Sumitomo Mitsui Trust Group Inc. Purchases 814,324 Shares of Huntington Bancshares Incorporated $HBAN

Sumitomo Mitsui Trust Group Inc. raised its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 19.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,087,371 shares of the bank's stock after buying an additional 814,324 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.25% of Huntington Bancshares worth $79,617,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. boosted its holdings in shares of Huntington Bancshares by 33.7% during the first quarter. Resona Asset Management Co. Ltd. now owns 635,301 shares of the bank's stock worth $9,867,000 after purchasing an additional 160,145 shares during the period. Beam Wealth Advisors Inc. bought a new position in Huntington Bancshares during the 1st quarter valued at approximately $3,240,000. Munich Reinsurance Co Stock Corp in Munich raised its position in Huntington Bancshares by 18.9% during the 1st quarter. Munich Reinsurance Co Stock Corp in Munich now owns 4,992,023 shares of the bank's stock valued at $78,125,000 after purchasing an additional 794,347 shares during the last quarter. Greenwood Capital Associates LLC lifted its holdings in Huntington Bancshares by 6.6% in the 1st quarter. Greenwood Capital Associates LLC now owns 407,441 shares of the bank's stock worth $6,376,000 after buying an additional 25,265 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its stake in Huntington Bancshares by 29.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 232,524 shares of the bank's stock worth $3,639,000 after acquiring an additional 52,500 shares during the period. Institutional investors own 80.72% of the company's stock.

Insider Buying and Selling

In related news, EVP Marcy C. Hingst sold 10,568 shares of the business's stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the sale, the executive vice president directly owned 267,859 shares in the company, valued at approximately $4,821,462. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the company's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the sale, the director directly owned 612,155 shares of the company's stock, valued at approximately $10,620,889.25. This represents a 26.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders acquired 33,500 shares of company stock valued at $617,542. 0.67% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on HBAN. Evercore reaffirmed an "outperform" rating and issued a $21.00 target price on shares of Huntington Bancshares in a research report on Monday, July 6th. The Goldman Sachs Group dropped their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. Morgan Stanley upped their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Monday, June 29th. Wall Street Zen upgraded shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Finally, Wolfe Research dropped their price target on Huntington Bancshares from $21.00 to $19.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Huntington Bancshares presently has a consensus rating of "Moderate Buy" and an average price target of $20.25.

Huntington Bancshares Stock Up 0.6%

Huntington Bancshares stock traded up $0.11 during mid-day trading on Friday, reaching $17.87. The stock had a trading volume of 14,157,471 shares, compared to its average volume of 19,734,146. Huntington Bancshares Incorporated has a one year low of $14.89 and a one year high of $19.45. The company has a 50-day moving average price of $16.73 and a two-hundred day moving average price of $16.91. The company has a market capitalization of $36.22 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 0.81 and a beta of 0.93. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.21. The business had revenue of $2.59 billion during 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 period in the previous year, the company earned $0.34 earnings per share. On average, analysts expect that Huntington Bancshares Incorporated will post 1.62 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Wednesday, June 17th. Huntington Bancshares's payout ratio is presently 47.69%.

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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