Canada Pension Plan Investment Board Raises Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Canada Pension Plan Investment Board lifted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 14.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 905,917 shares of the bank’s stock after buying an additional 116,134 shares during the quarter. Canada Pension Plan Investment Board owned 0.06% of Huntington Bancshares worth $11,940,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Future Financial Wealth Managment LLC purchased a new stake in shares of Huntington Bancshares during the first quarter valued at approximately $29,000. YHB Investment Advisors Inc. purchased a new stake in Huntington Bancshares during the 1st quarter worth $30,000. Hazlett Burt & Watson Inc. lifted its holdings in Huntington Bancshares by 695.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after buying an additional 2,003 shares in the last quarter. Register Financial Advisors LLC purchased a new position in Huntington Bancshares in the 1st quarter valued at about $40,000. Finally, ORG Partners LLC grew its stake in shares of Huntington Bancshares by 354.9% during the second quarter. ORG Partners LLC now owns 3,325 shares of the bank’s stock valued at $44,000 after acquiring an additional 2,594 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, insider Helga Houston sold 11,288 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.02, for a total transaction of $169,545.76. Following the completion of the transaction, the insider now owns 618,832 shares in the company, valued at approximately $9,294,856.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Huntington Bancshares news, insider Helga Houston sold 11,288 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.02, for a total transaction of $169,545.76. Following the transaction, the insider now owns 618,832 shares of the company’s stock, valued at approximately $9,294,856.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kendall A. Kowalski sold 5,747 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $14.98, for a total transaction of $86,090.06. Following the completion of the sale, the insider now directly owns 65,899 shares of the company’s stock, valued at $987,167.02. The disclosure for this sale can be found here. Insiders have sold a total of 116,622 shares of company stock worth $1,762,904 in the last three months. 0.89% of the stock is owned by company insiders.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $14.60 on Tuesday. Huntington Bancshares Incorporated has a 1-year low of $9.25 and a 1-year high of $15.24. The firm has a market capitalization of $21.16 billion, a PE ratio of 13.15, a P/E/G ratio of 2.90 and a beta of 1.05. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. The business’s fifty day moving average price is $14.38 and its two-hundred day moving average price is $13.75.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.02. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $1.81 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same period last year, the firm posted $0.35 EPS. On average, research analysts expect that Huntington Bancshares Incorporated will post 1.19 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.25%. Huntington Bancshares’s dividend payout ratio is presently 55.86%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HBAN. Piper Sandler increased their price target on Huntington Bancshares from $11.50 to $13.50 and gave the company an “underweight” rating in a report on Monday, July 22nd. Royal Bank of Canada increased their target price on Huntington Bancshares from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Bank of America lifted their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Citigroup raised their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Jefferies Financial Group cut their target price on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average price target of $15.59.

Huntington Bancshares 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.