Thrivent Financial for Lutherans Increases Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Thrivent Financial for Lutherans increased its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 9.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 127,518 shares of the bank’s stock after acquiring an additional 11,452 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Huntington Bancshares were worth $1,877,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Heritage Wealth Management Inc. purchased a new stake in shares of Huntington Bancshares during the second quarter worth about $744,000. Robeco Institutional Asset Management B.V. increased its stake in Huntington Bancshares by 40.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 192,984 shares of the bank’s stock worth $2,837,000 after buying an additional 55,865 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Huntington Bancshares by 531.0% during the second quarter. SG Americas Securities LLC now owns 1,150,690 shares of the bank’s stock valued at $15,166,000 after acquiring an additional 968,331 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Huntington Bancshares by 13.2% in the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after acquiring an additional 2,363,988 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of Huntington Bancshares by 221.8% in the first quarter. Cetera Investment Advisers now owns 756,408 shares of the bank’s stock worth $10,552,000 after acquiring an additional 521,372 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $18.00 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. The company has a market cap of $26.15 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 3.63 and a beta of 1.03. The stock’s 50-day moving average is $15.93 and its two-hundred day moving average is $14.55. Huntington Bancshares Incorporated has a 1-year low of $10.73 and a 1-year high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the firm earned $0.36 earnings per share. Analysts forecast that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.44%. Huntington Bancshares’s payout ratio is 59.62%.

Analysts Set New Price Targets

Several research firms recently commented on HBAN. Piper Sandler increased their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the company an “underweight” rating in a research note on Friday, October 18th. Citigroup increased their target price on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group boosted their price target on shares of Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 price objective on shares of Huntington Bancshares in a report on Friday, October 18th. Finally, Barclays raised their target price on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $16.62.

Insider Buying and Selling

In related news, insider Helga Houston sold 6,455 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the sale, the insider now directly owns 558,342 shares in the company, valued at approximately $8,615,217.06. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the sale, the chief financial officer now owns 259,943 shares in the company, valued at $4,582,795.09. This represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,699 shares of company stock valued at $757,356 over the last ninety days. Corporate insiders own 0.89% of the company’s stock.

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.