Resona Asset Management Co. Ltd. Has $9.87 Million Position in Huntington Bancshares Incorporated $HBAN

Resona Asset Management Co. Ltd. lifted its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 33.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 635,301 shares of the bank’s stock after acquiring an additional 160,145 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Huntington Bancshares were worth $9,867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. MV Capital Management Inc. acquired a new position in Huntington Bancshares during the fourth quarter valued at approximately $25,000. Palisade Asset Management LLC acquired a new stake in shares of Huntington Bancshares in the 3rd quarter valued at $26,000. South Plains Financial Inc. boosted its holdings in shares of Huntington Bancshares by 116.3% in the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after purchasing an additional 826 shares in the last quarter. Centennial Bank AR bought a new position in shares of Huntington Bancshares in the 4th quarter valued at $28,000. Finally, DV Equities LLC bought a new position in shares of Huntington Bancshares in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on HBAN shares. UBS Group upped their price objective on Huntington Bancshares from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday. Barclays downgraded Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. Weiss Ratings raised shares of Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. The Goldman Sachs Group reduced their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Finally, Wolfe Research decreased their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.25.

Huntington Bancshares Price Performance

HBAN stock traded up $0.11 during midday trading on Friday, reaching $17.87. 14,157,471 shares of the stock were exchanged, compared to its average volume of 19,734,146. The stock has a market capitalization of $36.22 billion, a PE ratio of 13.75, a P/E/G ratio of 0.81 and a beta of 0.93. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. The company has a fifty day moving average price of $16.73 and a 200 day moving average price of $16.91.

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

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders 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 dividend yield of 3.5%. Huntington Bancshares’s dividend payout ratio is currently 47.69%.

Insider Buying and Selling

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

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.