PGGM Investments Invests $590,000 in Huntington Bancshares Incorporated (NASDAQ:HBAN)

PGGM Investments purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 36,254 shares of the bank’s stock, valued at approximately $590,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Creative Capital Management Investments LLC raised its position in shares of Huntington Bancshares by 17,533.3% during the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock worth $26,000 after purchasing an additional 1,578 shares during the period. Y.D. More Investments Ltd raised its position in shares of Huntington Bancshares by 126.8% during the 4th quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock worth $30,000 after purchasing an additional 1,023 shares during the period. Midwest Capital Advisors LLC acquired a new stake in shares of Huntington Bancshares during the 4th quarter worth approximately $37,000. Asset Dedication LLC grew its holdings in Huntington Bancshares by 70.0% in the 4th quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock worth $50,000 after buying an additional 1,260 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in Huntington Bancshares by 27.2% in the 4th quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock worth $53,000 after buying an additional 702 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on HBAN shares. Truist Financial increased their price objective on Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 price objective on shares of Huntington Bancshares in a report on Tuesday, January 21st. Morgan Stanley decreased their price objective on Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday. Barclays increased their price target on Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Finally, Baird R W raised Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average target price of $18.35.

Huntington Bancshares Price Performance

HBAN opened at $14.75 on Friday. The stock has a fifty day moving average of $16.37 and a 200-day moving average of $16.11. The firm has a market capitalization of $21.44 billion, a P/E ratio of 11.99, a PEG ratio of 1.33 and a beta of 1.07. Huntington Bancshares Incorporated has a 12-month low of $12.05 and a 12-month high of $18.45. 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 (NASDAQ:HBAN) last released its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) 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 last year, the company earned $0.27 earnings per share. Equities analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.20%. Huntington Bancshares’s payout ratio is currently 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.