Resona Asset Management Co. Ltd. Buys 160,145 Shares of Huntington Bancshares Incorporated $HBAN

Resona Asset Management Co. Ltd. grew its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 33.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 635,301 shares of the bank’s stock after buying an additional 160,145 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Huntington Bancshares were worth $9,867,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HBAN. MV Capital Management Inc. bought a new stake in Huntington Bancshares in the fourth quarter valued at approximately $25,000. Palisade Asset Management LLC bought a new position in Huntington Bancshares during the 3rd quarter worth approximately $26,000. South Plains Financial Inc. raised its holdings in Huntington Bancshares by 116.3% during the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after purchasing an additional 826 shares during the last quarter. Centennial Bank AR acquired a new position in shares of Huntington Bancshares in the 4th quarter worth approximately $28,000. Finally, DV Equities LLC acquired a new position in shares of Huntington Bancshares in the 4th quarter worth approximately $38,000. 80.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HBAN has been the subject of several recent analyst reports. Morgan Stanley increased their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Truist Financial cut their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. DA Davidson decreased their price target on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a report on Monday, March 16th. Weiss Ratings raised Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. Finally, Piper Sandler raised Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price objective on the stock in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.25.

Huntington Bancshares Stock Up 0.6%

HBAN stock traded up $0.11 during trading on Friday, reaching $17.87. 14,157,471 shares of the stock were exchanged, compared to its average volume of 19,734,146. The firm’s 50 day moving average is $16.73 and its 200 day moving average is $16.91. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. The firm has a market cap of $36.22 billion, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 0.81 and a beta of 0.93.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. The firm had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same quarter last year, the firm posted $0.34 earnings per share. As a group, research analysts forecast that Huntington Bancshares Incorporated will post 1.62 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th were given a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.5%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 47.69%.

Insiders Place Their Bets

In other Huntington Bancshares news, Director James D. Rollins III sold 223,522 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the transaction, the director owned 612,155 shares in the company, valued at approximately $10,620,889.25. This represents a 26.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Marcy C. Hingst sold 10,568 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the transaction, the executive vice president directly owned 267,859 shares in the company, valued at $4,821,462. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have acquired a total of 33,500 shares of company stock valued at $617,542 in the last 90 days. 0.67% of the stock is currently owned by company insiders.

About Huntington Bancshares

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.