Carlson Capital Management Raises Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Carlson Capital Management boosted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 163,575 shares of the bank’s stock after buying an additional 692 shares during the period. Carlson Capital Management’s holdings in Huntington Bancshares were worth $2,661,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp lifted its holdings in Huntington Bancshares by 10.3% in the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after buying an additional 7,439,909 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Huntington Bancshares by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank’s stock valued at $1,056,353,000 after purchasing an additional 2,218,020 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Huntington Bancshares by 1.3% during the third quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock valued at $540,422,000 after purchasing an additional 473,893 shares during the last quarter. FMR LLC lifted its holdings in shares of Huntington Bancshares by 16.8% during the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock valued at $348,672,000 after purchasing an additional 3,410,597 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Huntington Bancshares by 7.4% during the fourth quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank’s stock valued at $355,094,000 after purchasing an additional 1,506,606 shares during the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Trading Up 1.0 %

Shares of HBAN stock opened at $14.90 on Tuesday. Huntington Bancshares Incorporated has a 1 year low of $12.05 and a 1 year high of $18.45. The firm has a fifty day moving average price of $16.34 and a 200-day moving average price of $16.13. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The company has a market cap of $21.77 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.33 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter in the prior year, the business posted $0.27 earnings per share. As a group, equities analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

Insider Buying and Selling

In other Huntington Bancshares news, VP Scott D. Kleinman sold 69,088 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the completion of the transaction, the vice president now owns 453,129 shares of the company’s stock, valued at $6,647,402.43. This represents a 13.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.38, for a total transaction of $552,925.38. Following the transaction, the chief financial officer now directly owns 335,538 shares of the company’s stock, valued at $4,825,036.44. This trade represents a 10.28 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Baird R W upgraded shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. Stephens reiterated an “equal weight” rating and set a $18.50 target price on shares of Huntington Bancshares in a report on Friday, February 7th. Piper Sandler lowered their target price on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a report on Tuesday, January 21st. Morgan Stanley decreased their price objective on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $20.00 price objective on shares of Huntington Bancshares in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average price target of $18.35.

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.