Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Holdings in Huntington Bancshares Incorporated $HBAN

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 8.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,769,228 shares of the bank’s stock after acquiring an additional 218,713 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Huntington Bancshares were worth $46,412,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Family Legacy Financial Solutions LLC purchased a new stake in shares of Huntington Bancshares during the second quarter worth approximately $25,000. Quarry LP boosted its stake in Huntington Bancshares by 73.0% during the 1st quarter. Quarry LP now owns 1,929 shares of the bank’s stock worth $29,000 after purchasing an additional 814 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Huntington Bancshares during the second quarter worth $30,000. TruNorth Capital Management LLC purchased a new stake in shares of Huntington Bancshares during the first quarter worth $40,000. Finally, Cary Street Partners Investment Advisory LLC raised its position in shares of Huntington Bancshares by 74.7% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 2,794 shares of the bank’s stock valued at $42,000 after buying an additional 1,195 shares during the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Huntington Bancshares Trading Up 0.8%

NASDAQ HBAN opened at $15.81 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.92 and a quick ratio of 0.91. The stock has a market capitalization of $23.07 billion, a P/E ratio of 11.06, a PEG ratio of 0.66 and a beta of 1.01. The firm’s 50-day moving average is $16.62 and its two-hundred day moving average is $16.39. Huntington Bancshares Incorporated has a 12 month low of $11.91 and a 12 month high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Wednesday, June 11th. The bank reported $0.28 earnings per share for the quarter. Huntington Bancshares had a net margin of 18.06% and a return on equity of 12.14%. The business had revenue of $469.00 million during the quarter. On average, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Thursday, December 18th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Thursday, December 18th. Huntington Bancshares’s dividend payout ratio is 43.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on HBAN shares. Wall Street Zen upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Jefferies Financial Group lowered their target price on Huntington Bancshares from $20.00 to $19.00 in a report on Monday, November 3rd. Raymond James Financial reiterated a “strong-buy” rating and set a $20.00 price objective (down previously from $21.00) on shares of Huntington Bancshares in a research report on Monday, October 20th. Keefe, Bruyette & Woods boosted their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “market perform” rating in a research note on Monday, October 20th. Finally, TD Cowen raised their target price on Huntington Bancshares from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $19.66.

Insider Buying and Selling at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 41,100 shares of Huntington Bancshares stock in a transaction on Friday, September 5th. The stock was sold at an average price of $18.00, for a total value of $739,800.00. Following the completion of the sale, the executive vice president directly owned 299,361 shares of the company’s stock, valued at approximately $5,388,498. The trade was a 12.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John C. Inglis acquired 6,506 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was purchased at an average price of $15.30 per share, for a total transaction of $99,541.80. Following the acquisition, the director directly owned 89,831 shares in the company, valued at approximately $1,374,414.30. This trade represents a 7.81% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.89% of the company’s stock.

About Huntington Bancshares

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.