Asahi Life Asset Management CO. LTD. purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,540 shares of the bank's stock, valued at approximately $338,000.
Other large investors also recently modified their holdings of the company. Smallwood Wealth Investment Management LLC acquired a new stake in Huntington Bancshares during the 1st quarter valued at approximately $29,000. LFA Lugano Financial Advisors SA bought a new position in Huntington Bancshares during the first quarter worth $31,000. Golden State Wealth Management LLC grew its holdings in Huntington Bancshares by 516.3% during the 1st quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock worth $33,000 after acquiring an additional 1,869 shares during the period. Wayfinding Financial LLC bought a new position in shares of Huntington Bancshares in the 1st quarter worth about $39,000. Finally, TruNorth Capital Management LLC acquired a new position in shares of Huntington Bancshares in the 1st quarter valued at about $40,000. 80.72% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, CFO Zachary Jacob Wasserman sold 59,060 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $14.36, for a total value of $848,101.60. Following the completion of the transaction, the chief financial officer directly owned 277,348 shares in the company, valued at approximately $3,982,717.28. The trade was a 17.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Marcy C. Hingst sold 13,700 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $15.79, for a total value of $216,323.00. Following the completion of the sale, the executive vice president directly owned 337,879 shares in the company, valued at approximately $5,335,109.41. The trade was a 3.90% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 214,375 shares of company stock valued at $3,049,277. Corporate insiders own 0.89% of the company's stock.
Huntington Bancshares Stock Performance
HBAN stock traded down $0.32 during mid-day trading on Monday, hitting $17.07. The company had a trading volume of 69,006,043 shares, compared to its average volume of 23,786,502. Huntington Bancshares Incorporated has a 12 month low of $11.91 and a 12 month high of $18.44. The stock's fifty day moving average price is $16.10 and its two-hundred day moving average price is $15.70. The firm has a market cap of $24.94 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 1.32 and a beta of 0.93. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.89 and a current ratio of 0.90.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. Huntington Bancshares had a return on equity of 11.44% and a net margin of 16.94%. During the same quarter in the prior year, the business earned $0.27 earnings per share. On average, analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.
Huntington Bancshares declared that its board has approved a share buyback plan on Thursday, April 17th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the bank to buy up to 5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.
Huntington Bancshares Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend was Tuesday, June 17th. Huntington Bancshares's dividend payout ratio (DPR) is presently 47.33%.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on HBAN shares. Cowen assumed coverage on Huntington Bancshares in a report on Wednesday, May 14th. They issued a "buy" rating for the company. JPMorgan Chase & Co. dropped their target price on shares of Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating on the stock in a research report on Thursday, April 3rd. TD Cowen assumed coverage on shares of Huntington Bancshares in a research note on Thursday, May 15th. They set a "buy" rating and a $20.00 target price on the stock. Wall Street Zen cut shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a research report on Sunday. Finally, Raymond James Financial restated a "strong-buy" rating and issued a $21.00 target price (up from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.48.
Read Our Latest Stock Analysis on Huntington Bancshares
Huntington Bancshares Profile
(
Free Report)
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.
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