Mitsubishi UFJ Trust & Banking Corp Cuts Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Mitsubishi UFJ Trust & Banking Corp lowered its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 659,005 shares of the bank’s stock after selling 46,228 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Huntington Bancshares were worth $10,722,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HBAN. Creative Capital Management Investments LLC boosted its holdings in shares of Huntington Bancshares by 17,533.3% in the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock worth $26,000 after buying an additional 1,578 shares during the last quarter. Y.D. More Investments Ltd boosted its stake in Huntington Bancshares by 126.8% in the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock valued at $30,000 after acquiring an additional 1,023 shares during the last quarter. Midwest Capital Advisors LLC bought a new position in shares of Huntington Bancshares during the 4th quarter valued at approximately $37,000. Asset Dedication LLC increased its stake in shares of Huntington Bancshares by 70.0% during the 4th quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock worth $50,000 after purchasing an additional 1,260 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Huntington Bancshares by 27.2% in the 4th quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock worth $53,000 after purchasing an additional 702 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on HBAN shares. Piper Sandler decreased their target price on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research report on Tuesday, January 21st. Barclays upped their price target on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Truist Financial lifted their price objective on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Royal Bank of Canada reissued an “outperform” rating and set a $20.00 target price on shares of Huntington Bancshares in a report on Tuesday, January 21st. Finally, Baird R W raised Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.18.

Insider Activity

In other news, CFO Zachary Jacob Wasserman sold 38,451 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total transaction of $552,925.38. Following the completion of the sale, the chief financial officer now owns 335,538 shares of the company’s stock, valued at $4,825,036.44. The trade was a 10.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Brendan A. Lawlor sold 3,521 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 47,950 shares in the company, valued at approximately $731,237.50. This represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,781 shares of company stock valued at $1,631,151 in the last ninety days. 0.89% of the stock is currently owned by company insiders.

Huntington Bancshares Stock Down 2.2 %

Shares of Huntington Bancshares stock opened at $14.79 on Friday. The company has a 50-day simple moving average of $16.07 and a two-hundred day simple moving average of $16.14. The stock has a market capitalization of $21.60 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. Huntington Bancshares Incorporated has a 52-week low of $12.05 and a 52-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.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period last year, the company posted $0.27 earnings per share. On average, analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

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

Huntington Bancshares Company Profile

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.