Resona Asset Management Co. Ltd. Has $6.90 Million Stock Holdings in Huntington Bancshares Incorporated $HBAN

Key Points

• Resona Asset Management Co. Ltd. increased its stock position in Huntington Bancshares by 5.6%, acquiring an additional 24,366 shares, now holding a total of 460,472 shares valued at approximately $6.9 million.
• Huntington Bancshares announced a quarterly dividend of $0.155 per share with an ex-dividend date of September 17th, representing an annualized yield of 3.7%.
• The stock's current market cap is $24.52 billion, trading between a fifty-two week low of $11.91 and a high of $18.44, with a consensus rating of "Moderate Buy" from analysts.

Resona Asset Management Co. Ltd. raised its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 5.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 460,472 shares of the bank's stock after acquiring an additional 24,366 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Huntington Bancshares were worth $6,896,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Smallwood Wealth Investment Management LLC acquired a new position in shares of Huntington Bancshares in the 1st quarter valued at about $29,000. LFA Lugano Financial Advisors SA acquired a new position in Huntington Bancshares in the first quarter valued at approximately $31,000. Golden State Wealth Management LLC boosted its position in Huntington Bancshares by 516.3% in the 1st quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock worth $33,000 after purchasing an additional 1,869 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Huntington Bancshares during the 1st quarter worth approximately $39,000. Finally, TruNorth Capital Management LLC acquired a new position in shares of Huntington Bancshares in the 1st quarter valued at $40,000. Hedge funds and other institutional investors own 80.72% of the company's stock.

Huntington Bancshares Trading Down 0.2%

Shares of Huntington Bancshares stock traded down $0.0350 during trading hours on Tuesday, reaching $16.6450. 7,379,245 shares of the company's stock were exchanged, compared to its average volume of 25,526,881. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $24.28 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 0.85 and a beta of 0.93. The company has a fifty day moving average of $16.56 and a 200-day moving average of $15.67. Huntington Bancshares Incorporated has a 52-week low of $11.91 and a 52-week high of $18.44.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 17th will be issued 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 is Wednesday, September 17th. Huntington Bancshares's dividend payout ratio (DPR) is currently 45.93%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HBAN shares. DA Davidson increased their price objective on Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Jefferies Financial Group assumed coverage on shares of Huntington Bancshares in a research report on Wednesday, May 21st. They set a "buy" rating and a $20.00 price target on the stock. Argus set a $17.00 price objective on Huntington Bancshares in a research report on Friday, April 25th. Keefe, Bruyette & Woods reduced their target price on Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. Finally, TD Cowen initiated coverage on shares of Huntington Bancshares in a research report on Thursday, May 15th. They issued a "buy" rating and a $20.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Huntington Bancshares has an average rating of "Moderate Buy" and a consensus target price of $18.68.

Insider Activity

In other news, EVP Marcy C. Hingst sold 13,700 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $15.79, for a total transaction of $216,323.00. Following the transaction, the executive vice president owned 337,879 shares of the company's stock, valued at approximately $5,335,109.41. This trade represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.89% of the company's stock.

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.