Meiji Yasuda Life Insurance Co Has $1.14 Million Stock Position in Huntington Bancshares Incorporated $HBAN

Key Points

• Meiji Yasuda Life Insurance Co has reduced its holdings in Huntington Bancshares by 26.6%, selling 27,413 shares and leaving them with 75,637 shares valued at approximately $1,135,000.
• Several institutional investors have increased their stakes in Huntington Bancshares, with AQR Capital Management boosting its holdings by 274.9% to nearly 10.76 million shares.
• Huntington Bancshares recently declared a quarterly dividend of $0.155 per share, with a 3.5% dividend yield and a payout ratio of 45.93%.

Meiji Yasuda Life Insurance Co lowered its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 26.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,637 shares of the bank's stock after selling 27,413 shares during the period. Meiji Yasuda Life Insurance Co's holdings in Huntington Bancshares were worth $1,135,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its holdings in Huntington Bancshares by 274.9% in the 1st quarter. AQR Capital Management LLC now owns 10,758,669 shares of the bank's stock valued at $157,292,000 after buying an additional 7,889,004 shares during the period. Invesco Ltd. lifted its stake in shares of Huntington Bancshares by 8.7% during the first quarter. Invesco Ltd. now owns 57,186,593 shares of the bank's stock worth $858,371,000 after purchasing an additional 4,586,607 shares in the last quarter. Amundi boosted its holdings in Huntington Bancshares by 26.2% in the 1st quarter. Amundi now owns 22,011,639 shares of the bank's stock worth $330,395,000 after acquiring an additional 4,576,432 shares during the period. Nuveen LLC acquired a new position in Huntington Bancshares in the 1st quarter worth $50,078,000. Finally, Deutsche Bank AG increased its holdings in Huntington Bancshares by 47.7% during the 1st quarter. Deutsche Bank AG now owns 8,870,393 shares of the bank's stock worth $133,145,000 after purchasing an additional 2,865,727 shares during the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 41,100 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $18.00, for a total transaction of $739,800.00. Following the completion of the sale, the executive vice president directly owned 299,361 shares in the company, valued at approximately $5,388,498. This trade represents a 12.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.89% of the company's stock.

Huntington Bancshares Stock Up 0.2%

Shares of NASDAQ HBAN traded up $0.03 during mid-day trading on Friday, reaching $17.77. The company had a trading volume of 21,708,807 shares, compared to its average volume of 24,835,348. The stock has a fifty day moving average of $17.00 and a two-hundred day moving average of $15.80. Huntington Bancshares Incorporated has a 12-month low of $11.91 and a 12-month high of $18.44. The company has a market capitalization of $25.92 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 0.86 and a beta of 0.97. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.89.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 17th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Wednesday, September 17th. Huntington Bancshares's payout ratio is currently 45.93%.

Analysts Set New Price Targets

HBAN has been the subject of several research reports. Citigroup lifted their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Wolfe Research raised Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 target price on the stock in a report on Thursday, July 3rd. Raymond James Financial reissued a "strong-buy" rating and issued a $21.00 price target (up from $18.00) on shares of Huntington Bancshares in a report on Tuesday, July 8th. Wall Street Zen downgraded shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. Finally, DA Davidson increased their price objective on Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.79.

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.