Nomura Asset Management Co. Ltd. Boosts Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Nomura Asset Management Co. Ltd. raised its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 448,050 shares of the bank’s stock after purchasing an additional 2,413 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Huntington Bancshares were worth $7,290,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Creative Capital Management Investments LLC boosted its holdings in shares of Huntington Bancshares by 17,533.3% in the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock valued at $26,000 after buying an additional 1,578 shares in the last quarter. Y.D. More Investments Ltd boosted its stake in Huntington Bancshares by 126.8% in the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock valued at $30,000 after acquiring an additional 1,023 shares in the last quarter. Midwest Capital Advisors LLC purchased a new position in shares of Huntington Bancshares during the fourth quarter worth about $37,000. Asset Dedication LLC lifted its holdings in shares of Huntington Bancshares by 70.0% in the 4th quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock valued at $50,000 after purchasing an additional 1,260 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in Huntington Bancshares by 27.2% in the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock valued at $53,000 after buying an additional 702 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Activity

In related news, VP Scott D. Kleinman sold 69,088 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.67, for a total value of $1,013,520.96. Following the sale, the vice president now directly owns 453,129 shares of the company’s stock, valued at approximately $6,647,402.43. This represents a 13.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of Huntington Bancshares stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.38, for a total transaction of $552,925.38. Following the transaction, the chief financial officer now owns 335,538 shares of the company’s stock, valued at approximately $4,825,036.44. The trade was a 10.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,781 shares of company stock worth $1,631,151 over the last 90 days. 0.89% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HBAN. Stephens restated an “equal weight” rating and set a $18.50 target price on shares of Huntington Bancshares in a research report on Friday, February 7th. Barclays lifted their price objective on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Truist Financial increased their target price on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 price target on shares of Huntington Bancshares in a research report on Tuesday, January 21st. Finally, Citigroup decreased their price objective on Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.18.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $15.01 on Tuesday. The company has a market capitalization of $21.93 billion, a PE ratio of 12.20, a P/E/G ratio of 1.33 and a beta of 1.07. Huntington Bancshares Incorporated has a 52-week low of $12.05 and a 52-week high of $18.45. The company has a 50-day simple moving average of $16.03 and a 200-day simple moving average of $16.16. 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 posted its quarterly 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 net margin of 16.23% and a return on equity of 11.23%. During the same quarter in the prior year, the business posted $0.27 earnings per share. Equities research analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.155 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 4.13%. Huntington Bancshares’s payout ratio is 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.