Sumitomo Mitsui DS Asset Management Company Ltd Cuts Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Sumitomo Mitsui DS Asset Management Company Ltd decreased its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 32.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 161,123 shares of the bank’s stock after selling 77,507 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Huntington Bancshares were worth $2,621,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Strategic Financial Concepts LLC purchased a new stake in shares of Huntington Bancshares during the 4th quarter valued at $359,000. GHP Investment Advisors Inc. grew its position in Huntington Bancshares by 3.4% during the fourth quarter. GHP Investment Advisors Inc. now owns 169,527 shares of the bank’s stock valued at $2,758,000 after acquiring an additional 5,535 shares during the period. YANKCOM Partnership acquired a new stake in Huntington Bancshares during the fourth quarter worth about $583,000. Centennial Wealth Advisory LLC raised its holdings in shares of Huntington Bancshares by 5.2% in the 4th quarter. Centennial Wealth Advisory LLC now owns 42,360 shares of the bank’s stock worth $689,000 after purchasing an additional 2,093 shares during the period. Finally, Choreo LLC lifted its stake in shares of Huntington Bancshares by 5.1% in the 4th quarter. Choreo LLC now owns 37,722 shares of the bank’s stock valued at $621,000 after purchasing an additional 1,825 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analysts Set New Price Targets

HBAN has been the topic of several research reports. Keefe, Bruyette & Woods raised their price target on shares of Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. DA Davidson raised their target price on shares of Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research note on Monday, October 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price target on shares of Huntington Bancshares in a research report on Tuesday, January 21st. Truist Financial raised their price objective on Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, Stephens reaffirmed an “equal weight” rating and issued a $18.50 target price on shares of Huntington Bancshares in a research report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.06.

Insiders Place Their Bets

In other news, CFO Zachary Jacob Wasserman sold 8,644 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the transaction, the chief financial officer now owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the sale, the vice president now directly owns 496,076 shares of the company’s stock, valued at $8,765,662.92. The trade was a 5.45 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by insiders.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $16.92 on Monday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a 12-month low of $12.05 and a 12-month high of $18.44. The business’s fifty day moving average price is $16.84 and its 200 day moving average price is $15.82. The stock has a market capitalization of $24.58 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share 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 firm posted $0.27 earnings per share. Equities research analysts forecast that Huntington Bancshares Incorporated will post 1.4 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 annualized dividend and a yield of 3.66%. Huntington Bancshares’s dividend payout ratio is presently 50.41%.

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.