Mirae Asset Global Investments Co. Ltd. Reduces Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Mirae Asset Global Investments Co. Ltd. lowered its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 85.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 181,581 shares of the bank's stock after selling 1,027,367 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Huntington Bancshares were worth $2,686,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Carlson Capital Management lifted its stake in shares of Huntington Bancshares by 0.4% in the fourth quarter. Carlson Capital Management now owns 163,575 shares of the bank's stock worth $2,661,000 after buying an additional 692 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Huntington Bancshares by 6.0% during the 4th quarter. Farther Finance Advisors LLC now owns 12,317 shares of the bank's stock valued at $200,000 after acquiring an additional 699 shares in the last quarter. CreativeOne Wealth LLC raised its holdings in Huntington Bancshares by 4.0% in the 4th quarter. CreativeOne Wealth LLC now owns 20,019 shares of the bank's stock valued at $326,000 after acquiring an additional 762 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its stake in Huntington Bancshares by 7.7% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 12,013 shares of the bank's stock worth $195,000 after purchasing an additional 856 shares in the last quarter. Finally, Keudell Morrison Wealth Management boosted its holdings in shares of Huntington Bancshares by 5.2% during the 1st quarter. Keudell Morrison Wealth Management now owns 17,509 shares of the bank's stock worth $263,000 after purchasing an additional 858 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company's stock.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 59,060 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief financial officer owned 277,348 shares of the company's stock, valued at $3,982,717.28. This trade represents a 17.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Kendall A. Kowalski sold 25,419 shares of the company's stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $13.68, for a total value of $347,731.92. Following the sale, the insider directly owned 70,281 shares in the company, valued at $961,444.08. This represents a 26.56% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 214,375 shares of company stock valued at $3,049,277. 0.89% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on HBAN. Stephens reaffirmed an "equal weight" rating and issued a $16.50 price target on shares of Huntington Bancshares in a report on Monday, April 21st. TD Cowen initiated coverage on Huntington Bancshares in a research note on Thursday, May 15th. They issued a "buy" rating and a $20.00 target price for the company. JPMorgan Chase & Co. reduced their price target on Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Citigroup boosted their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Truist Financial raised their price objective on shares of Huntington Bancshares from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $18.33.

Huntington Bancshares Trading Up 0.6%

Shares of HBAN traded up $0.11 during midday trading on Friday, hitting $17.51. 21,797,655 shares of the stock were exchanged, compared to its average volume of 19,021,731. Huntington Bancshares Incorporated has a 52-week low of $11.92 and a 52-week high of $18.45. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.89 and a current ratio of 0.90. The stock has a fifty day simple moving average of $15.83 and a 200 day simple moving average of $15.67. The firm has a market cap of $25.58 billion, a P/E ratio of 13.37, a P/E/G ratio of 1.34 and a beta of 0.93.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its earnings results on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.03. The company had revenue of $1.94 billion during the quarter, compared to analysts' expectations 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 business posted $0.27 EPS. On average, research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares declared that its Board of Directors has initiated a stock repurchase plan on Thursday, April 17th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the bank to buy up to 5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.54%. The ex-dividend date was Tuesday, June 17th. Huntington Bancshares's payout ratio is 47.33%.

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.