Mirae Asset Global Investments Co. Ltd. Increases Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 19.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,208,948 shares of the bank's stock after purchasing an additional 200,525 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.08% of Huntington Bancshares worth $19,801,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Arvest Bank Trust Division purchased a new stake in Huntington Bancshares in the third quarter worth about $2,381,000. Mediolanum International Funds Ltd purchased a new stake in shares of Huntington Bancshares in the 4th quarter worth approximately $422,000. Donoghue Forlines LLC bought a new position in shares of Huntington Bancshares during the fourth quarter valued at approximately $1,460,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Huntington Bancshares by 5.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank's stock valued at $12,414,000 after buying an additional 44,662 shares during the period. Finally, Petiole USA ltd purchased a new stake in Huntington Bancshares during the third quarter worth $3,454,000. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Performance

NASDAQ:HBAN traded down $0.24 during midday trading on Friday, hitting $16.92. The company's stock had a trading volume of 15,234,144 shares, compared to its average volume of 19,882,658. 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 Incorporated has a fifty-two week low of $12.05 and a fifty-two week high of $18.44. The firm's 50 day moving average is $16.84 and its 200-day moving average is $15.81. The firm has a market cap of $24.58 billion, a P/E ratio of 13.76, a P/E/G ratio of 1.41 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter in the previous year, the firm earned $0.27 earnings per share. Equities analysts anticipate that Huntington Bancshares Incorporated will post 1.4 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

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 $0.155 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.66%. Huntington Bancshares's payout ratio is 50.41%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HBAN. Citigroup lifted their price target on Huntington Bancshares from $18.00 to $21.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. DA Davidson boosted their target price on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a "buy" rating in a report on Monday, October 21st. Truist Financial raised their price target on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Barclays boosted their price objective on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Huntington Bancshares from $16.00 to $19.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $18.06.

Insider Buying and Selling

In other news, CFO Zachary Jacob Wasserman sold 8,644 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the transaction, the chief financial officer now directly owns 259,943 shares of the company's stock, valued at $4,582,795.09. This represents a 3.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the sale, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by corporate insiders.

Huntington Bancshares Company 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.