M&T Bank Corp Acquires 6,578 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

M&T Bank Corp increased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 12.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,799 shares of the bank’s stock after buying an additional 6,578 shares during the quarter. M&T Bank Corp’s holdings in Huntington Bancshares were worth $879,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of HBAN. State Street Corp increased its position in Huntington Bancshares by 10.3% during the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after purchasing an additional 7,439,909 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Huntington Bancshares by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock valued at $921,778,000 after purchasing an additional 1,522,767 shares in the last quarter. FMR LLC grew its position in Huntington Bancshares by 16.8% during the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock worth $348,672,000 after buying an additional 3,410,597 shares during the period. Victory Capital Management Inc. raised its stake in Huntington Bancshares by 13.2% in the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after purchasing an additional 2,363,988 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Huntington Bancshares by 3.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,810,239 shares of the bank’s stock worth $208,346,000 after acquiring an additional 561,565 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Trading Up 0.5 %

Shares of HBAN opened at $17.26 on Tuesday. The stock has a 50 day simple moving average of $16.70 and a 200-day simple moving average of $14.89. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. The stock has a market cap of $25.08 billion, a PE ratio of 16.60, a PEG ratio of 3.47 and a beta of 1.06. Huntington Bancshares Incorporated has a 1 year low of $12.02 and a 1 year high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. On average, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio is currently 59.62%.

Insider Activity

In other news, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the sale, the vice president now owns 496,076 shares in the company, valued at $8,765,662.92. The trade was a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Helga Houston sold 6,455 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the transaction, the insider now owns 558,342 shares in the company, valued at approximately $8,615,217.06. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,699 shares of company stock worth $757,356. 0.89% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Sandler O’Neill restated a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $20.00 price target (up previously from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. Citigroup boosted their target price on shares of Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Keefe, Bruyette & Woods upped their price target on shares of Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, DA Davidson upped their price target on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $17.41.

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.