University of Texas Texas AM Investment Management Co. Acquires Shares of 58,043 Huntington Bancshares Incorporated $HBAN

University of Texas Texas AM Investment Management Co. purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 58,043 shares of the bank’s stock, valued at approximately $1,007,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Huntington Bancshares by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock worth $3,319,385,000 after buying an additional 14,338,222 shares during the period. State Street Corp grew its stake in shares of Huntington Bancshares by 4.7% in the fourth quarter. State Street Corp now owns 77,228,656 shares of the bank’s stock valued at $1,351,806,000 after acquiring an additional 3,438,501 shares in the last quarter. Boston Partners raised its stake in Huntington Bancshares by 3.9% in the 3rd quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock worth $1,091,615,000 after purchasing an additional 2,363,905 shares in the last quarter. Invesco Ltd. boosted its holdings in Huntington Bancshares by 1.5% in the 3rd quarter. Invesco Ltd. now owns 59,062,922 shares of the bank’s stock valued at $1,020,017,000 after purchasing an additional 861,263 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Huntington Bancshares by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 43,171,993 shares of the bank’s stock worth $746,257,000 after purchasing an additional 3,074,673 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $17.21 on Tuesday. The firm has a market capitalization of $34.89 billion, a P/E ratio of 13.24, a P/E/G ratio of 0.80 and a beta of 0.94. The firm’s 50-day moving average price is $16.32 and its 200-day moving average price is $16.85. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. Huntington Bancshares Incorporated has a 1-year low of $14.89 and a 1-year high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last issued 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 company 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 business posted $0.34 EPS. 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be paid a $0.155 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.6%. Huntington Bancshares’s dividend payout ratio is presently 47.69%.

Insider Activity

In other news, Director James D. Rollins III purchased 4,798 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were purchased at an average price of $20.30 per share, with a total value of $97,399.40. Following the transaction, the director directly owned 10,000 shares of the company’s stock, valued at approximately $203,000. This represents a 92.23% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have purchased 33,500 shares of company stock worth $617,542. Company insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Evercore reiterated an “outperform” rating and issued a $20.00 price target on shares of Huntington Bancshares in a research note on Friday. Jefferies Financial Group increased their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. DA Davidson reduced 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. Barclays cut Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Finally, Royal Bank Of Canada decreased their target price on Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.05.

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.