Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 15.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 186,805 shares of the bank’s stock after acquiring an additional 25,039 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Huntington Bancshares were worth $2,767,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. CFM Wealth Partners LLC purchased a new position in shares of Huntington Bancshares in the 4th quarter valued at $25,000. Litman Gregory Asset Management LLC purchased a new position in Huntington Bancshares during the 4th quarter worth $26,000. Baystate Wealth Management LLC purchased a new position in Huntington Bancshares during the 3rd quarter worth $31,000. Synovus Financial Corp grew its stake in Huntington Bancshares by 135.5% during the 3rd quarter. Synovus Financial Corp now owns 2,777 shares of the bank’s stock worth $40,000 after buying an additional 1,598 shares during the last quarter. Finally, Horan Capital Advisors LLC. purchased a new position in Huntington Bancshares during the 3rd quarter worth $41,000. Institutional investors and hedge funds own 75.14% of the company’s stock.
Several research analysts recently weighed in on HBAN shares. Raymond James dropped their target price on Huntington Bancshares from $17.00 to $15.50 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Bank of America downgraded Huntington Bancshares from a “buy” rating to a “neutral” rating and set a $15.00 target price on the stock. in a research note on Friday, October 25th. Barclays restated a “hold” rating and set a $17.00 target price on shares of Huntington Bancshares in a research note on Tuesday, January 7th. ValuEngine upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, January 24th. Finally, Nomura reiterated a “hold” rating and set a $14.00 price target on shares of Huntington Bancshares in a research note on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. Huntington Bancshares currently has an average rating of “Hold” and an average price target of $15.31.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.03). The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Huntington Bancshares had a net margin of 24.95% and a return on equity of 13.44%. During the same quarter in the previous year, the firm posted $0.29 EPS. As a group, analysts predict that Huntington Bancshares Incorporated will post 1.28 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.60 annualized dividend and a yield of 4.26%. Huntington Bancshares’s payout ratio is presently 47.24%.
In other news, EVP Paul G. Heller sold 7,144 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $14.76, for a total value of $105,445.44. Also, Director Richard W. Neu acquired 5,900 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was bought at an average cost of $13.48 per share, with a total value of $79,532.00. Following the acquisition, the director now owns 216,516 shares in the company, valued at $2,918,635.68. The disclosure for this purchase can be found here. Insiders own 1.22% of the company’s stock.
Huntington Bancshares Company Profile
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).
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