New York State Teachers Retirement System Purchases 555,527 Shares of Huntington Bancshares Incorporated $HBAN

New York State Teachers Retirement System boosted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 45.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,784,227 shares of the bank’s stock after buying an additional 555,527 shares during the period. New York State Teachers Retirement System’s holdings in Huntington Bancshares were worth $27,923,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted 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 acquiring an additional 14,338,222 shares during the period. State Street Corp increased its stake in 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 during the period. Wellington Management Group LLP increased its stake in Huntington Bancshares by 4,265.5% in the fourth quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock valued at $1,215,955,000 after acquiring an additional 68,478,435 shares during the period. Boston Partners raised its position in Huntington Bancshares by 3.9% in the third 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. Finally, Invesco Ltd. raised its position in Huntington Bancshares by 6.6% in the fourth quarter. Invesco Ltd. now owns 62,971,849 shares of the bank’s stock worth $1,092,562,000 after purchasing an additional 3,908,927 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Insider Buying and Selling

In other Huntington Bancshares 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 value of $3,878,106.70. Following the transaction, the director owned 612,155 shares of the company’s stock, valued at approximately $10,620,889.25. The trade was a 26.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Marcy C. Hingst sold 10,568 shares of the stock in a transaction 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 sale, the executive vice president owned 267,859 shares in the company, valued at $4,821,462. The trade was a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have purchased 33,500 shares of company stock worth $617,542. 0.67% of the stock is owned by corporate insiders.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $17.86 on Friday. The company has a market capitalization of $36.20 billion, a P/E ratio of 13.74, a P/E/G ratio of 0.81 and a beta of 0.93. Huntington Bancshares Incorporated has a 12-month low of $14.89 and a 12-month high of $19.45. 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 has a 50-day moving average price of $16.60 and a 200 day moving average price of $16.90.

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

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th were given a dividend of $0.155 per share. The ex-dividend date was Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.5%. Huntington Bancshares’s dividend payout ratio is 47.69%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HBAN. Weiss Ratings downgraded Huntington Bancshares from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 18th. Piper Sandler raised Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 target price for the company in a report on Thursday, April 23rd. Morgan Stanley raised their target price on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday. Wall Street Zen raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Wolfe Research lowered their price target on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.15.

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.