Bank of New York Mellon Corp Increases Position in Huntington Bancshares Incorporated $HBAN

Bank of New York Mellon Corp lifted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 26.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,190,968 shares of the bank’s stock after acquiring an additional 2,363,645 shares during the quarter. Bank of New York Mellon Corp owned 0.71% of Huntington Bancshares worth $194,163,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Palisade Asset Management LLC purchased a new stake in shares of Huntington Bancshares during the third quarter worth about $26,000. South Plains Financial Inc. grew its stake in Huntington Bancshares by 116.3% in the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after purchasing an additional 826 shares in the last quarter. Accredited Wealth Management LLC grew its stake in Huntington Bancshares by 374.5% in the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock worth $29,000 after purchasing an additional 1,322 shares in the last quarter. AlphaCore Capital LLC acquired a new position in Huntington Bancshares in the third quarter worth about $33,000. Finally, Quest 10 Wealth Builders Inc. grew its stake in Huntington Bancshares by 403.1% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 2,611 shares of the bank’s stock worth $45,000 after purchasing an additional 2,092 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $16.52 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. The business has a 50 day moving average of $16.14 and a two-hundred day moving average of $16.78. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45. The company has a market cap of $33.49 billion, a P/E ratio of 12.71, a PEG ratio of 0.75 and a beta of 0.94.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the previous year, the firm posted $0.34 earnings per share. As a group, analysts anticipate that Huntington Bancshares Incorporated will post 1.61 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Wednesday, June 17th. Huntington Bancshares’s payout ratio is presently 47.69%.

Analyst Ratings Changes

A number of equities analysts recently commented on HBAN shares. Royal Bank Of Canada decreased their price target on Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. 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 research note on Monday, March 16th. Morgan Stanley decreased their price target on Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, April 24th. Wall Street Zen upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, The Goldman Sachs Group decreased their price target on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.05.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, insider Prashant Nateri sold 10,171 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $15.50, for a total value of $157,650.50. Following the completion of the transaction, the insider directly owned 83,819 shares in the company, valued at $1,299,194.50. The trade was a 10.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James D. Rollins III bought 11,127 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was bought at an average price of $16.50 per share, with a total value of $183,595.50. Following the completion of the purchase, the director owned 11,127 shares of the company’s stock, valued at $183,595.50. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 34,627 shares of company stock worth $646,157 over the last ninety days. Company insiders own 0.67% of the company’s stock.

Huntington Bancshares Company Profile

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.