Meiji Yasuda Asset Management Co Ltd. Purchases 9,758 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Meiji Yasuda Asset Management Co Ltd. grew its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 217,540 shares of the bank’s stock after acquiring an additional 9,758 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Huntington Bancshares were worth $3,539,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of HBAN. Creative Capital Management Investments LLC raised its position in Huntington Bancshares by 17,533.3% in the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,578 shares during the last quarter. Y.D. More Investments Ltd increased its stake in shares of Huntington Bancshares by 126.8% in the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock valued at $30,000 after buying an additional 1,023 shares in the last quarter. Midwest Capital Advisors LLC bought a new position in shares of Huntington Bancshares in the fourth quarter valued at about $37,000. Asset Dedication LLC raised its holdings in shares of Huntington Bancshares by 70.0% in the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock valued at $50,000 after buying an additional 1,260 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its position in Huntington Bancshares by 27.2% during the 4th quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock worth $53,000 after buying an additional 702 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on HBAN shares. Citigroup dropped their target price on shares of Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Monday. Robert W. Baird raised Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 target price for the company in a research note on Friday, March 7th. Baird R W raised Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. Piper Sandler lowered their price objective on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research report on Tuesday, January 21st. Finally, Truist Financial upped their target price on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.18.

Huntington Bancshares Price Performance

Shares of HBAN stock opened at $15.32 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. Huntington Bancshares Incorporated has a 12-month low of $12.05 and a 12-month high of $18.45. The firm has a fifty day moving average of $16.18 and a 200-day moving average of $16.14. The firm has a market capitalization of $22.38 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same period in the previous year, the business earned $0.27 earnings per share. On average, equities research analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s payout ratio is currently 50.41%.

Insider Activity

In related news, VP Scott D. Kleinman sold 69,088 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $14.67, for a total value of $1,013,520.96. Following the sale, the vice president now directly owns 453,129 shares of the company’s stock, valued at approximately $6,647,402.43. The trade was a 13.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.38, for a total value of $552,925.38. Following the transaction, the chief financial officer now owns 335,538 shares of the company’s stock, valued at approximately $4,825,036.44. This trade represents a 10.28 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.