Allspring Global Investments Holdings LLC Increases Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Allspring Global Investments Holdings LLC raised its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 11.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,732 shares of the bank’s stock after acquiring an additional 7,976 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Huntington Bancshares were worth $1,143,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of HBAN. Boston Partners grew its stake in Huntington Bancshares by 20.4% in the 1st quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock valued at $783,215,000 after purchasing an additional 9,533,511 shares during the period. National Bank of Canada FI increased its holdings in Huntington Bancshares by 832.7% during the first quarter. National Bank of Canada FI now owns 3,337,625 shares of the bank’s stock worth $46,927,000 after buying an additional 2,979,768 shares during the last quarter. Scout Investments Inc. bought a new stake in Huntington Bancshares in the first quarter worth about $35,428,000. Point72 Asset Management L.P. boosted its stake in Huntington Bancshares by 194.8% in the second quarter. Point72 Asset Management L.P. now owns 3,203,789 shares of the bank’s stock valued at $42,226,000 after acquiring an additional 2,116,839 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Huntington Bancshares by 531.0% during the 2nd quarter. SG Americas Securities LLC now owns 1,150,690 shares of the bank’s stock valued at $15,166,000 after acquiring an additional 968,331 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $15.59 on Friday. The stock has a market cap of $22.64 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 3.17 and a beta of 1.04. Huntington Bancshares Incorporated has a fifty-two week low of $9.49 and a fifty-two week high of $16.03. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. The business has a fifty day moving average of $14.85 and a 200-day moving average of $14.04.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same quarter last year, the firm earned $0.36 earnings per share. As a group, analysts predict that Huntington Bancshares Incorporated will post 1.2 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.98%. Huntington Bancshares’s dividend payout ratio is currently 59.62%.

Insider Activity

In other news, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the sale, the insider now directly owns 558,342 shares of the company’s stock, valued at approximately $8,615,217.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.92% of the company’s stock.

Wall Street Analysts Forecast Growth

HBAN has been the topic of several research reports. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Robert W. Baird lowered shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price target for the company. in a research report on Friday, July 26th. Citigroup upped their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Bank of America raised their price target on Huntington Bancshares from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Argus lifted their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.09.

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.