Mitsubishi UFJ Trust & Banking Corp Sells 46,228 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Mitsubishi UFJ Trust & Banking Corp lowered its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 659,005 shares of the bank’s stock after selling 46,228 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Huntington Bancshares were worth $10,722,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of HBAN. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Huntington Bancshares by 4.7% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 217,540 shares of the bank’s stock worth $3,539,000 after purchasing an additional 9,758 shares during the last quarter. Prudential Financial Inc. raised its holdings in shares of Huntington Bancshares by 3.3% during the 4th quarter. Prudential Financial Inc. now owns 1,216,233 shares of the bank’s stock worth $19,788,000 after buying an additional 38,816 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Huntington Bancshares during the 4th quarter worth $166,000. KLP Kapitalforvaltning AS acquired a new stake in Huntington Bancshares in the fourth quarter valued at about $8,035,000. Finally, Sei Investments Co. grew its position in Huntington Bancshares by 1.8% in the fourth quarter. Sei Investments Co. now owns 665,682 shares of the bank’s stock valued at $10,831,000 after acquiring an additional 11,492 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $14.79 on Friday. The firm’s fifty day simple moving average is $16.07 and its two-hundred day simple moving average is $16.14. Huntington Bancshares Incorporated has a 12 month low of $12.05 and a 12 month high of $18.45. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $21.60 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, topping the consensus estimate 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 in the previous year, the company earned $0.27 earnings per share. As a group, analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird upgraded shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price target on the stock in a research note on Friday, March 7th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $20.00 price objective (up previously from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th. Truist Financial boosted their target price on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. Finally, Keefe, Bruyette & Woods raised their price objective on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.18.

Insiders Place Their Bets

In related news, VP Brendan A. Lawlor sold 3,521 shares of the 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 directly owns 47,950 shares in the company, valued at $731,237.50. This trade represents a 6.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total transaction of $552,925.38. Following the sale, the chief financial officer now owns 335,538 shares of the company’s stock, valued at $4,825,036.44. This trade represents a 10.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,781 shares of company stock worth $1,631,151. 0.89% of the stock is currently owned by company 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.