Teacher Retirement System of Texas Has $3.19 Million Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Teacher Retirement System of Texas raised its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 1,462.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 212,390 shares of the bank's stock after purchasing an additional 198,796 shares during the period. Teacher Retirement System of Texas' holdings in Huntington Bancshares were worth $3,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HBAN. Steward Partners Investment Advisory LLC boosted its holdings in Huntington Bancshares by 5.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 67,575 shares of the bank's stock worth $1,099,000 after acquiring an additional 3,706 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Huntington Bancshares during the fourth quarter valued at approximately $2,358,000. Daiwa Securities Group Inc. increased its position in shares of Huntington Bancshares by 7.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 214,612 shares of the bank's stock valued at $3,492,000 after buying an additional 15,335 shares in the last quarter. Johnson Investment Counsel Inc. increased its position in shares of Huntington Bancshares by 20.6% in the fourth quarter. Johnson Investment Counsel Inc. now owns 76,418 shares of the bank's stock valued at $1,243,000 after buying an additional 13,036 shares in the last quarter. Finally, Net Worth Advisory Group increased its position in shares of Huntington Bancshares by 114.6% in the fourth quarter. Net Worth Advisory Group now owns 22,695 shares of the bank's stock valued at $369,000 after buying an additional 12,121 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company's stock.

Insider Activity

In related news, insider Kendall A. Kowalski sold 3,434 shares of Huntington Bancshares stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $14.50, for a total transaction of $49,793.00. Following the completion of the transaction, the insider directly owned 66,847 shares of the company's stock, valued at $969,281.50. This trade represents a 4.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brantley J. Standridge sold 70,417 shares of the company's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $13.69, for a total transaction of $964,008.73. Following the sale, the vice president directly owned 326,456 shares in the company, valued at $4,469,182.64. This represents a 17.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 214,375 shares of company stock valued at $3,049,277. Insiders own 0.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on HBAN shares. Stephens restated an "equal weight" rating and issued a $16.50 price objective on shares of Huntington Bancshares in a research report on Monday, April 21st. Keefe, Bruyette & Woods dropped their price target on Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating for the company in a research report on Monday, April 21st. Morgan Stanley dropped their price target on Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. JPMorgan Chase & Co. dropped their price target on Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 price target for the company in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $18.48.

Huntington Bancshares Trading Down 0.3%

NASDAQ HBAN traded down $0.06 on Wednesday, hitting $17.42. 20,820,985 shares of the company were exchanged, compared to its average volume of 23,510,461. The company's 50 day moving average price is $15.94 and its 200-day moving average price is $15.69. 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 market capitalization of $25.45 billion, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 1.34 and a beta of 0.93. Huntington Bancshares Incorporated has a twelve month low of $11.91 and a twelve month high of $18.44.

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

Huntington Bancshares announced that its board has approved a stock buyback plan on Thursday, April 17th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.56%. Huntington Bancshares's payout ratio is currently 47.33%.

Huntington Bancshares Company Profile

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.