State Street Corp Purchases 7,439,909 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

State Street Corp raised its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 10.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 79,474,115 shares of the bank's stock after acquiring an additional 7,439,909 shares during the period. State Street Corp owned approximately 5.47% of Huntington Bancshares worth $1,179,319,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Asset Dedication LLC increased its stake in Huntington Bancshares by 200.7% during the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank's stock worth $26,000 after purchasing an additional 1,202 shares in the last quarter. Peoples Bank KS acquired a new position in shares of Huntington Bancshares during the 3rd quarter worth about $29,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Huntington Bancshares in the third quarter valued at about $31,000. Fortitude Family Office LLC acquired a new position in Huntington Bancshares during the third quarter valued at approximately $32,000. Finally, Hazlett Burt & Watson Inc. grew its stake in Huntington Bancshares by 695.5% in the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank's stock valued at $30,000 after purchasing an additional 2,003 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the transaction, the insider now directly owns 558,342 shares in the company, valued at approximately $8,615,217.06. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the transaction, the vice president now directly owns 496,076 shares of the company's stock, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,699 shares of company stock valued at $757,356 in the last quarter. Insiders own 0.89% of the company's stock.

Huntington Bancshares Stock Performance

Shares of NASDAQ:HBAN traded down $0.09 during trading on Friday, hitting $17.61. 11,142,681 shares of the company were exchanged, compared to its average volume of 13,216,394. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. Huntington Bancshares Incorporated has a 52-week low of $11.68 and a 52-week high of $18.44. The company has a market cap of $25.58 billion, a PE ratio of 16.93, a P/E/G ratio of 3.51 and a beta of 1.06. The stock has a 50 day moving average of $16.36 and a 200 day moving average of $14.73.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company posted $0.36 EPS. As a group, equities research analysts predict that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.52%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares's payout ratio is 59.62%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on HBAN shares. Citigroup lifted their price objective on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a "buy" rating in a research report on Tuesday, November 19th. Sandler O'Neill reissued a "buy" rating on shares of Huntington Bancshares in a research report on Friday, October 18th. DA Davidson upped their target price on Huntington Bancshares from $16.50 to $17.50 and gave the stock a "buy" rating in a research note on Monday, October 21st. Barclays upped their price objective on Huntington Bancshares from $15.00 to $17.00 and gave the company an "equal weight" rating in a research note on Friday, October 18th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Huntington Bancshares from $16.00 to $19.00 and gave the company a "market perform" rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve 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 company presently has an average rating of "Moderate Buy" and an average price target of $17.24.

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.