Sumitomo Mitsui Trust Group Inc. Boosts Stock Position in Huntington Bancshares Incorporated $HBAN

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 19.1% in the first quarter, HoldingsChannel reports. The fund owned 5,087,371 shares of the bank’s stock after acquiring an additional 814,324 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Huntington Bancshares were worth $79,617,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. lifted its holdings in Huntington Bancshares by 33.7% during the first quarter. Resona Asset Management Co. Ltd. now owns 635,301 shares of the bank’s stock valued at $9,867,000 after purchasing an additional 160,145 shares in the last quarter. Beam Wealth Advisors Inc. bought a new stake in shares of Huntington Bancshares during the 1st quarter valued at $3,240,000. Munich Reinsurance Co Stock Corp in Munich lifted its stake in shares of Huntington Bancshares by 18.9% during the 1st quarter. Munich Reinsurance Co Stock Corp in Munich now owns 4,992,023 shares of the bank’s stock valued at $78,125,000 after buying an additional 794,347 shares in the last quarter. Greenwood Capital Associates LLC boosted its holdings in Huntington Bancshares by 6.6% in the 1st quarter. Greenwood Capital Associates LLC now owns 407,441 shares of the bank’s stock worth $6,376,000 after buying an additional 25,265 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in Huntington Bancshares by 29.2% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 232,524 shares of the bank’s stock worth $3,639,000 after buying an additional 52,500 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN traded up $0.11 during mid-day trading on Friday, hitting $17.87. 14,157,471 shares of the company’s stock traded hands, compared to its average volume of 19,734,146. The company has a market capitalization of $36.22 billion, a P/E ratio of 13.75, a PEG ratio of 0.81 and a beta of 0.93. Huntington Bancshares Incorporated has a 1 year low of $14.89 and a 1 year 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’s 50-day moving average is $16.73 and its two-hundred day moving average is $16.91.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. The business had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same period in the prior year, the business posted $0.34 earnings per share. On average, equities analysts anticipate 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. Shareholders of record on Wednesday, June 17th were paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Wednesday, June 17th. Huntington Bancshares’s payout ratio is presently 47.69%.

Insider Transactions at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 10,568 shares of the company’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 transaction, the executive vice president 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the stock in a transaction that occurred 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 completion of the sale, the director owned 612,155 shares in the company, valued at approximately $10,620,889.25. The trade was a 26.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 33,500 shares of company stock valued at $617,542. 0.67% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on HBAN shares. DA Davidson lowered their price objective on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. Weiss Ratings upgraded Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, July 6th. The Goldman Sachs Group reduced their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Wall Street Zen upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Royal Bank Of Canada raised their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.25.

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.