Mirae Asset Global Investments Co. Ltd. Buys New Position in Huntington Bancshares Incorporated $HBAN

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 509,969 shares of the bank’s stock, valued at approximately $7,782,000.

Several other institutional investors have also added to or reduced their stakes in HBAN. Profund Advisors LLC increased its stake in shares of Huntington Bancshares by 6.4% in the 3rd quarter. Profund Advisors LLC now owns 24,410 shares of the bank’s stock worth $372,000 after purchasing an additional 1,462 shares in the last quarter. Investment Partners LTD. raised its holdings in Huntington Bancshares by 125.7% in the 3rd quarter. Investment Partners LTD. now owns 123,165 shares of the bank’s stock worth $1,880,000 after purchasing an additional 68,606 shares during the period. Americana Partners LLC raised its holdings in Huntington Bancshares by 3.9% in the 3rd quarter. Americana Partners LLC now owns 124,808 shares of the bank’s stock worth $1,905,000 after purchasing an additional 4,627 shares during the period. Glenview Trust Co lifted its position in Huntington Bancshares by 9.9% during the third quarter. Glenview Trust Co now owns 11,600 shares of the bank’s stock valued at $177,000 after purchasing an additional 1,047 shares in the last quarter. Finally, Parcion Private Wealth LLC lifted its position in Huntington Bancshares by 31.7% during the third quarter. Parcion Private Wealth LLC now owns 25,902 shares of the bank’s stock valued at $395,000 after purchasing an additional 6,242 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors.

Insider Activity

In other Huntington Bancshares news, Director James D. Rollins III bought 14,000 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The stock was purchased 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. This trade represents a 933.33% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Donnell R. White sold 3,000 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $15.87, for a total value of $47,610.00. Following the sale, the senior vice president directly owned 23,697 shares in the company, valued at $376,071.39. This trade represents a 11.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.67% of the company’s stock.

Huntington Bancshares Stock Up 1.3%

Shares of HBAN stock opened at $16.06 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.91 and a quick ratio of 0.91. Huntington Bancshares Incorporated has a one year low of $14.82 and a one year high of $19.45. The company’s fifty day moving average price is $15.90 and its 200-day moving average price is $16.68. The company has a market capitalization of $32.45 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.02 and a beta of 0.97.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, October 22nd. The bank reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38. Huntington Bancshares had a net margin of 16.28% and a return on equity of 10.93%. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the firm posted $0.41 EPS. Sell-side analysts expect that Huntington Bancshares Incorporated will post 1.54 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

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

Wall Street Analysts Forecast Growth

HBAN has been the subject of several recent research reports. Weiss Ratings lowered Huntington Bancshares from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, October 27th. Wells Fargo & Company decreased their price objective on Huntington Bancshares from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, October 23rd. Robert W. Baird lowered their price objective on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, October 23rd. Citigroup lowered their price objective on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday, October 26th. Finally, Jefferies Financial Group cut their price objective on Huntington Bancshares from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and an average price target of $18.98.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and residential lending, credit cards, auto finance, mortgages, commercial loans, treasury management, investment and wealth management services, insurance, and other financial solutions.