Mufg Securities Americas Inc. Buys Shares of 24,069 Huntington Bancshares Incorporated (NASDAQ:HBAN)

Mufg Securities Americas Inc. purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 24,069 shares of the bank's stock, valued at approximately $392,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Huntington Bancshares by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank's stock worth $1,056,353,000 after acquiring an additional 2,218,020 shares during the period. Invesco Ltd. raised its holdings in shares of Huntington Bancshares by 4.6% during the fourth quarter. Invesco Ltd. now owns 52,599,986 shares of the bank's stock valued at $855,802,000 after buying an additional 2,310,502 shares during the last quarter. FMR LLC boosted its holdings in Huntington Bancshares by 36.9% during the fourth quarter. FMR LLC now owns 32,479,039 shares of the bank's stock worth $528,434,000 after buying an additional 8,759,871 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Huntington Bancshares by 7.4% in the 4th quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank's stock valued at $355,094,000 after purchasing an additional 1,506,606 shares during the period. Finally, Norges Bank bought a new stake in Huntington Bancshares in the fourth quarter worth $302,826,000. Hedge funds and other institutional investors own 80.72% of the company's stock.

Insider Buying and Selling at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 38,451 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total value of $552,925.38. Following the completion of the transaction, the chief financial officer now owns 335,538 shares of the company's stock, valued at $4,825,036.44. This represents a 10.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Brantley J. Standridge sold 70,417 shares of the company's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $13.69, for a total value of $964,008.73. Following the sale, the vice president now owns 326,456 shares in the company, valued at approximately $4,469,182.64. The trade was a 17.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 312,456 shares of company stock worth $4,464,105. 0.89% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on HBAN. Citigroup dropped their target price on Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Monday, March 24th. JPMorgan Chase & Co. lowered their price objective on Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Argus set a $17.00 price objective on Huntington Bancshares in a report on Friday, April 25th. TD Cowen began coverage on Huntington Bancshares in a research note on Thursday. They issued a "buy" rating and a $20.00 price objective on the stock. Finally, Royal Bank of Canada lowered their target price on shares of Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $17.58.

Huntington Bancshares Stock Performance

NASDAQ:HBAN traded down $0.06 during trading hours on Monday, reaching $16.12. 20,177,711 shares of the stock were exchanged, compared to its average volume of 17,781,255. 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 $23.55 billion, a P/E ratio of 13.11, a P/E/G ratio of 1.33 and a beta of 0.89. 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 50 day simple moving average of $14.46 and a 200-day simple moving average 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 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 business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same period last year, the company posted $0.27 earnings per share. As a group, sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares announced that its board has authorized a share buyback plan on Thursday, April 17th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the bank to reacquire up to 5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

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 3.85%. Huntington Bancshares's dividend payout ratio is 47.33%.

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.