Huntington Bancshares Incorporated $HBAN Stock: M&G PLC Raises Holdings

M&G PLC boosted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 9.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 458,396 shares of the bank’s stock after buying an additional 39,644 shares during the period. M&G PLC’s holdings in Huntington Bancshares were worth $6,876,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Huntington Bancshares in the second quarter worth approximately $3,134,426,000. Dimensional Fund Advisors LP increased its holdings in shares of Huntington Bancshares by 27.2% during the first quarter. Dimensional Fund Advisors LP now owns 23,480,601 shares of the bank’s stock valued at $367,388,000 after acquiring an additional 5,026,894 shares in the last quarter. Amundi increased its holdings in shares of Huntington Bancshares by 30.7% during the first quarter. Amundi now owns 19,502,547 shares of the bank’s stock valued at $305,215,000 after acquiring an additional 4,578,566 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of Huntington Bancshares during the second quarter valued at approximately $256,772,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Huntington Bancshares during the second quarter worth approximately $229,246,000. 80.72% of the stock is owned by institutional investors and hedge funds.

Huntington Bancshares Trading Down 0.5%

Shares of HBAN stock opened at $15.84 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.91 and a current ratio of 0.91. Huntington Bancshares Incorporated has a 52-week low of $14.82 and a 52-week high of $19.45. The company has a market capitalization of $32.00 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97. The business’s fifty day moving average is $15.81 and its 200 day moving average is $16.63.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, October 22nd. The bank reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. Huntington Bancshares had a return on equity of 10.93% and a net margin of 16.28%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter last year, the company earned $0.41 earnings per share. On average, equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.54 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Friday, December 18th will be given a dividend of $0.1550 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is 51.24%.

Analysts Set New Price Targets

HBAN has been the subject of several research reports. Robert W. Baird reduced their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, October 23rd. Bank of America lowered Huntington Bancshares from a “buy” rating to a “neutral” rating and lowered their target price for the company from $20.00 to $18.50 in a research note on Monday, July 27th. UBS Group set a $18.00 price objective on Huntington Bancshares in a research note on Tuesday, October 6th. Weiss Ratings downgraded shares of Huntington Bancshares from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, October 27th. Finally, DA Davidson reduced their price target on Huntington Bancshares from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and an average price target of $18.89.

Insider Activity

In other Huntington Bancshares news, Director Gary Torgow acquired 12,700 shares of the business’s stock in a transaction dated Tuesday, October 27th. The stock was bought at an average price of $15.73 per share, with a total value of $199,771.00. Following the completion of the acquisition, the director owned 956,041 shares of the company’s stock, valued at $15,038,524.93. This trade represents a 1.35% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James Rollins, III acquired 14,000 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The stock was bought at an average price of $18.12 per share, for a total transaction of $253,680.00. Following the completion of the transaction, the director owned 15,500 shares of the company’s stock, valued at $280,860. The trade was a 933.33% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.67% of the company’s stock.

About Huntington Bancshares

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides consumer and commercial banking services to individuals, businesses, and institutions. The company traces its roots to 1866, when P.W. Huntington & Company opened in Columbus. Huntington’s offerings include checking and savings accounts, credit cards, mortgages, auto loans, business lending, treasury management, wealth management, and investment services.