Mirae Asset Global Investments Co. Ltd. Purchases 66,139 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• Mirae Asset Global Investments boosted its stake in Huntington Bancshares by 30.1% in Q4, buying an additional 66,139 shares to hold 285,639 shares valued at about $4.96 million.
• Huntington missed Q4 estimates (EPS $0.37 vs. $0.40; revenue $1.61B vs. $2.21B) but pays a 3.7% dividend yield“Moderate Buy” with a $20.13 price target.
• Institutional investors own about 80.72% of Huntington’s stock, with Vanguard alone holding roughly 176.98 million shares (~$3.06 billion).

Mirae Asset Global Investments Co. Ltd. boosted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 30.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 285,639 shares of the bank's stock after purchasing an additional 66,139 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Huntington Bancshares were worth $4,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Altrius Capital Management Inc bought a new stake in Huntington Bancshares in the third quarter worth about $4,894,000. Vanguard Group Inc. lifted its stake in Huntington Bancshares by 0.4% in the third quarter. Vanguard Group Inc. now owns 176,980,819 shares of the bank's stock worth $3,056,459,000 after purchasing an additional 680,601 shares during the last quarter. Midwest Trust Co lifted its stake in Huntington Bancshares by 12.7% in the third quarter. Midwest Trust Co now owns 1,510,977 shares of the bank's stock worth $26,095,000 after purchasing an additional 170,240 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Huntington Bancshares during the third quarter worth approximately $3,746,000. Finally, JPMorgan Chase & Co. increased its position in shares of Huntington Bancshares by 3.5% during the third quarter. JPMorgan Chase & Co. now owns 9,238,142 shares of the bank's stock worth $159,543,000 after acquiring an additional 314,544 shares during the period. Institutional investors own 80.72% of the company's stock.

Huntington Bancshares Stock Performance

Shares of NASDAQ:HBAN opened at $16.97 on Wednesday. The firm has a market cap of $34.57 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 0.74 and a beta of 0.95. The firm's 50 day simple moving average is $16.36 and its 200-day simple moving average is $16.72. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93. Huntington Bancshares Incorporated has a one year low of $13.60 and a one year high of $19.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.03). The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $2.21 billion. Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.During the same period last year, the firm earned $0.34 EPS. As a group, equities analysts predict that Huntington Bancshares Incorporated will post 1.61 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Wednesday, March 18th. Huntington Bancshares's dividend payout ratio (DPR) is 44.60%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Huntington Bancshares from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 7th. Royal Bank Of Canada reduced their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 7th. Evercore reduced their target price on shares of Huntington Bancshares from $21.00 to $19.00 and set an "outperform" rating on the stock in a research report on Monday, April 6th. National Bank Financial set a $21.00 target price on shares of Huntington Bancshares in a research report on Wednesday, February 4th. Finally, The Goldman Sachs Group reduced their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Huntington Bancshares has a consensus rating of "Moderate Buy" and a consensus price target of $20.13.

Insider Buying and Selling at Huntington Bancshares

In related news, Director James D. Rollins III bought 1,127 shares of the company's stock in a transaction on Monday, March 9th. The shares were acquired at an average price of $25.39 per share, with a total value of $28,614.53. Following the transaction, the director owned 4,000 shares of the company's stock, valued at $101,560. The trade was a 39.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Prashant Nateri sold 10,171 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $15.50, for a total value of $157,650.50. Following the sale, the insider directly owned 83,819 shares in the company, valued at $1,299,194.50. This trade represents a 10.82% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have purchased 27,700 shares of company stock worth $540,401 and have sold 98,986 shares worth $1,600,958. Insiders own 0.67% of the company's stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated NASDAQ: HBAN is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company's operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington's product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.

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