Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 17.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 850,139 shares of the bank’s stock after buying an additional 129,106 shares during the period. Pictet Asset Management Holding SA owned about 0.06% of Huntington Bancshares worth $13,832,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in Huntington Bancshares during the 4th quarter worth $302,826,000. Raymond James Financial Inc. purchased a new stake in shares of Huntington Bancshares in the 4th quarter valued at about $150,444,000. State Street Corp boosted its position in shares of Huntington Bancshares by 10.3% in the 3rd quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock valued at $1,179,319,000 after purchasing an additional 7,439,909 shares during the period. Amundi grew its stake in Huntington Bancshares by 26.7% during the 4th quarter. Amundi now owns 17,435,207 shares of the bank’s stock worth $286,460,000 after buying an additional 3,671,235 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in 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 worth $1,056,353,000 after buying an additional 2,218,020 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Scott D. Kleinman sold 69,088 shares of Huntington Bancshares 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 sale, the vice president now directly owns 453,129 shares in the company, valued at $6,647,402.43. The trade was a 13.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $4,825,036.44. The trade was a 10.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,781 shares of company stock worth $1,631,151 over the last ninety days. 0.89% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased their price objective on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Stephens reissued an “equal weight” rating and set a $18.50 price objective on shares of Huntington Bancshares in a research report on Friday, February 7th. Baird R W raised shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. Truist Financial increased their target price on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Finally, StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $18.18.

Huntington Bancshares Stock Performance

HBAN opened at $14.95 on Wednesday. The stock’s 50 day simple moving average is $15.99 and its 200 day simple moving average is $16.17. The stock has a market cap of $21.84 billion, a P/E ratio of 12.15, a P/E/G ratio of 1.33 and a beta of 1.07. Huntington Bancshares Incorporated has a 1-year low of $12.05 and a 1-year high of $18.45. 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 (NASDAQ:HBAN) last announced its quarterly earnings results 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 return on equity of 11.23% and a net margin of 16.23%. During the same period in the previous year, the company earned $0.27 earnings per share. As a group, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.15%. The ex-dividend date was Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) 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.