Mufg Securities Americas Inc. Invests $392,000 in Huntington Bancshares Incorporated (NASDAQ:HBAN)

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

Several other institutional investors have also recently modified their holdings of the company. Czech National Bank lifted its position in Huntington Bancshares by 6.5% during the fourth quarter. Czech National Bank now owns 314,999 shares of the bank's stock valued at $5,125,000 after purchasing an additional 19,123 shares during the period. Wedmont Private Capital raised its stake in shares of Huntington Bancshares by 8.1% in the fourth quarter. Wedmont Private Capital now owns 28,069 shares of the bank's stock valued at $450,000 after acquiring an additional 2,108 shares during the period. Oak Thistle LLC bought a new stake in shares of Huntington Bancshares during the fourth quarter worth $187,000. Park Avenue Securities LLC raised its stake in shares of Huntington Bancshares by 9.1% during the fourth quarter. Park Avenue Securities LLC now owns 56,219 shares of the bank's stock valued at $915,000 after acquiring an additional 4,703 shares in the last quarter. Finally, Decker Retirement Planning Inc. purchased a new position in Huntington Bancshares during the 4th quarter valued at about $73,000. 80.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HBAN has been the topic of several research reports. Stephens reissued an "equal weight" rating and issued a $16.50 target price on shares of Huntington Bancshares in a research report on Monday, April 21st. Robert W. Baird raised Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 price objective on the stock in a research report on Friday, March 7th. Cowen initiated coverage on Huntington Bancshares in a report on Wednesday, May 14th. They issued a "buy" rating for the company. Baird R W raised shares of Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. Finally, Truist Financial lowered their price target on Huntington Bancshares from $21.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of "Moderate Buy" and an average target price of $17.83.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock traded down $0.31 on Wednesday, hitting $15.64. 8,082,547 shares of the company's stock were exchanged, compared to its average volume of 21,759,566. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares Incorporated has a 1 year low of $11.91 and a 1 year high of $18.44. The company has a 50-day simple moving average of $14.52 and a 200-day simple moving average of $15.98. The stock has a market capitalization of $22.84 billion, a PE ratio of 12.71, a PEG ratio of 1.33 and a beta of 0.89.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $1.89 billion. During the same period in the previous year, the company earned $0.27 EPS. As a group, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be issued a $0.155 dividend. The ex-dividend date 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 47.33%.

Huntington Bancshares declared that its Board of Directors has initiated a stock buyback program on Thursday, April 17th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the bank to buy up to 5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Huntington Bancshares news, VP Brantley J. Standridge sold 70,417 shares of the company's 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 $4,469,182.64. This represents a 17.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the business's stock in a transaction on Thursday, March 13th. The stock was 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 directly owns 335,538 shares of the company's stock, valued at approximately $4,825,036.44. This trade 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 sold 312,456 shares of company stock worth $4,464,105. 0.89% of the stock is owned by corporate insiders.

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.