Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 9,500 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 363,263 shares of the bank’s stock after selling 9,500 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Huntington Bancshares were worth $5,910,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Atlantic Family Wealth LLC acquired a new stake in Huntington Bancshares during the fourth quarter worth about $204,000. Pinnacle Financial Partners Inc lifted its position in shares of Huntington Bancshares by 59.8% in the 4th quarter. Pinnacle Financial Partners Inc now owns 19,770 shares of the bank’s stock worth $322,000 after acquiring an additional 7,397 shares during the period. Bell Bank lifted its position in shares of Huntington Bancshares by 11.0% in the 4th quarter. Bell Bank now owns 558,470 shares of the bank’s stock worth $9,086,000 after acquiring an additional 55,163 shares during the period. Wolverine Asset Management LLC grew its holdings in shares of Huntington Bancshares by 141.7% during the 4th quarter. Wolverine Asset Management LLC now owns 51,308 shares of the bank’s stock worth $835,000 after purchasing an additional 30,081 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in shares of Huntington Bancshares by 6.2% during the fourth quarter. Handelsbanken Fonder AB now owns 427,845 shares of the bank’s stock valued at $6,961,000 after purchasing an additional 25,017 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HBAN has been the subject of several research reports. Stephens reaffirmed an “equal weight” rating and issued a $18.50 target price on shares of Huntington Bancshares in a research report on Friday, February 7th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $20.00 price objective (up from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Truist Financial upped their target price on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Huntington Bancshares in a report on Tuesday, January 21st. Finally, Piper Sandler dropped their target price on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $18.06.

Huntington Bancshares Stock Performance

Huntington Bancshares stock opened at $16.02 on Tuesday. The stock has a 50-day simple moving average of $16.66 and a 200 day simple moving average of $16.00. The stock has a market capitalization of $23.29 billion, a price-to-earnings ratio of 13.02, a P/E/G ratio of 1.33 and a beta of 1.07. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. Huntington Bancshares Incorporated has a 12-month low of $12.05 and a 12-month high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, topping 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%. During the same period in the prior year, the firm earned $0.27 earnings per share. On average, research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is 50.41%.

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.