Mitsubishi UFJ Asset Management Co. Ltd. Has $57.09 Million Holdings in Huntington Bancshares Incorporated $HBAN

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Huntington Bancshares by 10.1% in the fourth quarter, bringing its holdings to 3.27 million shares valued at about $57.1 million.
• Huntington Bancshares recently reported strong quarterly results, with EPS of $0.37 topping analyst expectations of $0.16 and revenue of $2.59 billion slightly above estimates.
• The bank announced a quarterly dividend of $0.155 per share, equal to an annualized yield of 3.8%, while analysts maintain a Moderate Buy consensus with an average price target of $20.05.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,266,059 shares of the bank's stock after buying an additional 299,049 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.21% of Huntington Bancshares worth $57,091,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Huntington Bancshares by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank's stock worth $3,319,385,000 after buying an additional 14,338,222 shares during the period. Boston Partners increased its holdings in shares of Huntington Bancshares by 3.9% in the 3rd quarter. Boston Partners now owns 63,302,953 shares of the bank's stock valued at $1,091,615,000 after purchasing an additional 2,363,905 shares during the period. Invesco Ltd. increased its holdings in shares of Huntington Bancshares by 1.5% in the 3rd quarter. Invesco Ltd. now owns 59,062,922 shares of the bank's stock valued at $1,020,017,000 after purchasing an additional 861,263 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Huntington Bancshares by 15.7% in the 3rd quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank's stock valued at $594,054,000 after purchasing an additional 4,640,302 shares during the period. Finally, Federated Hermes Inc. increased its holdings in shares of Huntington Bancshares by 4.7% in the 3rd quarter. Federated Hermes Inc. now owns 21,292,946 shares of the bank's stock valued at $367,729,000 after purchasing an additional 956,933 shares during the period. Institutional investors and hedge funds own 80.72% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HBAN. The Goldman Sachs Group dropped their target price on Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating on the stock in a report on Monday, April 6th. Wall Street Zen upgraded Huntington Bancshares from a "sell" rating to a "hold" rating in a report on Saturday. UBS Group set a $21.00 target price on Huntington Bancshares in a report on Wednesday, February 4th. JPMorgan Chase & Co. dropped their target price on Huntington Bancshares from $19.00 to $18.50 and set an "overweight" rating on the stock in a report on Thursday, April 30th. Finally, Keefe, Bruyette & Woods dropped their target price on Huntington Bancshares from $20.00 to $19.50 and set a "market perform" rating on the stock in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Huntington Bancshares has a consensus rating of "Moderate Buy" and an average price target of $20.05.

Huntington Bancshares Trading Down 0.4%

NASDAQ:HBAN opened at $16.12 on Friday. The stock's 50 day moving average price is $16.17 and its 200 day moving average price is $16.75. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45. The company has a market capitalization of $32.68 billion, a P/E ratio of 12.40, a P/E/G ratio of 0.75 and a beta of 0.96. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the prior year, the company posted $0.34 earnings per share. On average, research analysts forecast that Huntington Bancshares Incorporated will post 1.61 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.8%. Huntington Bancshares's dividend payout ratio is currently 47.69%.

Insider Transactions at Huntington Bancshares

In related news, Director Gary Torgow bought 14,200 shares of the firm's stock in a transaction on Thursday, February 19th. The stock was purchased at an average price of $17.81 per share, with a total value of $252,902.00. Following the completion of the transaction, the director directly owned 943,341 shares of the company's stock, valued at $16,800,903.21. This trade represents a 1.53% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James D. Rollins III bought 8,471 shares of the firm's stock in a transaction on Monday, April 27th. The shares were bought at an average cost of $18.01 per share, with a total value of $152,562.71. Following the transaction, the director directly owned 11,500 shares of the company's stock, valued at approximately $207,115. This trade represents a 279.66% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have acquired 39,200 shares of company stock valued at $756,724 and have sold 93,156 shares valued at $1,489,372. Corporate insiders own 0.67% of the company's stock.

Huntington Bancshares 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.