MUFG Securities EMEA plc Has $6.92 Million Stake in Huntington Bancshares Incorporated $HBAN

Key Points

• MUFG Securities EMEA plc boosted its stake in Huntington Bancshares by 1,320.4% in the fourth quarter, ending with 398,545 shares valued at about $6.92 million.
• Huntington Bancshares reported better-than-expected quarterly results, posting $0.37 EPS versus the $0.16 consensus and revenue of $2.59 billion, while analysts now expect full-year EPS of 1.61.
• The company declared a quarterly dividend of $0.155 per share to be paid July 1, implying a 3.8% annualized yield; meanwhile, analyst sentiment remains Moderate Buy with a consensus target price of $20.05.

MUFG Securities EMEA plc increased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 1,320.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 398,545 shares of the bank's stock after buying an additional 370,487 shares during the period. MUFG Securities EMEA plc's holdings in Huntington Bancshares were worth $6,915,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in HBAN. Norges Bank acquired a new position in Huntington Bancshares during the fourth quarter valued at approximately $432,584,000. Vanguard Group Inc. raised its position in Huntington Bancshares by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank's stock valued at $3,319,385,000 after purchasing an additional 14,338,222 shares in the last quarter. Junto Capital Management LP acquired a new position in Huntington Bancshares during the third quarter valued at approximately $85,690,000. Victory Capital Management Inc. raised its position in Huntington Bancshares by 15.7% during the third 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 in the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich acquired a new position in Huntington Bancshares during the fourth quarter valued at approximately $73,333,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $16.36 on Monday. The firm's fifty day moving average price is $16.05 and its two-hundred day moving average price is $16.77. The stock has a market cap of $33.16 billion, a PE ratio of 12.58, a PEG ratio of 0.75 and a beta of 0.94. Huntington Bancshares Incorporated has a fifty-two week low of $14.89 and a fifty-two week high of $19.45. 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 posted its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.21. The firm had revenue of $2.59 billion for the quarter, compared to analysts' expectations of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same quarter in the previous year, the firm posted $0.34 earnings per share. On average, equities analysts expect that Huntington Bancshares Incorporated will post 1.61 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares's payout ratio is presently 47.69%.

Insiders Place Their Bets

In related news, insider Prashant Nateri sold 10,171 shares of the business's 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 owned 83,819 shares of the company's stock, valued at $1,299,194.50. The trade was a 10.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James D. Rollins III acquired 3,029 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, April 28th. The stock was acquired at an average cost of $21.05 per share, for a total transaction of $63,760.45. Following the purchase, the director owned 9,500 shares of the company's stock, valued at $199,975. The trade was a 46.81% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 17,627 shares of company stock valued at $333,188. 0.67% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on HBAN. Jefferies Financial Group boosted their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Piper Sandler upgraded shares of Huntington Bancshares from a "strong sell" rating to a "hold" rating and set a $18.00 price objective for the company in a research report on Thursday, April 23rd. Wall Street Zen upgraded shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Morgan Stanley lowered their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set an "overweight" rating for the company in a research report on Friday, April 24th. Finally, The Goldman Sachs Group lowered their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating for the company in a research report on Monday, April 6th. One 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $20.05.

About Huntington Bancshares

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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