Canada Pension Plan Investment Board Has $44.08 Million Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Canada Pension Plan Investment Board lifted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 174.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,709,065 shares of the bank’s stock after purchasing an additional 1,721,507 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Huntington Bancshares were worth $44,076,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of HBAN. Creative Capital Management Investments LLC increased its holdings in Huntington Bancshares by 17,533.3% in the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock valued at $26,000 after buying an additional 1,578 shares during the period. Y.D. More Investments Ltd increased its stake in Huntington Bancshares by 126.8% in the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock valued at $30,000 after acquiring an additional 1,023 shares during the last quarter. Midwest Capital Advisors LLC acquired a new position in Huntington Bancshares during the fourth quarter valued at approximately $37,000. Asset Dedication LLC lifted its stake in Huntington Bancshares by 70.0% during the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock worth $50,000 after purchasing an additional 1,260 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Huntington Bancshares by 27.2% in the 4th quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock valued at $53,000 after purchasing an additional 702 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Zachary Jacob Wasserman sold 38,451 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.38, for a total value of $552,925.38. Following the completion of the sale, the chief financial officer now directly owns 335,538 shares in the company, valued at $4,825,036.44. This trade represents a 10.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Brendan A. Lawlor sold 3,521 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $15.25, for a total value of $53,695.25. Following the transaction, the vice president now directly owns 47,950 shares in the company, valued at approximately $731,237.50. This trade represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,781 shares of company stock worth $1,631,151. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Trading Up 3.0 %

NASDAQ:HBAN opened at $13.66 on Friday. Huntington Bancshares Incorporated has a 52 week low of $11.92 and a 52 week high of $18.45. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The firm’s fifty day moving average is $14.86 and its 200-day moving average is $16.00. The firm has a market cap of $19.96 billion, a P/E ratio of 11.11, a P/E/G ratio of 1.33 and a beta of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 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%. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the prior year, the firm posted $0.27 earnings per share. Equities analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares declared that its Board of Directors has authorized a share repurchase program on Thursday, April 17th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the bank to purchase up to 5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.54%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.41%.

Analysts Set New Price Targets

Several brokerages recently weighed in on HBAN. Piper Sandler dropped their price objective on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research report on Tuesday, January 21st. Morgan Stanley dropped their target price 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. Baird R W raised shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. Citigroup cut their target price on shares of Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $17.94.

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.