Huntington Bancshares Incorporated $HBAN Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 17.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,184,586 shares of the bank’s stock after acquiring an additional 1,993,618 shares during the quarter. Bank of New York Mellon Corp’s holdings in Huntington Bancshares were worth $206,339,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of HBAN. Illinois Municipal Retirement Fund increased its stake in Huntington Bancshares by 16.1% during the first quarter. Illinois Municipal Retirement Fund now owns 53,191 shares of the bank’s stock worth $832,000 after purchasing an additional 7,390 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Huntington Bancshares by 7.8% in the first quarter. Geneos Wealth Management Inc. now owns 285,169 shares of the bank’s stock valued at $4,463,000 after purchasing an additional 20,722 shares in the last quarter. MASTERINVEST Kapitalanlage GmbH grew its holdings in shares of Huntington Bancshares by 1.4% in the first quarter. MASTERINVEST Kapitalanlage GmbH now owns 130,884 shares of the bank’s stock valued at $2,048,000 after purchasing an additional 1,863 shares in the last quarter. Ethos Financial Group LLC increased its stake in Huntington Bancshares by 2.8% during the 1st quarter. Ethos Financial Group LLC now owns 73,984 shares of the bank’s stock worth $1,169,000 after buying an additional 2,045 shares during the period. Finally, SouthState Bank Corp increased its stake in Huntington Bancshares by 19,902.9% during the 1st quarter. SouthState Bank Corp now owns 131,819 shares of the bank’s stock worth $2,063,000 after buying an additional 131,160 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Trading Down 1.7%

NASDAQ:HBAN opened at $18.25 on Friday. Huntington Bancshares Incorporated has a 1 year low of $14.89 and a 1 year high of $19.45. The stock has a market cap of $37.00 billion, a P/E ratio of 14.04, a P/E/G ratio of 0.82 and a beta of 0.93. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a 50-day simple moving average of $16.90 and a 200-day simple moving average of $16.92.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.21. The business had revenue of $2.59 billion for the quarter, compared to analyst estimates 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 company earned $0.34 EPS. As a group, analysts anticipate that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.4%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 47.69%.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HBAN shares. Jefferies Financial Group lowered shares of Huntington Bancshares from a “buy” rating to a “hold” rating and reduced their target price for the stock from $21.00 to $19.00 in a report on Monday, July 6th. Wall Street Zen raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. UBS Group increased their price objective on Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. The Goldman Sachs Group decreased their target price on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a report on Monday, April 6th. Finally, Evercore reissued an “outperform” rating and set a $21.00 target price on shares of Huntington Bancshares in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.25.

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.