Principal Financial Group Inc. Cuts Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Principal Financial Group Inc. cut its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,657,335 shares of the bank’s stock after selling 86,022 shares during the period. Principal Financial Group Inc. owned about 0.11% of Huntington Bancshares worth $26,965,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of HBAN. Allspring Global Investments Holdings LLC increased its stake in Huntington Bancshares by 11.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 77,732 shares of the bank’s stock worth $1,143,000 after purchasing an additional 7,976 shares during the period. Foundations Investment Advisors LLC increased its stake in shares of Huntington Bancshares by 18.0% during the third quarter. Foundations Investment Advisors LLC now owns 27,904 shares of the bank’s stock worth $410,000 after buying an additional 4,257 shares during the period. IFM Investors Pty Ltd increased its stake in shares of Huntington Bancshares by 5.1% during the third quarter. IFM Investors Pty Ltd now owns 305,394 shares of the bank’s stock worth $4,489,000 after buying an additional 14,928 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Huntington Bancshares by 1,277.0% during the third quarter. Assenagon Asset Management S.A. now owns 747,545 shares of the bank’s stock worth $10,989,000 after buying an additional 693,258 shares during the period. Finally, Dakota Wealth Management increased its stake in shares of Huntington Bancshares by 7.4% during the third quarter. Dakota Wealth Management now owns 15,225 shares of the bank’s stock worth $224,000 after buying an additional 1,045 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Price Performance

HBAN stock opened at $16.15 on Friday. The company has a market capitalization of $23.48 billion, a P/E ratio of 13.13, a PEG ratio of 1.33 and a beta of 1.07. Huntington Bancshares Incorporated has a twelve month low of $12.05 and a twelve month high of $18.44. The business has a 50 day simple moving average of $16.68 and a 200-day simple moving average of $15.96. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, beating the consensus estimate 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 in the prior year, the company earned $0.27 earnings per share. As a group, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 dividend yield of 3.84%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is presently 50.41%.

Analyst Ratings Changes

A number of analysts recently weighed in on HBAN shares. Stephens restated an “equal weight” rating and set a $18.50 target price on shares of Huntington Bancshares in a research note on Friday, February 7th. Royal Bank of Canada restated an “outperform” rating and set a $20.00 target price on shares of Huntington Bancshares in a research note on Tuesday, January 21st. The Goldman Sachs Group upped their target price on shares of Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods upped their target price on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Evercore ISI upped their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.06.

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.