Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP grew its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 64.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 304,829 shares of the bank’s stock after acquiring an additional 119,178 shares during the quarter. Wellington Management Group LLP’s holdings in Huntington Bancshares were worth $3,877,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Huntington Bancshares by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 172,069,244 shares of the bank’s stock valued at $1,789,520,000 after purchasing an additional 1,209,264 shares during the last quarter. Boston Partners grew its position in Huntington Bancshares by 59.3% during the fourth quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock valued at $593,408,000 after acquiring an additional 17,365,446 shares during the period. Norges Bank acquired a new stake in Huntington Bancshares during the fourth quarter worth about $206,703,000. Dimensional Fund Advisors LP raised its holdings in shares of Huntington Bancshares by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,130,774 shares of the bank’s stock worth $192,473,000 after purchasing an additional 765,070 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Huntington Bancshares by 39.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock valued at $83,124,000 after purchasing an additional 1,838,019 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HBAN shares. Piper Sandler lowered shares of Huntington Bancshares from a “neutral” rating to an “underweight” rating and cut their price target for the company from $13.50 to $11.50 in a report on Friday, June 14th. StockNews.com lowered shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, June 19th. Evercore ISI lowered their price target on Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. JPMorgan Chase & Co. reduced their price objective on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Bank of America raised Huntington Bancshares from a “neutral” rating to a “buy” rating and upped their target price for the stock from $14.00 to $16.00 in a research report on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.03.

Huntington Bancshares Stock Performance

Huntington Bancshares stock opened at $13.18 on Friday. Huntington Bancshares Incorporated has a 52 week low of $9.25 and a 52 week high of $14.30. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. The stock has a market cap of $19.10 billion, a P/E ratio of 11.87, a price-to-earnings-growth ratio of 2.41 and a beta of 1.08. The stock has a 50 day moving average of $13.42 and a 200-day moving average of $13.15.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Friday, April 19th. The bank reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $1.74 billion. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. During the same period in the prior year, the firm posted $0.38 EPS. On average, analysts expect that Huntington Bancshares Incorporated will post 1.19 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.70%. The ex-dividend date of this dividend is Monday, June 17th. Huntington Bancshares’s payout ratio is currently 55.86%.

Insiders Place Their Bets

In other news, insider Kendall A. Kowalski sold 15,711 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $13.84, for a total value of $217,440.24. Following the completion of the sale, the insider now directly owns 65,195 shares in the company, valued at approximately $902,298.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Kendall A. Kowalski sold 15,711 shares of Huntington Bancshares stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $13.84, for a total value of $217,440.24. Following the completion of the transaction, the insider now directly owns 65,195 shares of the company’s stock, valued at approximately $902,298.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Rajeev Syal sold 11,627 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $13.67, for a total transaction of $158,941.09. Following the sale, the vice president now owns 329,607 shares in the company, valued at approximately $4,505,727.69. The disclosure for this sale can be found here. Insiders have sold a total of 157,829 shares of company stock valued at $2,148,623 in the last quarter. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Company Profile

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.