Y Intercept Hong Kong Ltd Makes New Investment in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Y Intercept Hong Kong Ltd bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 29,624 shares of the bank's stock, valued at approximately $445,000.

Several other institutional investors have also modified their holdings of HBAN. Teacher Retirement System of Texas purchased a new position in shares of Huntington Bancshares in the fourth quarter worth about $221,000. Korea Investment CORP lifted its stake in shares of Huntington Bancshares by 167.3% in the fourth quarter. Korea Investment CORP now owns 683,524 shares of the bank's stock worth $11,121,000 after buying an additional 427,768 shares in the last quarter. Loomis Sayles & Co. L P purchased a new position in shares of Huntington Bancshares in the fourth quarter worth about $70,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of Huntington Bancshares by 0.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 448,050 shares of the bank's stock worth $7,290,000 after buying an additional 2,413 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in shares of Huntington Bancshares by 17.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 850,139 shares of the bank's stock worth $13,832,000 after buying an additional 129,106 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company's stock.

Huntington Bancshares Stock Down 2.3%

Shares of HBAN stock traded down $0.38 during trading on Friday, reaching $16.05. The company's stock had a trading volume of 17,978,799 shares, compared to its average volume of 25,520,768. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $23.44 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 0.85 and a beta of 0.93. The stock's 50-day moving average price is $16.42 and its 200 day moving average price is $15.75. Huntington Bancshares Incorporated has a 1-year low of $11.91 and a 1-year high of $18.44.

Huntington Bancshares declared that its board has approved a stock repurchase program on Thursday, April 17th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the bank to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, September 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.9%. Huntington Bancshares's payout ratio is 45.93%.

Insider Buying and Selling at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 13,700 shares of Huntington Bancshares stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $15.79, for a total value of $216,323.00. Following the completion of the transaction, the executive vice president owned 337,879 shares in the company, valued at approximately $5,335,109.41. The trade was 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.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on HBAN shares. Cowen started coverage on shares of Huntington Bancshares in a research note on Wednesday, May 14th. They issued a "buy" rating on the stock. 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 on the stock. Wolfe Research raised shares of Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 target price on the stock in a research note on Thursday, July 3rd. Royal Bank Of Canada reduced their target price on shares of Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Finally, TD Cowen began coverage on shares of Huntington Bancshares in a research note on Thursday, May 15th. They set a "buy" rating and a $20.00 target price on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.68.

Huntington Bancshares 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.