Huntington Bancshares Incorporated (NASDAQ:HBAN) Holdings Boosted by Franklin Resources Inc.

Franklin Resources Inc. grew its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,797,771 shares of the bank’s stock after purchasing an additional 55,602 shares during the quarter. Franklin Resources Inc.’s holdings in Huntington Bancshares were worth $27,901,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp grew its stake in Huntington Bancshares by 10.3% during the 3rd 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 last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Huntington Bancshares by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock valued at $921,778,000 after acquiring an additional 1,522,767 shares during the period. Geode Capital Management LLC grew its position 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 worth $540,422,000 after acquiring an additional 473,893 shares during the last quarter. FMR LLC increased its holdings in shares of Huntington Bancshares by 16.8% in the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock worth $348,672,000 after acquiring an additional 3,410,597 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Huntington Bancshares by 13.2% in the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after purchasing an additional 2,363,988 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Stock Performance

HBAN opened at $15.91 on Thursday. The business has a fifty day simple moving average of $16.77 and a 200-day simple moving average of $14.92. The firm has a market cap of $23.11 billion, a PE ratio of 15.30, a P/E/G ratio of 3.47 and a beta of 1.06. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. Huntington Bancshares Incorporated has a fifty-two week low of $12.02 and a fifty-two week high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the business posted $0.36 EPS. As a group, equities analysts predict that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio is 59.62%.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the transaction, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. The trade was a 5.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Helga Houston sold 6,455 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the sale, the insider now owns 558,342 shares of the company’s stock, valued at approximately $8,615,217.06. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,699 shares of company stock valued at $757,356 in the last three months. 0.92% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

HBAN has been the topic of several analyst reports. Piper Sandler raised their price target on shares of Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Citigroup raised their target price on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Barclays boosted their price target on Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of Huntington Bancshares in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.41.

About Huntington Bancshares

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.