Nomura Asset Management Co. Ltd. Boosts Stake in Huntington Bancshares Incorporated $HBAN

Nomura Asset Management Co. Ltd. lifted its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 10.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 554,208 shares of the bank’s stock after acquiring an additional 51,189 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Huntington Bancshares were worth $9,616,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Palisade Asset Management LLC purchased a new stake in shares of Huntington Bancshares during the 3rd quarter worth about $26,000. South Plains Financial Inc. boosted its stake in shares of Huntington Bancshares by 116.3% during the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after acquiring an additional 826 shares in the last quarter. Accredited Wealth Management LLC boosted its stake in shares of Huntington Bancshares by 374.5% during the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock worth $29,000 after acquiring an additional 1,322 shares in the last quarter. AlphaCore Capital LLC purchased a new stake in shares of Huntington Bancshares during the 3rd quarter worth about $33,000. Finally, Quest 10 Wealth Builders Inc. boosted its stake in shares of Huntington Bancshares by 403.1% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 2,611 shares of the bank’s stock worth $45,000 after acquiring an additional 2,092 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HBAN has been the topic of several recent analyst reports. Morgan Stanley lowered their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. Royal Bank Of Canada decreased their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. The Goldman Sachs Group decreased their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Evercore decreased their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, April 6th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.05.

Huntington Bancshares Stock Up 2.5%

HBAN stock opened at $16.23 on Wednesday. The company has a market cap of $32.90 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 0.73 and a beta of 0.94. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. Huntington Bancshares Incorporated has a 12 month low of $14.89 and a 12 month high of $19.45. The firm has a 50-day moving average of $16.06 and a two-hundred day moving average of $16.77.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. The company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same quarter in the prior year, the firm earned $0.34 EPS. As a group, analysts forecast that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.8%. Huntington Bancshares’s dividend payout ratio is presently 47.69%.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, VP Scott D. Kleinman sold 65,530 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $15.28, for a total value of $1,001,298.40. Following the completion of the sale, the vice president owned 481,676 shares in the company, valued at approximately $7,360,009.28. This represents a 11.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James D. Rollins III acquired 3,029 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was acquired at an average price of $21.05 per share, with a total value of $63,760.45. Following the acquisition, the director owned 9,500 shares in the company, valued at $199,975. The trade was a 46.81% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 12,712 shares of company stock worth $246,438. Insiders own 0.67% of the company’s stock.

Huntington Bancshares 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.