Huntington Bancshares Incorporated $HBAN Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System increased its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 26.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 560,950 shares of the bank’s stock after acquiring an additional 118,700 shares during the period. State of Michigan Retirement System’s holdings in Huntington Bancshares were worth $8,779,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HBAN. MV Capital Management Inc. acquired a new stake in shares of Huntington Bancshares in the fourth quarter valued at approximately $25,000. Palisade Asset Management LLC acquired a new stake in Huntington Bancshares in the 3rd quarter valued at approximately $26,000. Centennial Bank AR bought a new stake in Huntington Bancshares during the 4th quarter valued at $28,000. DV Equities LLC bought a new stake in Huntington Bancshares during the 4th quarter valued at $38,000. Finally, Quest 10 Wealth Builders Inc. boosted its position in Huntington Bancshares by 403.1% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 2,611 shares of the bank’s stock worth $45,000 after acquiring an additional 2,092 shares during the period. 80.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HBAN has been the subject of several recent analyst reports. UBS Group increased their price target on Huntington Bancshares from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Stephens started coverage on shares of Huntington Bancshares in a report on Monday, June 15th. They issued an “equal weight” rating and a $19.00 price objective for the company. Wall Street Zen upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Jefferies Financial Group cut shares of Huntington Bancshares from a “buy” rating to a “hold” rating and lowered their target price for the company from $21.00 to $19.00 in a research note on Monday, July 6th. Finally, Weiss Ratings raised shares of Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average price target of $20.25.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $18.12 on Thursday. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average of $16.81 and a 200-day moving average of $16.91. The firm has a market cap of $36.73 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 0.80 and a beta of 0.93.

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

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th were given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio is 47.69%.

Insiders Place Their Bets

In other news, Director James D. Rollins III sold 223,522 shares of the business’s stock in a transaction 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 sale, the director directly owned 612,155 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Marcy C. Hingst sold 10,568 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the sale, the executive vice president directly owned 267,859 shares of the company’s stock, valued at approximately $4,821,462. This represents 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. Insiders have bought a total of 33,500 shares of company stock valued at $617,542 in the last quarter. Insiders own 0.67% of the company’s stock.

Huntington Bancshares 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.