New York State Teachers Retirement System Has $16.37 Million Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

New York State Teachers Retirement System reduced its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 9.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,090,765 shares of the bank's stock after selling 112,477 shares during the period. New York State Teachers Retirement System owned approximately 0.07% of Huntington Bancshares worth $16,372,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of HBAN. Golden State Wealth Management LLC increased its stake in shares of Huntington Bancshares by 516.3% in the 1st quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock valued at $33,000 after acquiring an additional 1,869 shares during the last quarter. Transce3nd LLC bought a new stake in shares of Huntington Bancshares in the 4th quarter valued at about $48,000. Curat Global LLC bought a new stake in shares of Huntington Bancshares in the 1st quarter valued at about $52,000. Loomis Sayles & Co. L P bought a new stake in shares of Huntington Bancshares in the 4th quarter valued at about $70,000. Finally, IFP Advisors Inc increased its stake in shares of Huntington Bancshares by 120.6% in the 4th quarter. IFP Advisors Inc now owns 4,503 shares of the bank's stock valued at $73,000 after acquiring an additional 2,462 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on HBAN. Cowen initiated coverage on Huntington Bancshares in a research note on Wednesday, May 14th. They issued a "buy" rating for the company. Citigroup increased their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday. Robert W. Baird raised Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 target price for the company in a research note on Friday, March 7th. Stephens reissued an "equal weight" rating and set a $16.50 target price on shares of Huntington Bancshares in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. lowered their target price on Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $18.33.

Huntington Bancshares Stock Up 0.6%

NASDAQ:HBAN traded up $0.11 during trading hours on Friday, reaching $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 twelve month low of $11.92 and a twelve month high of $18.45. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.90 and a quick ratio of 0.89. The firm has a 50 day moving average of $15.83 and a 200 day moving average of $15.67. The stock has a market cap of $25.58 billion, a PE ratio of 13.37, a PEG ratio of 1.34 and a beta of 0.93.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.89 billion. Huntington Bancshares had a return on equity of 11.44% and a net margin of 16.94%. During the same quarter in the prior year, the firm posted $0.27 EPS. On average, equities analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

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

Huntington Bancshares announced that its board has approved 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 reacquire up to 5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Helga Houston sold 42,345 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $14.72, for a total value of $623,318.40. Following the completion of the sale, the insider owned 592,119 shares of the company's stock, valued at approximately $8,715,991.68. This represents a 6.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Brantley J. Standridge sold 70,417 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $13.69, for a total value of $964,008.73. Following the completion of the sale, the vice president directly owned 326,456 shares of the company's stock, valued at approximately $4,469,182.64. The trade was a 17.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 214,375 shares of company stock worth $3,049,277 in the last quarter. 0.89% of the stock is owned by company insiders.

About Huntington Bancshares

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.