Munich Reinsurance Co Stock Corp in Munich Grows Position in Huntington Bancshares Incorporated $HBAN

Munich Reinsurance Co Stock Corp in Munich raised its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 18.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 4,992,023 shares of the bank’s stock after purchasing an additional 794,347 shares during the period. Huntington Bancshares accounts for 1.9% of Munich Reinsurance Co Stock Corp in Munich’s holdings, making the stock its 16th biggest position. Munich Reinsurance Co Stock Corp in Munich’s holdings in Huntington Bancshares were worth $78,125,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. CIBC Asset Management Inc increased its stake in shares of Huntington Bancshares by 24.5% in the fourth quarter. CIBC Asset Management Inc now owns 533,005 shares of the bank’s stock worth $9,248,000 after purchasing an additional 104,965 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its stake in shares of Huntington Bancshares by 688.9% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 86,478 shares of the bank’s stock valued at $1,500,000 after buying an additional 75,516 shares in the last quarter. KBC Group NV lifted its stake in shares of Huntington Bancshares by 16.3% during the 4th quarter. KBC Group NV now owns 2,820,816 shares of the bank’s stock valued at $48,941,000 after buying an additional 395,489 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in Huntington Bancshares by 25.4% in the 4th quarter. Hsbc Holdings PLC now owns 8,161,085 shares of the bank’s stock worth $141,625,000 after buying an additional 1,652,464 shares during the period. Finally, SageView Advisory Group LLC purchased a new stake in Huntington Bancshares in the 3rd quarter worth $2,163,000. Institutional investors own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

HBAN has been the topic of a number of recent analyst reports. Stephens initiated coverage on Huntington Bancshares in a report on Monday, June 15th. They set an “equal weight” rating and a $19.00 price target on the stock. Wolfe Research cut their target price on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Truist Financial decreased their target price on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. UBS Group boosted their price target on Huntington Bancshares from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Barclays downgraded Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.25.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, Director James D. Rollins III sold 223,522 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director owned 612,155 shares in the company, valued at $10,620,889.25. The trade was a 26.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Marcy C. Hingst sold 10,568 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $18.00, for a total value of $190,224.00. Following the completion of the sale, the executive vice president owned 267,859 shares in the company, valued at approximately $4,821,462. The trade was a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have acquired 33,500 shares of company stock valued at $617,542 in the last 90 days. Company insiders own 0.67% of the company’s stock.

Huntington Bancshares Trading Down 3.1%

HBAN stock opened at $17.46 on Thursday. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45. The stock has a market capitalization of $35.39 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 0.82 and a beta of 0.93. 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 firm’s fifty day simple moving average is $16.67 and its two-hundred day simple moving average is $16.90.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.21. The firm had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same quarter last year, the business earned $0.34 EPS. As a group, analysts anticipate that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th were paid a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.6%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 47.69%.

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.