MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 9.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 254,787 shares of the bank's stock after purchasing an additional 21,334 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Huntington Bancshares were worth $4,145,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the stock. Lighthouse Investment Partners LLC purchased a new position in Huntington Bancshares in the 4th quarter worth about $2,882,000. Interval Partners LP increased its stake in Huntington Bancshares by 129.7% in the 4th quarter. Interval Partners LP now owns 1,420,634 shares of the bank's stock worth $23,114,000 after purchasing an additional 802,113 shares in the last quarter. Janus Henderson Group PLC increased its stake in Huntington Bancshares by 7.0% in the 4th quarter. Janus Henderson Group PLC now owns 222,753 shares of the bank's stock worth $3,628,000 after purchasing an additional 14,586 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in Huntington Bancshares during the 4th quarter valued at about $9,763,000. Finally, Gotham Asset Management LLC grew its stake in Huntington Bancshares by 28.9% during the 4th quarter. Gotham Asset Management LLC now owns 22,263 shares of the bank's stock valued at $362,000 after acquiring an additional 4,997 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company's stock.
Huntington Bancshares Stock Down 0.4%
Shares of HBAN stock opened at $16.12 on Tuesday. Huntington Bancshares Incorporated has a 12 month low of $11.92 and a 12 month high of $18.45. The firm has a market cap of $23.55 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The stock has a 50 day moving average of $14.49 and a 200-day moving average of $15.98. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the company earned $0.27 earnings per share. On average, equities analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.
Huntington Bancshares Announces Dividend
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 issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.85%. Huntington Bancshares's dividend payout ratio (DPR) is presently 47.33%.
Huntington Bancshares declared that its Board of Directors has approved a share repurchase plan on Thursday, April 17th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the bank to purchase up to 5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on HBAN shares. Stephens reaffirmed an "equal weight" rating and set a $16.50 target price on shares of Huntington Bancshares in a research note on Monday, April 21st. Keefe, Bruyette & Woods lowered their target price on Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st. Argus set a $17.00 target price on Huntington Bancshares in a research note on Friday, April 25th. Morgan Stanley lowered their target price on Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Finally, Deutsche Bank Aktiengesellschaft raised Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 target price on the stock in a research note on Thursday, April 24th. 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, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.58.
Get Our Latest Analysis on HBAN
Insider Transactions at Huntington Bancshares
In other news, VP Scott D. Kleinman sold 69,088 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the completion of the transaction, the vice president now directly owns 453,129 shares in the company, valued at $6,647,402.43. The trade was a 13.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Helga Houston sold 42,345 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $14.72, for a total value of $623,318.40. Following the transaction, the insider now owns 592,119 shares of the company's stock, valued at approximately $8,715,991.68. This trade represents a 6.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 312,456 shares of company stock worth $4,464,105 over the last three months. 0.89% of the stock is currently owned by insiders.
About Huntington Bancshares
(
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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