Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Purchased by Korea Investment CORP

Korea Investment CORP raised its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 167.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 683,524 shares of the bank’s stock after purchasing an additional 427,768 shares during the quarter. Korea Investment CORP’s holdings in Huntington Bancshares were worth $11,121,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its holdings in Huntington Bancshares by 10.3% in the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock valued at $1,179,319,000 after acquiring an additional 7,439,909 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Huntington Bancshares by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank’s stock valued at $1,056,353,000 after purchasing an additional 2,218,020 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Huntington Bancshares by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock worth $540,422,000 after purchasing an additional 473,893 shares during the period. FMR LLC increased its position in Huntington Bancshares by 16.8% during the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock worth $348,672,000 after purchasing an additional 3,410,597 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Huntington Bancshares by 7.4% in the fourth quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank’s stock valued at $355,094,000 after buying an additional 1,506,606 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $14.79 on Monday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares Incorporated has a 1 year low of $12.05 and a 1 year high of $18.45. The firm’s 50-day simple moving average is $16.07 and its 200-day simple moving average is $16.16. The firm has a market cap of $21.60 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the previous year, the company earned $0.27 EPS. Equities analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is presently 50.41%.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Brendan A. Lawlor sold 3,521 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $15.25, for a total transaction of $53,695.25. Following the completion of the transaction, the vice president now directly owns 47,950 shares of the company’s stock, valued at approximately $731,237.50. This represents a 6.84 % 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 the SEC website. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total value of $552,925.38. Following the sale, the chief financial officer now owns 335,538 shares in the company, valued at $4,825,036.44. The trade was a 10.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,781 shares of company stock worth $1,631,151 over the last 90 days. Insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

HBAN has been the subject of several recent research reports. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $20.00 price target (up from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Citigroup reduced their price objective on Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Robert W. Baird upgraded 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. Finally, Baird R W raised Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.18.

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.