Meiji Yasuda Life Insurance Co Sells 43,471 Shares of Huntington Bancshares Incorporated $HBAN

Meiji Yasuda Life Insurance Co decreased its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 53.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,209 shares of the bank’s stock after selling 43,471 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Huntington Bancshares were worth $660,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. MTM Investment Management LLC purchased a new stake in shares of Huntington Bancshares during the 2nd quarter valued at $25,000. Accredited Wealth Management LLC grew its position 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 acquiring an additional 1,322 shares in the last quarter. Grey Fox Wealth Advisors LLC purchased a new position in Huntington Bancshares in the third quarter worth $31,000. AlphaCore Capital LLC bought a new position in Huntington Bancshares in the third quarter valued at $33,000. Finally, First Horizon Corp bought a new position in Huntington Bancshares in the third quarter valued at $36,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $16.31 on Monday. The firm has a market capitalization of $33.11 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 0.66 and a beta of 0.95. The stock has a fifty day moving average of $17.70 and a 200 day moving average of $17.08. Huntington Bancshares Incorporated has a 52 week low of $11.91 and a 52 week high of $19.45. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the previous year, the firm posted $0.34 earnings per share. As a group, research analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, March 18th. This represents a $0.62 annualized dividend and a yield of 3.8%. Huntington Bancshares’s dividend payout ratio (DPR) is 44.60%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on HBAN shares. Wolfe Research reaffirmed an “outperform” rating and set a $21.00 price target on shares of Huntington Bancshares in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods decreased their price objective on Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating on the stock in a report on Friday, January 23rd. Truist Financial boosted their target price on Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. JPMorgan Chase & Co. upped their target price on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Finally, Zacks Research cut shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. One investment 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 issued a Sell rating to the company. According to MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average price target of $20.78.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Amit Dhingra sold 10,000 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $18.50, for a total transaction of $185,000.00. Following the sale, the insider directly owned 155,634 shares of the company’s stock, valued at approximately $2,879,229. The trade was a 6.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Brantley J. Standridge sold 5,830 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $19.14, for a total value of $111,586.20. Following the transaction, the vice president owned 327,676 shares in the company, valued at $6,271,718.64. This trade represents a 1.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders bought 26,488 shares of company stock valued at $510,286 and sold 50,145 shares valued at $929,885. 0.89% of the stock is currently owned by corporate insiders.

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.