPMorgan Chase & Co. cut their price objective on Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating for the company in a report on Thursday, April 30th. One research 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.15.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 10,568 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the completion of the transaction, the executive vice president directly owned 267,859 shares in the company, valued at $4,821,462. This represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the sale, the director directly owned 612,155 shares of the company’s stock, valued at approximately $10,620,889.25. This trade represents a 26.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have acquired 33,500 shares of company stock worth $617,542 in the last ninety days. Insiders own 0.67% of the company’s stock.

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.