Loomis Sayles & Co. L P Makes New $70,000 Investment in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Loomis Sayles & Co. L P purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,296 shares of the bank’s stock, valued at approximately $70,000.

Other hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Huntington Bancshares during the fourth quarter worth about $150,444,000. State Street Corp lifted its holdings in shares of 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 acquiring an additional 7,439,909 shares during the period. Amundi boosted its position in shares of Huntington Bancshares by 26.7% in the fourth quarter. Amundi now owns 17,435,207 shares of the bank’s stock worth $286,460,000 after acquiring an additional 3,671,235 shares during the last quarter. FMR LLC grew its holdings in Huntington Bancshares by 16.8% in the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock valued at $348,672,000 after purchasing an additional 3,410,597 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Huntington Bancshares by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank’s stock worth $1,056,353,000 after purchasing an additional 2,218,020 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Trading Down 2.2 %

NASDAQ:HBAN opened at $14.79 on Monday. The stock has a market cap of $21.60 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. Huntington Bancshares Incorporated has a one year low of $12.05 and a one year high of $18.45. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The business’s 50-day simple moving average is $16.07 and its 200 day simple moving average is $16.16.

Huntington Bancshares (NASDAQ:HBAN) last announced 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 business posted $0.27 EPS. As a group, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business 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 4.19%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

Insider Transactions at Huntington Bancshares

In related news, VP Brendan A. Lawlor sold 3,521 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $15.25, for a total value of $53,695.25. Following the completion of the sale, the vice president now directly owns 47,950 shares of the company’s stock, valued at $731,237.50. The trade was a 6.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total value of $552,925.38. Following the sale, the chief financial officer now owns 335,538 shares in the company, valued at $4,825,036.44. The trade was a 10.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,781 shares of company stock valued at $1,631,151. Insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Truist Financial lifted their price objective on 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 reissued an “outperform” rating and set a $20.00 target price on shares of Huntington Bancshares in a research report on Tuesday, January 21st. Piper Sandler reduced their price target on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 21st. Finally, Baird R W upgraded shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.18.

Huntington Bancshares Company 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.