New York State Teachers Retirement System Acquires 137,616 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• New York State Teachers Retirement System increased its stake in Huntington Bancshares by 12.6%, buying 137,616 shares to hold 1,228,700 shares worth about $21.32 million, while institutional investors own roughly 80.72% of the stock.
• Huntington beat Q1 expectations with $0.37 EPS versus a $0.16 consensus and revenue of $2.59 billion, reporting a net margin of 16.63% and return on equity of 11.42%.
• The bank announced a quarterly dividend of $0.155 (annualized $0.62, ~3.7% yield) and carries an analyst consensus of "Moderate Buy" with an average price target of about $20.05.

New York State Teachers Retirement System lifted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 12.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,228,700 shares of the bank's stock after purchasing an additional 137,616 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Huntington Bancshares worth $21,318,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Sagespring Wealth Partners LLC increased its holdings in shares of Huntington Bancshares by 2.4% during the fourth quarter. Sagespring Wealth Partners LLC now owns 25,217 shares of the bank's stock worth $438,000 after purchasing an additional 587 shares during the period. Rehmann Capital Advisory Group increased its stake in Huntington Bancshares by 4.3% in the third quarter. Rehmann Capital Advisory Group now owns 16,881 shares of the bank's stock valued at $292,000 after acquiring an additional 694 shares during the last quarter. Glenmede Investment Management LP increased its stake in Huntington Bancshares by 1.7% in the third quarter. Glenmede Investment Management LP now owns 43,702 shares of the bank's stock valued at $755,000 after acquiring an additional 728 shares during the last quarter. Advisory Services Network LLC increased its stake in Huntington Bancshares by 2.5% in the third quarter. Advisory Services Network LLC now owns 29,690 shares of the bank's stock valued at $513,000 after acquiring an additional 737 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its stake in Huntington Bancshares by 1.0% in the third quarter. Benjamin Edwards Inc. now owns 73,147 shares of the bank's stock valued at $1,263,000 after acquiring an additional 758 shares during the last quarter. 80.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. National Bank Financial set a $21.00 price objective on shares of Huntington Bancshares in a research note on Wednesday, February 4th. Argus lifted their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, January 28th. Wall Street Zen raised shares of Huntington Bancshares from a "strong sell" rating to a "sell" rating in a research note on Saturday, April 25th. JPMorgan Chase & Co. decreased their price objective on shares of Huntington Bancshares from $19.00 to $18.50 and set an "overweight" rating on the stock in a research note on Thursday. Finally, Piper Sandler raised shares of Huntington Bancshares from a "strong sell" rating to a "hold" rating and set a $18.00 price objective on the stock in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $20.05.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $16.63 on Friday. The firm's fifty day moving average price is $16.23 and its two-hundred day moving average price is $16.73. The stock has a market cap of $33.87 billion, a PE ratio of 12.79, a PEG ratio of 0.77 and a beta of 0.96. Huntington Bancshares Incorporated has a fifty-two week low of $14.78 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 3.7%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares's payout ratio is presently 47.69%.

Insider Activity

In other Huntington Bancshares news, VP Brendan A. Lawlor sold 17,455 shares of the business's stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $18.93, for a total transaction of $330,423.15. Following the sale, the vice president owned 42,398 shares of the company's stock, valued at approximately $802,594.14. The trade was a 29.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Prashant Nateri sold 10,171 shares of the business's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $15.50, for a total transaction of $157,650.50. Following the sale, the insider directly owned 83,819 shares in the company, valued at approximately $1,299,194.50. The trade was a 10.82% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have purchased 39,200 shares of company stock valued at $756,724 and have sold 98,986 shares valued at $1,600,958. Corporate 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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