Mitsubishi UFJ Asset Management Co. Ltd. Raises Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,257,774 shares of the bank’s stock after acquiring an additional 140,124 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Huntington Bancshares were worth $37,140,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of HBAN. Carlson Capital Management lifted its stake in shares of Huntington Bancshares by 0.4% during the 4th quarter. Carlson Capital Management now owns 163,575 shares of the bank’s stock worth $2,661,000 after purchasing an additional 692 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Huntington Bancshares by 6.0% during the fourth quarter. Farther Finance Advisors LLC now owns 12,317 shares of the bank’s stock valued at $200,000 after buying an additional 699 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of Huntington Bancshares by 27.2% during the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock valued at $53,000 after buying an additional 702 shares during the last quarter. Lantz Financial LLC boosted its holdings in shares of Huntington Bancshares by 6.1% in the 4th quarter. Lantz Financial LLC now owns 13,766 shares of the bank’s stock valued at $224,000 after buying an additional 790 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. grew its position in shares of Huntington Bancshares by 7.2% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 11,765 shares of the bank’s stock worth $191,000 after buying an additional 795 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

Shares of HBAN opened at $14.79 on Friday. Huntington Bancshares Incorporated has a fifty-two week low of $12.05 and a fifty-two week high of $18.45. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The company has a market capitalization of $21.60 billion, a P/E ratio of 12.02, a P/E/G ratio of 1.33 and a beta of 1.07. The business’s 50-day moving average is $16.07 and its two-hundred day moving average is $16.14.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter in the previous year, the company earned $0.27 earnings per share. Research analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 annualized dividend and a yield of 4.19%. Huntington Bancshares’s dividend payout ratio is presently 50.41%.

Analysts Set New Price Targets

Several brokerages have weighed in on HBAN. Robert W. Baird upgraded shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 target price for the company in a research note on Friday, March 7th. Stephens reissued an “equal weight” rating and issued a $18.50 price objective on shares of Huntington Bancshares in a research report on Friday, February 7th. Citigroup reduced their target price on Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Keefe, Bruyette & Woods boosted their price target on Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.18.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, VP Brendan A. Lawlor sold 3,521 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $15.25, for a total value of $53,695.25. Following the sale, the vice president now directly owns 47,950 shares of the company’s stock, valued at approximately $731,237.50. This trade represents a 6.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Scott D. Kleinman sold 69,088 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the transaction, the vice president now directly owns 453,129 shares of the company’s stock, valued at approximately $6,647,402.43. The trade was a 13.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 111,781 shares of company stock valued at $1,631,151. Corporate 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.