Legal & General Group Plc cut its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 17.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,120,545 shares of the bank's stock after selling 1,897,129 shares during the quarter. Legal & General Group Plc owned about 0.63% of Huntington Bancshares worth $148,391,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. Quantinno Capital Management LP lifted its position in Huntington Bancshares by 13.7% during the third quarter. Quantinno Capital Management LP now owns 117,036 shares of the bank's stock worth $1,720,000 after buying an additional 14,089 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its position in shares of Huntington Bancshares by 131.6% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 37,591 shares of the bank's stock valued at $553,000 after acquiring an additional 21,357 shares during the last quarter. MML Investors Services LLC grew its holdings in shares of Huntington Bancshares by 1.8% in the third quarter. MML Investors Services LLC now owns 447,472 shares of the bank's stock valued at $6,578,000 after purchasing an additional 8,025 shares during the period. Nomura Asset Management Co. Ltd. increased its position in Huntington Bancshares by 7.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 445,637 shares of the bank's stock worth $6,551,000 after purchasing an additional 30,830 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in Huntington Bancshares by 2.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 565,027 shares of the bank's stock valued at $8,306,000 after purchasing an additional 14,482 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company's stock.
Analysts Set New Price Targets
Several analysts have recently commented on HBAN shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $20.00 price target on shares of Huntington Bancshares in a research report on Tuesday, January 21st. Barclays upped their price target on Huntington Bancshares from $17.00 to $19.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. Stephens restated an "equal weight" rating and issued a $18.50 price objective on shares of Huntington Bancshares in a report on Friday, February 7th. JPMorgan Chase & Co. lowered their target price on shares of Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. Finally, Morgan Stanley lowered their price objective on shares of Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $17.94.
Read Our Latest Stock Report on Huntington Bancshares
Huntington Bancshares Stock Up 3.0 %
NASDAQ HBAN traded up $0.40 during trading on Tuesday, reaching $13.55. 6,616,152 shares of the company's stock were exchanged, compared to its average volume of 17,261,434. Huntington Bancshares Incorporated has a 1 year low of $11.92 and a 1 year high of $18.45. The stock has a market cap of $19.79 billion, a P/E ratio of 11.02, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The company has a 50 day moving average price of $15.14 and a two-hundred day moving average price of $16.05.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) 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%. During the same period in the prior year, the business earned $0.27 earnings per share. On average, equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.
Huntington Bancshares Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend was Tuesday, March 18th. Huntington Bancshares's dividend payout ratio (DPR) is currently 50.41%.
Insider Activity
In other Huntington Bancshares news, VP Brendan A. Lawlor sold 3,521 shares of Huntington Bancshares stock in a transaction on Monday, March 24th. The shares were 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 approximately $731,237.50. The trade was a 6.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the stock in a transaction dated Thursday, March 13th. The stock was 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. In the last three months, insiders sold 111,781 shares of company stock valued at $1,631,151. Insiders own 0.89% of the company's stock.
About Huntington Bancshares
(
Free Report)
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.
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