Fifth Third Bancorp Has $1.88 Million Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Fifth Third Bancorp lifted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 41.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,450 shares of the bank's stock after purchasing an additional 36,546 shares during the period. Fifth Third Bancorp's holdings in Huntington Bancshares were worth $1,883,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arvest Investments Inc. lifted its position in shares of Huntington Bancshares by 13.3% during the 1st quarter. Arvest Investments Inc. now owns 140,406 shares of the bank's stock valued at $2,107,000 after acquiring an additional 16,465 shares during the last quarter. Donaldson Capital Management LLC boosted its position in shares of Huntington Bancshares by 5.7% in the 1st quarter. Donaldson Capital Management LLC now owns 63,892 shares of the bank's stock valued at $959,000 after purchasing an additional 3,448 shares during the period. CX Institutional increased its stake in Huntington Bancshares by 6.0% in the 1st quarter. CX Institutional now owns 20,337 shares of the bank's stock worth $305,000 after purchasing an additional 1,145 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Huntington Bancshares by 3,352.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,069,450 shares of the bank's stock worth $31,062,000 after buying an additional 2,009,513 shares during the period. Finally, Accurate Wealth Management LLC lifted its holdings in shares of Huntington Bancshares by 10.8% in the first quarter. Accurate Wealth Management LLC now owns 17,548 shares of the bank's stock valued at $263,000 after purchasing an additional 1,713 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Trading Up 1.2%

HBAN stock traded up $0.19 during trading on Monday, hitting $15.70. The company had a trading volume of 22,828,574 shares, compared to its average volume of 18,581,486. The firm has a 50-day moving average price of $14.96 and a 200-day moving average price of $15.75. Huntington Bancshares Incorporated has a 12 month low of $11.92 and a 12 month high of $18.45. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The stock has a market cap of $22.93 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 1.33 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 (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 analysts' expectations of $1.89 billion. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter last year, the business earned $0.27 earnings per share. As a group, analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Tuesday, June 17th. Huntington Bancshares's dividend payout ratio is 47.33%.

Huntington Bancshares announced that its Board of Directors has approved a stock buyback plan on Thursday, April 17th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the bank to reacquire up to 5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods cut their price objective on shares of Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. Stephens reaffirmed an "equal weight" rating and issued a $16.50 price target on shares of Huntington Bancshares in a research report on Monday, April 21st. Jefferies Financial Group started coverage on shares of Huntington Bancshares in a report on Wednesday, May 21st. They issued a "buy" rating and a $20.00 price target for the company. Cowen assumed coverage on Huntington Bancshares in a research note on Wednesday, May 14th. They issued a "buy" rating for the company. Finally, Robert W. Baird raised shares of Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 price target on the stock in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.08.

Insider Buying and Selling

In other news, VP Brantley J. Standridge sold 70,417 shares of the company'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 completion of the sale, the vice president now directly owns 326,456 shares of the company's stock, valued at $4,469,182.64. This represents a 17.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 59,060 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $14.36, for a total transaction of $848,101.60. Following the completion of the sale, the chief financial officer now owns 277,348 shares in the company, valued at $3,982,717.28. This represents a 17.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 204,917 shares of company stock valued at $2,897,659 over the last ninety days. Insiders own 0.89% of the company's stock.

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.