Nordea Investment Management AB Boosts Stake in Huntington Bancshares Incorporated $HBAN

Nordea Investment Management AB boosted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 24.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 175,754 shares of the bank’s stock after purchasing an additional 34,908 shares during the period. Nordea Investment Management AB’s holdings in Huntington Bancshares were worth $3,055,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Altrius Capital Management Inc acquired a new position in Huntington Bancshares in the 3rd quarter valued at about $4,894,000. Vanguard Group Inc. lifted its position in shares of Huntington Bancshares by 0.4% during the third quarter. Vanguard Group Inc. now owns 176,980,819 shares of the bank’s stock worth $3,056,459,000 after purchasing an additional 680,601 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Huntington Bancshares in the third quarter valued at approximately $3,746,000. Midwest Trust Co boosted its stake in shares of Huntington Bancshares by 12.7% in the third quarter. Midwest Trust Co now owns 1,510,977 shares of the bank’s stock valued at $26,095,000 after purchasing an additional 170,240 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Huntington Bancshares by 3.5% in the third quarter. JPMorgan Chase & Co. now owns 9,238,142 shares of the bank’s stock valued at $159,543,000 after purchasing an additional 314,544 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insiders Place Their Bets

In other news, VP Scott D. Kleinman sold 65,530 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $15.28, for a total transaction of $1,001,298.40. Following the sale, the vice president owned 481,676 shares of the company’s stock, valued at approximately $7,360,009.28. This trade represents a 11.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Amit Dhingra sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $18.50, for a total value of $185,000.00. Following the sale, the insider owned 155,634 shares of the company’s stock, valued at approximately $2,879,229. The trade was a 6.04% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have bought 27,700 shares of company stock worth $540,401 and have sold 108,986 shares worth $1,785,958. Insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Huntington Bancshares in a research note on Thursday, January 22nd. Argus boosted their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Raymond James Financial upped their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 23rd. Stephens increased their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, December 18th. Finally, Keefe, Bruyette & Woods decreased their target price on Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating for the company in a report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.63.

Huntington Bancshares Trading Down 2.3%

Shares of NASDAQ:HBAN opened at $15.08 on Friday. Huntington Bancshares Incorporated has a 52 week low of $11.91 and a 52 week high of $19.45. The company’s 50 day moving average is $16.98 and its two-hundred day moving average is $16.87. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80. The company has a market cap of $30.72 billion, a PE ratio of 10.85, a P/E/G ratio of 0.63 and a beta of 0.95.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $2.21 billion. Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.During the same quarter in the previous year, the firm posted $0.34 EPS. Equities analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.1%. Huntington Bancshares’s dividend payout ratio is presently 44.60%.

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.