Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,257,774 shares of the bank’s stock after purchasing an additional 140,124 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of Huntington Bancshares worth $37,140,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. State Street Corp lifted its position in shares of Huntington Bancshares by 10.3% during the 3rd quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock valued at $1,179,319,000 after buying an additional 7,439,909 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in 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 valued at $1,056,353,000 after purchasing an additional 2,218,020 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Huntington Bancshares by 1.3% in the third quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock worth $540,422,000 after purchasing an additional 473,893 shares during the period. FMR LLC increased its stake in shares of Huntington Bancshares by 16.8% in the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock worth $348,672,000 after purchasing an additional 3,410,597 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Huntington Bancshares by 7.4% during 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. Institutional investors own 80.72% of the company’s stock.

Insider Transactions at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 69,088 shares of the business’s 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 completion of the sale, the vice president now owns 453,129 shares in the company, valued at approximately $6,647,402.43. The trade was a 13.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brendan A. Lawlor sold 3,521 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $15.25, for a total value of $53,695.25. Following the transaction, the vice president now owns 47,950 shares in the company, valued at $731,237.50. The trade was a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 111,781 shares of company stock worth $1,631,151. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Down 2.2 %

Shares of NASDAQ HBAN opened at $14.79 on Friday. Huntington Bancshares Incorporated has a 1 year low of $12.05 and a 1 year high of $18.45. The firm has a 50-day simple moving average of $16.07 and a two-hundred day simple moving average of $16.14. The company has a market cap of $21.60 billion, a P/E ratio of 12.02, a PEG ratio of 1.33 and a beta of 1.07. 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 (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter last year, the company posted $0.27 earnings per share. Research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

Analyst Ratings Changes

A number of brokerages have issued reports on HBAN. Baird R W upgraded Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. Stephens reiterated an “equal weight” rating and set a $18.50 target price on shares of Huntington Bancshares in a research report on Friday, February 7th. Piper Sandler lowered their price target on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday, January 21st. Citigroup cut their price objective on shares of Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating for the company in a report on Monday, March 24th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.18.

About Huntington Bancshares

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.