Nissay Asset Management Corp Japan ADV Has $2.88 Million Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Nissay Asset Management Corp Japan ADV boosted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.6% in the 4th quarter, HoldingsChannel reports. The firm owned 175,578 shares of the bank’s stock after acquiring an additional 1,093 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Huntington Bancshares were worth $2,876,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Creative Capital Management Investments LLC lifted its stake in Huntington Bancshares by 17,533.3% in the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,578 shares during the last quarter. Y.D. More Investments Ltd lifted its position in Huntington Bancshares by 126.8% during the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock worth $30,000 after acquiring an additional 1,023 shares during the last quarter. Midwest Capital Advisors LLC acquired a new stake in Huntington Bancshares during the fourth quarter worth approximately $37,000. Transce3nd LLC acquired a new stake in Huntington Bancshares during the fourth quarter worth approximately $48,000. Finally, Asset Dedication LLC lifted its position in Huntington Bancshares by 70.0% during the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock worth $50,000 after acquiring an additional 1,260 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on HBAN shares. Argus set a $17.00 price objective on shares of Huntington Bancshares in a research report on Friday, April 25th. Morgan Stanley cut their price objective on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Raymond James restated a “strong-buy” rating and set a $18.00 price objective (down from $20.00) on shares of Huntington Bancshares in a research report on Monday, April 21st. Truist Financial lowered their target price on shares of Huntington Bancshares from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, Stephens reaffirmed an “equal weight” rating and set a $16.50 target price on shares of Huntington Bancshares in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average price target of $17.58.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Helga Houston sold 42,345 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $14.72, for a total transaction of $623,318.40. Following the sale, the insider now owns 592,119 shares of the company’s stock, valued at approximately $8,715,991.68. The trade was a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Brantley J. Standridge sold 70,417 shares of the business’s stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $13.69, for a total transaction of $964,008.73. Following the sale, the vice president now directly owns 326,456 shares in the company, valued at approximately $4,469,182.64. The trade was a 17.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 312,456 shares of company stock valued at $4,464,105. 0.89% of the stock is currently owned by insiders.

Huntington Bancshares Stock Performance

Shares of NASDAQ:HBAN opened at $16.18 on Friday. The company’s 50 day simple moving average is $14.46 and its 200 day simple moving average is $15.97. The stock has a market capitalization of $23.63 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a 1 year low of $11.92 and a 1 year high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period last year, the firm posted $0.27 earnings per share. As a group, research analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be paid a dividend of $0.155 per share. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.83%. Huntington Bancshares’s payout ratio is presently 47.33%.

Huntington Bancshares announced that its board has authorized a share repurchase program on Thursday, April 17th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the bank to buy up to 5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

About Huntington Bancshares

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.