CANADA LIFE ASSURANCE Co Has $23.18 Million Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

CANADA LIFE ASSURANCE Co boosted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 11.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,424,624 shares of the bank's stock after acquiring an additional 149,586 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.10% of Huntington Bancshares worth $23,180,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Creative Capital Management Investments LLC raised its holdings in shares of Huntington Bancshares by 17,533.3% in the fourth quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank's stock valued at $26,000 after buying an additional 1,578 shares during the last quarter. Y.D. More Investments Ltd lifted its position in shares of Huntington Bancshares by 126.8% during the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank's stock worth $30,000 after purchasing an additional 1,023 shares in the last quarter. Midwest Capital Advisors LLC bought a new stake in shares of Huntington Bancshares during the fourth quarter valued at approximately $37,000. Asset Dedication LLC increased its holdings in shares of Huntington Bancshares by 70.0% in the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank's stock valued at $50,000 after purchasing an additional 1,260 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in Huntington Bancshares by 27.2% during the 4th quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank's stock worth $53,000 after buying an additional 702 shares in the last quarter. Institutional investors own 80.72% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on HBAN. Raymond James reiterated a "strong-buy" rating and issued a $18.00 price target (down previously from $20.00) on shares of Huntington Bancshares in a report on Monday. Baird R W raised shares of Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Stephens reaffirmed an "equal weight" rating and set a $16.50 target price on shares of Huntington Bancshares in a report on Monday. Barclays upped their price objective on Huntington Bancshares from $17.00 to $19.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. reduced their target price on Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Huntington Bancshares has an average rating of "Moderate Buy" and a consensus price target of $17.39.

Insiders Place Their Bets

In other Huntington Bancshares news, VP Scott D. Kleinman sold 69,088 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were 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 of the company's stock, valued at $6,647,402.43. The trade was a 13.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Brendan A. Lawlor sold 3,521 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $15.25, for a total transaction 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 represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 207,617 shares of company stock worth $2,942,892 over the last three months. Insiders own 0.89% of the company's stock.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock traded up $0.24 during trading on Wednesday, hitting $14.17. 20,633,752 shares of the stock were exchanged, compared to its average volume of 17,312,566. Huntington Bancshares Incorporated has a 1-year low of $11.92 and a 1-year 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 $20.70 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The company has a fifty day moving average price of $14.75 and a 200-day moving average price of $16.00.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, beating 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%. The business had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the prior year, the business earned $0.27 EPS. As a group, equities analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 4.38%. Huntington Bancshares's dividend payout ratio (DPR) is currently 47.33%.

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

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.