Mirae Asset Global Investments Co. Ltd. Makes New $7.78 Million Investment in Huntington Bancshares Incorporated $HBAN

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 509,969 shares of the bank’s stock, valued at approximately $7,782,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of HBAN. TD Waterhouse Canada Inc. lifted its stake in Huntington Bancshares by 90.7% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,682 shares of the bank’s stock worth $26,000 after purchasing an additional 800 shares in the last quarter. Trust Co. of Vermont bought a new position in shares of Huntington Bancshares during the 2nd quarter valued at about $29,000. Johnson Financial Group Inc. purchased a new position in shares of Huntington Bancshares during the second quarter valued at about $31,000. Livelsberger Financial Advisory purchased a new position in shares of Huntington Bancshares during the third quarter valued at about $31,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Huntington Bancshares by 80.7% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,226 shares of the bank’s stock worth $35,000 after purchasing an additional 994 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Stock Up 1.3%

NASDAQ HBAN opened at $16.06 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average of $15.90 and a two-hundred day moving average of $16.68. The firm has a market capitalization of $32.45 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.02 and a beta of 0.97. Huntington Bancshares Incorporated has a 52 week low of $14.82 and a 52 week high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, October 22nd. The bank reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. Huntington Bancshares had a net margin of 16.28% and a return on equity of 10.93%. During the same quarter in the prior year, the firm posted $0.41 earnings per share. On average, analysts predict that Huntington Bancshares Incorporated will post 1.54 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Friday, December 18th will be issued a dividend of $0.1550 per share. This represents a $0.62 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, December 18th. Huntington Bancshares’s dividend payout ratio is presently 51.24%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, SVP Donnell R. White sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $15.87, for a total value of $47,610.00. Following the completion of the sale, the senior vice president owned 23,697 shares of the company’s stock, valued at $376,071.39. This trade represents a 11.24% 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 hyperlink. Also, Director James D. Rollins III bought 14,000 shares of the company’s stock in a transaction on Monday, October 26th. The shares were acquired at an average price of $18.12 per share, with a total value of $253,680.00. Following the transaction, the director directly owned 15,500 shares of the company’s stock, valued at approximately $280,860. This trade represents a 933.33% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.67% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. TD Cowen assumed coverage on Huntington Bancshares in a research report on Thursday, October 8th. They issued a “buy” rating and a $18.00 target price on the stock. Robert W. Baird cut their price target on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, October 23rd. Keefe, Bruyette & Woods cut their price target on Huntington Bancshares from $19.50 to $18.00 and set a “market perform” rating for the company in a report on Tuesday, October 6th. Weiss Ratings downgraded Huntington Bancshares from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, October 27th. Finally, JPMorgan Chase & Co. upped their price objective on Huntington Bancshares from $17.50 to $18.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.98.

About Huntington Bancshares

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and residential lending, credit cards, auto finance, mortgages, commercial loans, treasury management, investment and wealth management services, insurance, and other financial solutions.