CANADA LIFE ASSURANCE Co Acquires 564,729 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

CANADA LIFE ASSURANCE Co increased its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 53.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,617,730 shares of the bank's stock after buying an additional 564,729 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.11% of Huntington Bancshares worth $22,577,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in HBAN. Boston Partners raised its stake in shares of Huntington Bancshares by 59.3% in the fourth quarter. Boston Partners now owns 46,642,476 shares of the bank's stock valued at $593,408,000 after acquiring an additional 17,365,446 shares in the last quarter. Norges Bank purchased a new stake in Huntington Bancshares during the 4th quarter worth about $206,703,000. Dimensional Fund Advisors LP raised its position in Huntington Bancshares by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,130,774 shares of the bank's stock valued at $192,473,000 after purchasing an additional 765,070 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Huntington Bancshares by 3.1% in the 1st quarter. Raymond James & Associates now owns 7,403,303 shares of the bank's stock valued at $103,276,000 after buying an additional 225,911 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Huntington Bancshares by 39.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank's stock worth $83,124,000 after buying an additional 1,838,019 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Monday. Stephens restated an "equal weight" rating and set a $15.00 target price on shares of Huntington Bancshares in a research note on Monday, April 22nd. UBS Group dropped their price target on shares of Huntington Bancshares from $16.00 to $15.00 and set a "buy" rating on the stock in a research note on Thursday, June 13th. StockNews.com downgraded shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday, June 19th. Finally, Robert W. Baird downgraded shares of Huntington Bancshares from an "outperform" rating to a "neutral" rating and set a $15.00 target price on the stock. in a research report on Friday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $15.47.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Nancy E. Maloney sold 57,537 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total value of $871,685.55. Following the completion of the transaction, the vice president now owns 69,595 shares in the company, valued at approximately $1,054,364.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Zachary Jacob Wasserman sold 33,000 shares of Huntington Bancshares stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the transaction, the chief financial officer now owns 265,809 shares of the company's stock, valued at approximately $4,021,690.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Nancy E. Maloney sold 57,537 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total transaction of $871,685.55. Following the completion of the sale, the vice president now directly owns 69,595 shares in the company, valued at $1,054,364.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 152,418 shares of company stock valued at $2,214,979. 0.89% of the stock is owned by company insiders.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock traded up $0.07 during trading hours on Friday, hitting $15.13. 16,492,031 shares of the company were exchanged, compared to its average volume of 17,527,998. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The business has a 50-day moving average of $13.43 and a 200-day moving average of $13.29. Huntington Bancshares Incorporated has a 1 year low of $9.25 and a 1 year high of $15.24. The stock has a market capitalization of $21.93 billion, a price-to-earnings ratio of 13.63, a P/E/G ratio of 3.05 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings data on Friday, July 19th. The bank reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.02. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter last year, the firm earned $0.35 earnings per share. As a group, analysts expect that Huntington Bancshares Incorporated will post 1.19 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend is Tuesday, September 17th. Huntington Bancshares's payout ratio is 55.86%.

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.