Resona Asset Management Co. Ltd. Invests $7.10 Million in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Resona Asset Management Co. Ltd. acquired a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 436,106 shares of the bank's stock, valued at approximately $7,102,000.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Huntington Bancshares by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank's stock worth $1,056,353,000 after acquiring an additional 2,218,020 shares during the period. Geode Capital Management LLC boosted its holdings in Huntington Bancshares by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank's stock valued at $540,422,000 after purchasing an additional 473,893 shares in the last quarter. Victory Capital Management Inc. increased its position in Huntington Bancshares by 7.4% during the 4th quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank's stock worth $355,094,000 after purchasing an additional 1,506,606 shares during the period. Norges Bank purchased a new position in shares of Huntington Bancshares during the 4th quarter worth approximately $302,826,000. Finally, Amundi raised its stake in shares of Huntington Bancshares by 26.7% during the 4th quarter. Amundi now owns 17,435,207 shares of the bank's stock worth $286,460,000 after buying an additional 3,671,235 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on HBAN. Robert W. Baird raised Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 price objective on the stock in a report on Friday, March 7th. Citigroup lowered their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. JPMorgan Chase & Co. reduced their price objective 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. Baird R W upgraded shares of Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 7th. Finally, Morgan Stanley dropped their target price on shares of Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Huntington Bancshares currently has an average rating of "Moderate Buy" and an average price target of $17.94.

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Huntington Bancshares Price Performance

NASDAQ:HBAN remained flat at $12.89 on Friday. 23,058,613 shares of the company's stock were exchanged, compared to its average volume of 17,306,311. Huntington Bancshares Incorporated has a 52 week low of $11.92 and a 52 week high of $18.45. The stock has a market cap of $18.83 billion, a P/E ratio of 10.48, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The stock's 50-day simple moving average is $15.21 and its two-hundred day simple moving average is $16.06. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating 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 prior year, the business earned $0.27 EPS. As a group, research analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were given a dividend of $0.155 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.62 annualized dividend and a yield of 4.81%. Huntington Bancshares's dividend payout ratio (DPR) is presently 50.41%.

Insiders Place Their Bets

In related news, VP Brendan A. Lawlor sold 3,521 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $15.25, for a total transaction of $53,695.25. Following the completion of the transaction, the vice president now owns 47,950 shares of the company's stock, valued at approximately $731,237.50. This represents a 6.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Scott D. Kleinman sold 69,088 shares of Huntington Bancshares stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the completion of the transaction, the vice president now owns 453,129 shares in the company, valued at approximately $6,647,402.43. This trade represents a 13.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 111,781 shares of company stock valued at $1,631,151. Insiders own 0.89% of the company's stock.

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.