Pinnacle Financial Partners Inc Raises Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Pinnacle Financial Partners Inc boosted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 59.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 19,770 shares of the bank’s stock after purchasing an additional 7,397 shares during the period. Pinnacle Financial Partners Inc’s holdings in Huntington Bancshares were worth $322,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Bell Bank boosted its position in Huntington Bancshares by 11.0% in the fourth quarter. Bell Bank now owns 558,470 shares of the bank’s stock valued at $9,086,000 after buying an additional 55,163 shares during the last quarter. Wolverine Asset Management LLC boosted its position in Huntington Bancshares by 141.7% in 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. Handelsbanken Fonder AB boosted its position in Huntington Bancshares by 6.2% in the 4th quarter. Handelsbanken Fonder AB now owns 427,845 shares of the bank’s stock worth $6,961,000 after purchasing an additional 25,017 shares in the last quarter. Ieq Capital LLC boosted its position in Huntington Bancshares by 57.5% in the 4th quarter. Ieq Capital LLC now owns 100,215 shares of the bank’s stock worth $1,630,000 after purchasing an additional 36,580 shares in the last quarter. Finally, Good Life Advisors LLC purchased a new stake in Huntington Bancshares in the 4th quarter worth approximately $201,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on HBAN shares. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. Stephens restated an “equal weight” rating and issued a $18.50 price objective on shares of Huntington Bancshares in a research report on Friday, February 7th. Piper Sandler lowered their price objective on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 21st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $20.00 target price (up from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th. Finally, Truist Financial upped their target price on Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $18.06.

Huntington Bancshares Stock Down 1.6 %

NASDAQ HBAN opened at $16.15 on Monday. The business has a fifty day moving average price of $16.68 and a 200 day moving average price of $15.98. Huntington Bancshares Incorporated has a one year low of $12.05 and a one year high of $18.44. 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 company has a market cap of $23.48 billion, a P/E ratio of 13.13, a P/E/G ratio of 1.33 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping 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 in the prior year, the firm posted $0.27 earnings per share. Research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.41%.

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.