Toronto Dominion Bank Acquires 691,257 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Toronto Dominion Bank increased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 96.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,410,495 shares of the bank's stock after purchasing an additional 691,257 shares during the period. Toronto Dominion Bank owned approximately 0.10% of Huntington Bancshares worth $22,949,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. National Bank of Canada FI lifted its position in Huntington Bancshares by 220.9% during the 4th quarter. National Bank of Canada FI now owns 3,666,949 shares of the bank's stock worth $59,661,000 after acquiring an additional 2,524,077 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in Huntington Bancshares by 17.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 850,139 shares of the bank's stock worth $13,832,000 after acquiring an additional 129,106 shares during the last quarter. Mediolanum International Funds Ltd acquired a new position in Huntington Bancshares during the 4th quarter worth $422,000. Donoghue Forlines LLC acquired a new position in Huntington Bancshares during the 4th quarter worth $1,460,000. Finally, Fisher Asset Management LLC acquired a new position in Huntington Bancshares during the 4th quarter worth $189,000. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $16.18 on Monday. Huntington Bancshares Incorporated has a 12-month low of $11.92 and a 12-month high of $18.45. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $23.63 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The firm has a 50-day moving average price of $14.46 and a 200 day moving average price of $15.97.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the business posted $0.27 earnings per share. Research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be paid a dividend of $0.155 per share. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.83%. Huntington Bancshares's dividend payout ratio is 47.33%.

Huntington Bancshares announced that its Board of Directors has authorized a stock buyback program on Thursday, April 17th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the bank to purchase up to 5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

HBAN has been the subject of a number of research analyst reports. Baird R W raised shares of Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 7th. TD Cowen assumed coverage on shares of Huntington Bancshares in a research report on Thursday. They set a "buy" rating and a $20.00 target price for the company. Deutsche Bank Aktiengesellschaft raised shares of Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 price objective for the company in a research report on Thursday, April 24th. JPMorgan Chase & Co. cut their price objective on shares of 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, Citigroup cut their price objective on shares of Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $17.58.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Kendall A. Kowalski sold 3,434 shares of the company's 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 sale, the insider now directly owns 66,847 shares of the company's stock, valued at approximately $969,281.50. This represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.38, for a total transaction of $552,925.38. Following the sale, the chief financial officer now directly owns 335,538 shares in the company, valued at $4,825,036.44. This represents a 10.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 312,456 shares of company stock valued at $4,464,105. 0.89% of the stock is currently owned by 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.

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