Asset Management One Co. Ltd. Grows Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Asset Management One Co. Ltd. increased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 596,085 shares of the bank's stock after buying an additional 37,399 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Huntington Bancshares were worth $8,947,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. National Bank of Canada FI grew its holdings in Huntington Bancshares by 220.9% during the fourth quarter. National Bank of Canada FI now owns 3,666,949 shares of the bank's stock worth $59,661,000 after acquiring an additional 2,524,077 shares during the period. Pictet Asset Management Holding SA boosted its position in Huntington Bancshares by 17.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 850,139 shares of the bank's stock worth $13,832,000 after purchasing an additional 129,106 shares in the last quarter. Fisher Asset Management LLC purchased a new stake in Huntington Bancshares in the 4th quarter worth approximately $189,000. IFP Advisors Inc grew its stake in shares of Huntington Bancshares by 120.6% during the 4th quarter. IFP Advisors Inc now owns 4,503 shares of the bank's stock worth $73,000 after purchasing an additional 2,462 shares during the period. Finally, QRG Capital Management Inc. increased its holdings in shares of Huntington Bancshares by 11.9% during the 1st quarter. QRG Capital Management Inc. now owns 25,827 shares of the bank's stock valued at $388,000 after purchasing an additional 2,751 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Zachary Jacob Wasserman sold 59,060 shares of the company's stock in a transaction dated 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 sale, the chief financial officer now owns 277,348 shares of the company's stock, valued at approximately $3,982,717.28. This represents a 17.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Marcy C. Hingst sold 13,700 shares of Huntington Bancshares stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $15.79, for a total transaction of $216,323.00. Following the transaction, the executive vice president now directly owns 337,879 shares in the company, valued at $5,335,109.41. This trade represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 214,375 shares of company stock worth $3,049,277 over the last ninety days. Corporate insiders own 0.89% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on HBAN shares. Jefferies Financial Group started coverage on shares of Huntington Bancshares in a report on Wednesday, May 21st. They set a "buy" rating and a $20.00 price target on the stock. Truist Financial increased their target price on shares of Huntington Bancshares from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Keefe, Bruyette & Woods cut their price target on Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating for the company in a research note on Monday, April 21st. Robert W. Baird raised Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 price target for the company in a report on Friday, March 7th. Finally, TD Cowen started coverage on Huntington Bancshares in a report on Thursday, May 15th. They issued a "buy" rating and a $20.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $18.08.

Huntington Bancshares Price Performance

HBAN stock traded down $0.04 during midday trading on Friday, reaching $16.60. The stock had a trading volume of 36,523,154 shares, compared to its average volume of 18,752,495. Huntington Bancshares Incorporated has a 52-week low of $11.92 and a 52-week high of $18.45. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.98. The company's fifty day simple moving average is $15.51 and its 200 day simple moving average is $15.65. The company has a market cap of $24.25 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 1.27 and a beta of 0.92.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.94% and a return on equity of 11.44%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the firm posted $0.27 earnings per share. As a group, sell-side analysts predict 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 repurchase plan on Thursday, April 17th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the bank to repurchase up to 5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its stock is undervalued.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Tuesday, June 17th. Huntington Bancshares's dividend payout ratio is currently 47.33%.

About Huntington Bancshares

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.