Handelsbanken Fonder AB Grows Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Handelsbanken Fonder AB increased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.2% during the 4th quarter, Holdings Channel reports. The firm owned 427,845 shares of the bank’s stock after purchasing an additional 25,017 shares during the quarter. Handelsbanken Fonder AB’s holdings in Huntington Bancshares were worth $6,961,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arvest Bank Trust Division purchased a new position in Huntington Bancshares during the third quarter worth about $2,381,000. Mediolanum International Funds Ltd purchased a new position in Huntington Bancshares during the fourth quarter worth about $422,000. Donoghue Forlines LLC purchased a new position in Huntington Bancshares during the fourth quarter worth about $1,460,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Huntington Bancshares by 5.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock worth $12,414,000 after purchasing an additional 44,662 shares during the last quarter. Finally, Petiole USA ltd purchased a new position in Huntington Bancshares during the third quarter worth about $3,454,000. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Down 1.6 %

HBAN opened at $16.15 on Friday. Huntington Bancshares Incorporated has a 12 month low of $12.05 and a 12 month high of $18.44. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The company has a market cap of $23.48 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. The company has a 50 day moving average of $16.68 and a 200 day moving average of $15.96.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the previous year, the firm posted $0.27 EPS. On average, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is presently 50.41%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $20.00 target price (up from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th. Royal Bank of Canada reissued an “outperform” rating and set a $20.00 target price on shares of Huntington Bancshares in a research report on Tuesday, January 21st. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. The Goldman Sachs Group increased their target price on shares of Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.06.

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.