Mitsubishi UFJ Asset Management Co. Ltd. Grows Position in Huntington Bancshares Incorporated $HBAN

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 7.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,967,010 shares of the bank’s stock after purchasing an additional 197,782 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.20% of Huntington Bancshares worth $51,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Huntington Bancshares by 0.4% in the third quarter. Vanguard Group Inc. now owns 176,980,819 shares of the bank’s stock worth $3,056,459,000 after buying an additional 680,601 shares during the period. Boston Partners increased its stake in Huntington Bancshares by 4.8% in the second quarter. Boston Partners now owns 60,939,048 shares of the bank’s stock worth $1,020,382,000 after purchasing an additional 2,776,429 shares during the period. Invesco Ltd. lifted its position in shares of Huntington Bancshares by 1.8% during the second quarter. Invesco Ltd. now owns 58,201,659 shares of the bank’s stock worth $975,460,000 after purchasing an additional 1,015,066 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Huntington Bancshares by 1.7% during the second quarter. Geode Capital Management LLC now owns 39,450,879 shares of the bank’s stock valued at $658,541,000 after purchasing an additional 640,852 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Huntington Bancshares by 1.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 28,384,949 shares of the bank’s stock worth $475,558,000 after purchasing an additional 397,141 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on HBAN. Raymond James Financial boosted their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “strong-buy” rating in a research report on Friday, January 23rd. Evercore started coverage on Huntington Bancshares in a report on Tuesday, February 3rd. They issued an “outperform” rating and a $21.00 price target for the company. Wolfe Research restated an “outperform” rating and set a $21.00 price objective on shares of Huntington Bancshares in a report on Wednesday, January 7th. Keefe, Bruyette & Woods lowered their target price on Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating for the company in a report on Friday, January 23rd. Finally, Zacks Research downgraded Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.60.

Huntington Bancshares Price Performance

Shares of HBAN stock opened at $16.80 on Friday. The stock’s 50-day moving average is $17.81 and its 200 day moving average is $17.08. Huntington Bancshares Incorporated has a 1-year low of $11.91 and a 1-year high of $19.45. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.92. The company has a market cap of $34.10 billion, a P/E ratio of 12.09, a PEG ratio of 0.68 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the previous year, the company posted $0.34 earnings per share. Research analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.7%. The ex-dividend date is Wednesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is 44.60%.

Insider Buying and Selling

In other news, insider Amit Dhingra sold 10,000 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $18.50, for a total transaction of $185,000.00. Following the completion of the sale, the insider owned 155,634 shares in the company, valued at approximately $2,879,229. This represents a 6.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kendall A. Kowalski sold 2,481 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $17.80, for a total value of $44,161.80. Following the completion of the sale, the insider directly owned 71,566 shares of the company’s stock, valued at $1,273,874.80. The trade was a 3.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 50,145 shares of company stock valued at $929,885 over the last quarter. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.