Bank of New York Mellon Corp Has $138.05 Million Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Bank of New York Mellon Corp boosted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 0.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,197,114 shares of the bank's stock after purchasing an additional 22,831 shares during the quarter. Bank of New York Mellon Corp owned about 0.63% of Huntington Bancshares worth $138,049,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Smallwood Wealth Investment Management LLC bought a new stake in shares of Huntington Bancshares in the first quarter valued at approximately $29,000. LFA Lugano Financial Advisors SA bought a new stake in shares of Huntington Bancshares in the first quarter valued at approximately $31,000. Golden State Wealth Management LLC lifted its position in Huntington Bancshares by 516.3% in the first quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock worth $33,000 after purchasing an additional 1,869 shares during the period. Wayfinding Financial LLC bought a new position in Huntington Bancshares in the first quarter worth $39,000. Finally, Transce3nd LLC bought a new position in Huntington Bancshares in the fourth quarter worth $48,000. Institutional investors own 80.72% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on HBAN shares. Truist Financial raised their target price on Huntington Bancshares from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Wolfe Research raised Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 target price for the company in a research report on Thursday, July 3rd. Royal Bank Of Canada dropped their price objective on Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Cowen assumed coverage on Huntington Bancshares in a research note on Wednesday, May 14th. They set a "buy" rating for the company. Finally, Citigroup increased their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Huntington Bancshares presently has an average rating of "Moderate Buy" and an average price target of $18.48.

Insider Transactions at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 59,060 shares of Huntington Bancshares stock in a transaction dated Wednesday, April 30th. The stock was 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 directly owned 277,348 shares in the company, valued at $3,982,717.28. This trade represents a 17.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brantley J. Standridge sold 70,417 shares of the business's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $13.69, for a total value of $964,008.73. Following the transaction, the vice president owned 326,456 shares of the company's stock, valued at $4,469,182.64. The trade was a 17.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 214,375 shares of company stock valued at $3,049,277. 0.89% of the stock is currently owned by insiders.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN traded down $0.17 during midday trading on Friday, reaching $17.39. The company's stock had a trading volume of 19,466,724 shares, compared to its average volume of 18,985,327. Huntington Bancshares Incorporated has a fifty-two week low of $11.92 and a fifty-two week high of $18.45. The company has a market capitalization of $25.40 billion, a P/E ratio of 13.27, a P/E/G ratio of 1.32 and a beta of 0.93. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.90 and a quick ratio of 0.89. The business's fifty day simple moving average is $16.10 and its 200-day simple moving average is $15.71.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.89 billion. Huntington Bancshares had a return on equity of 11.44% and a net margin of 16.94%. During the same period last year, the company earned $0.27 earnings per share. As a group, equities research analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th were given a $0.155 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.57%. Huntington Bancshares's payout ratio is 47.33%.

Huntington Bancshares declared that its board has initiated a stock buyback program on Thursday, April 17th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the bank to purchase up to 5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

Huntington Bancshares 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.