UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 9.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,679,600 shares of the bank's stock after acquiring an additional 1,188,542 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.94% of Huntington Bancshares worth $222,567,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in HBAN. Creative Capital Management Investments LLC lifted its stake in Huntington Bancshares by 17,533.3% in the fourth quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank's stock valued at $26,000 after acquiring an additional 1,578 shares during the last quarter. Y.D. More Investments Ltd lifted its stake in Huntington Bancshares by 126.8% in the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank's stock valued at $30,000 after acquiring an additional 1,023 shares during the last quarter. Midwest Capital Advisors LLC acquired a new stake in Huntington Bancshares in the fourth quarter valued at approximately $37,000. Transce3nd LLC acquired a new stake in Huntington Bancshares in the fourth quarter valued at approximately $48,000. Finally, Asset Dedication LLC lifted its stake in shares of Huntington Bancshares by 70.0% in the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank's stock worth $50,000 after buying an additional 1,260 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Huntington Bancshares
In related news, VP Brantley J. Standridge sold 70,417 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $13.69, for a total transaction of $964,008.73. Following the completion of the sale, the vice president now directly owns 326,456 shares of the company's stock, valued at approximately $4,469,182.64. This represents a 17.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Scott D. Kleinman sold 69,088 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the sale, the vice president now directly owns 453,129 shares of the company's stock, valued at approximately $6,647,402.43. The trade was a 13.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 312,456 shares of company stock worth $4,464,105 in the last ninety days. Company insiders own 0.89% of the company's stock.
Huntington Bancshares Price Performance
Shares of HBAN traded down $0.15 during trading hours on Wednesday, hitting $15.62. The stock had a trading volume of 8,321,814 shares, compared to its average volume of 18,031,799. The company's fifty day moving average is $14.58 and its two-hundred day moving average is $15.94. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a 52 week low of $11.92 and a 52 week high of $18.45. The stock has a market capitalization of $22.81 billion, a price-to-earnings ratio of 12.70, a P/E/G ratio of 1.33 and a beta of 0.89.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the firm earned $0.27 EPS. On average, analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.
Huntington Bancshares announced that its board has initiated a share repurchase program on Thursday, April 17th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the bank to repurchase up to 5% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.
Huntington Bancshares Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.97%. Huntington Bancshares's payout ratio is presently 47.33%.
Analyst Ratings Changes
Several research analysts recently commented on HBAN shares. TD Cowen started coverage on shares of Huntington Bancshares in a report on Thursday, May 15th. They issued a "buy" rating and a $20.00 target price on the stock. Baird R W upgraded shares of Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. Cowen began coverage on shares of Huntington Bancshares in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. Raymond James reiterated a "strong-buy" rating and set a $18.00 target price (down from $20.00) on shares of Huntington Bancshares in a research note on Monday, April 21st. Finally, Jefferies Financial Group began coverage on shares of Huntington Bancshares in a research note on Wednesday, May 21st. They set a "buy" rating and a $20.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $17.83.
View Our Latest Analysis on HBAN
About Huntington Bancshares
(
Free Report)
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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