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

Bank of New York Mellon Corp lifted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 26.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,190,968 shares of the bank’s stock after acquiring an additional 2,363,645 shares during the period. Bank of New York Mellon Corp’s holdings in Huntington Bancshares were worth $194,163,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Dynasty Wealth Management LLC boosted its position in shares of Huntington Bancshares by 28.2% during the fourth quarter. Dynasty Wealth Management LLC now owns 174,612 shares of the bank’s stock worth $3,030,000 after buying an additional 38,367 shares during the period. Root Financial Partners LLC boosted its position in shares of Huntington Bancshares by 47.9% during the fourth quarter. Root Financial Partners LLC now owns 3,784 shares of the bank’s stock worth $66,000 after buying an additional 1,225 shares during the period. BW Gestao de Investimentos Ltda. acquired a new position in shares of Huntington Bancshares during the fourth quarter worth approximately $17,697,000. New Mexico Educational Retirement Board boosted its position in shares of Huntington Bancshares by 2.6% during the fourth quarter. New Mexico Educational Retirement Board now owns 67,476 shares of the bank’s stock worth $1,171,000 after buying an additional 1,700 shares during the period. Finally, Swisher Financial Concepts Inc. acquired a new position in shares of Huntington Bancshares during the fourth quarter worth approximately $294,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on HBAN. Piper Sandler upgraded Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price objective for the company in a research report on Thursday, April 23rd. Truist Financial dropped their target price on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, March 13th. DA Davidson dropped their target price on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, March 16th. Wall Street Zen raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, The Goldman Sachs Group dropped their target price on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, April 6th. 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’s stock. According to data from MarketBeat.com, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus target price of $20.05.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, VP Scott D. Kleinman sold 65,530 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $15.28, for a total value of $1,001,298.40. Following the transaction, the vice president owned 481,676 shares of the company’s stock, valued at approximately $7,360,009.28. This represents a 11.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Prashant Nateri sold 10,171 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were 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. This represents a 10.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 34,627 shares of company stock valued at $646,157. Corporate insiders own 0.67% of the company’s stock.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $16.52 on Friday. Huntington Bancshares Incorporated has a 12 month low of $14.89 and a 12 month high of $19.45. The stock has a market cap of $33.49 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 0.75 and a beta of 0.94. The stock’s 50 day moving average price is $16.14 and its 200 day moving average price is $16.78. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.16 by $0.21. The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the company earned $0.34 earnings per share. Equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

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

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.