Fifth Third Bancorp Acquires 41,431 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Posted by Defense World Staff on Apr 8th, 2023

Fifth Third Bancorp lifted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) by 34.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 160,777 shares of the bank’s stock after purchasing an additional 41,431 shares during the period. Fifth Third Bancorp’s holdings in Huntington Bancshares were worth $2,267,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in HBAN. American Century Companies Inc. increased its stake in Huntington Bancshares by 11.8% during the first quarter. American Century Companies Inc. now owns 189,174 shares of the bank’s stock valued at $2,765,000 after acquiring an additional 19,959 shares during the period. D.A. Davidson & CO. bought a new position in Huntington Bancshares during the first quarter valued at about $315,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Huntington Bancshares by 309.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 10,001 shares of the bank’s stock valued at $146,000 after acquiring an additional 7,558 shares during the period. Panagora Asset Management Inc. increased its stake in Huntington Bancshares by 40.9% during the first quarter. Panagora Asset Management Inc. now owns 104,361 shares of the bank’s stock valued at $1,526,000 after acquiring an additional 30,296 shares during the period. Finally, Aviva PLC increased its stake in Huntington Bancshares by 58.2% during the first quarter. Aviva PLC now owns 798,754 shares of the bank’s stock valued at $11,678,000 after acquiring an additional 293,944 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HBAN has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their price objective on Huntington Bancshares from $13.50 to $11.00 in a research note on Thursday. Morgan Stanley lowered their price objective on Huntington Bancshares from $18.00 to $13.00 and set an “overweight” rating on the stock in a research note on Wednesday. Raymond James lowered their price objective on Huntington Bancshares from $18.00 to $15.00 and set a “strong-buy” rating on the stock in a research note on Thursday. DA Davidson initiated coverage on Huntington Bancshares in a research note on Tuesday, December 20th. They issued a “neutral” rating and a $15.00 price objective on the stock. They noted that the move was a valuation call. Finally, The Goldman Sachs Group lowered their price objective on Huntington Bancshares from $16.50 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, March 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Huntington Bancshares has an average rating of “Hold” and a consensus target price of $14.27.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares 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 transaction of $1,200,800.00. Following the completion of the sale, the director now owns 62,845 shares in the company, valued at approximately $943,303.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Up 1.4 %

NASDAQ:HBAN opened at $11.19 on Friday. The stock’s fifty day moving average price is $13.46 and its two-hundred day moving average price is $14.05. Huntington Bancshares Incorporated has a 52-week low of $9.94 and a 52-week high of $15.74. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $16.22 billion, a price-to-earnings ratio of 7.72, a P/E/G ratio of 5.60 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN – Get Rating) last posted its quarterly earnings data on Friday, January 20th. The bank reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.02. Huntington Bancshares had a return on equity of 14.79% and a net margin of 28.15%. The firm had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.95 billion. On average, analysts anticipate that Huntington Bancshares Incorporated will post 1.48 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Monday, March 20th were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 5.54%. The ex-dividend date of this dividend was Friday, March 17th. Huntington Bancshares’s payout ratio is 42.76%.

Huntington Bancshares Profile

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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.