Axa S.A. Decreases Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Posted by Defense World Staff on Mar 1st, 2023

Axa S.A. lowered its position in Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) by 3.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 47,206 shares of the bank’s stock after selling 1,896 shares during the period. Axa S.A.’s holdings in Huntington Bancshares were worth $623,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Huntington Bancshares by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 162,794,916 shares of the bank’s stock worth $2,380,062,000 after acquiring an additional 2,353,575 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Huntington Bancshares by 8.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 69,263,384 shares of the bank’s stock worth $833,239,000 after acquiring an additional 5,592,181 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Huntington Bancshares by 4.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 39,384,881 shares of the bank’s stock worth $575,807,000 after acquiring an additional 1,736,566 shares during the period. Boston Partners raised its holdings in shares of Huntington Bancshares by 3.9% during the 3rd quarter. Boston Partners now owns 39,202,051 shares of the bank’s stock worth $517,047,000 after acquiring an additional 1,474,339 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Huntington Bancshares by 2.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 29,347,090 shares of the bank’s stock worth $353,045,000 after acquiring an additional 838,229 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Huntington Bancshares

In other news, Director David L. Porteous sold 80,000 shares of the company’s stock in a transaction on Friday, January 27th. The shares were sold at an average price of $15.01, for a total value of $1,200,800.00. Following the completion of the transaction, the director now owns 62,845 shares in the company, valued at approximately $943,303.45. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.72% of the company’s stock.

Huntington Bancshares Trading Up 0.1 %

Shares of NASDAQ:HBAN opened at $15.32 on Wednesday. Huntington Bancshares Incorporated has a 52 week low of $11.67 and a 52 week high of $15.74. The company’s 50 day moving average is $14.76 and its two-hundred day moving average is $14.41. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. The company has a market cap of $22.11 billion, a PE ratio of 10.57, a P/E/G ratio of 0.31 and a beta of 1.11.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 20th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date is Friday, March 17th. Huntington Bancshares’s dividend payout ratio is presently 42.76%.

Analysts Set New Price Targets

HBAN has been the subject of a number of recent analyst reports. DA Davidson initiated coverage on Huntington Bancshares in a research report on Tuesday, December 20th. They set a “neutral” rating and a $15.00 price objective for the company. They noted that the move was a valuation call. Wolfe Research raised their price objective on Huntington Bancshares from $13.00 to $14.00 in a research report on Thursday, December 1st. Piper Sandler raised their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 15th. The Goldman Sachs Group raised their price objective on Huntington Bancshares to $17.50 in a research report on Wednesday, November 16th. Finally, Royal Bank of Canada lifted their target price on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, November 11th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.63.

About Huntington Bancshares

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Huntington Bancshares, Inc operates as a bank holding company. It provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, other financial products and services.