Teacher Retirement System of Texas raised its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report) by 1,462.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 212,390 shares of the bank’s stock after acquiring an additional 198,796 shares during the quarter. Teacher Retirement System of Texas’ holdings in Huntington Bancshares were worth $3,188,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in Huntington Bancshares during the fourth quarter worth approximately $302,826,000. FMR LLC grew its stake in Huntington Bancshares by 36.9% in the 4th quarter. FMR LLC now owns 32,479,039 shares of the bank’s stock worth $528,434,000 after acquiring an additional 8,759,871 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Huntington Bancshares by 126.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,048,773 shares of the bank’s stock worth $114,684,000 after purchasing an additional 3,938,769 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. grew its holdings in Huntington Bancshares by 356.1% during the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 4,432,186 shares of the bank’s stock worth $72,112,000 after acquiring an additional 3,460,328 shares in the last quarter. Finally, National Bank of Canada FI grew its holdings in Huntington Bancshares by 220.9% during the 4th quarter. National Bank of Canada FI now owns 3,666,949 shares of the bank’s stock worth $59,661,000 after acquiring an additional 2,524,077 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.
Huntington Bancshares Stock Performance
Shares of NASDAQ HBAN opened at $17.48 on Wednesday. The stock has a market cap of $25.53 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.34 and a beta of 0.93. The company has a 50 day simple moving average of $15.94 and a two-hundred day simple moving average of $15.69. Huntington Bancshares Incorporated has a 12 month low of $11.92 and a 12 month high of $18.45. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.98.
Huntington Bancshares Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th were issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date was Tuesday, June 17th. Huntington Bancshares’s payout ratio is presently 47.33%.
Huntington Bancshares declared that its board has authorized a share repurchase program on Thursday, April 17th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the bank to reacquire up to 5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on HBAN shares. TD Cowen started coverage on shares of Huntington Bancshares in a research note on Thursday, May 15th. They set a “buy” rating and a $20.00 price objective on the stock. Raymond James Financial reaffirmed a “strong-buy” rating and set a $21.00 target price (up previously from $18.00) on shares of Huntington Bancshares in a research report on Tuesday. Wall Street Zen raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday. Citigroup raised their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Finally, Royal Bank Of Canada lowered their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.48.
Read Our Latest Report on Huntington Bancshares
Insider Buying and Selling
In other Huntington Bancshares news, EVP Marcy C. Hingst sold 13,700 shares of the company’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $15.79, for a total value of $216,323.00. Following the completion of the transaction, the executive vice president owned 337,879 shares in the company, valued at approximately $5,335,109.41. This represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brantley J. Standridge sold 70,417 shares of the company’s stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $13.69, for a total transaction of $964,008.73. Following the completion of the transaction, the vice president owned 326,456 shares of the company’s stock, valued at approximately $4,469,182.64. This trade represents a 17.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 214,375 shares of company stock valued at $3,049,277 in the last three months. 0.89% of the stock is currently owned by company insiders.
Huntington Bancshares 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.
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