Prudential Financial Inc. Grows Stock Holdings in Huntington Bancshares Incorporated $HBAN

Prudential Financial Inc. lifted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 53.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,325,928 shares of the bank’s stock after acquiring an additional 463,737 shares during the quarter. Prudential Financial Inc. owned approximately 0.09% of Huntington Bancshares worth $22,222,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of HBAN. Accurate Wealth Management LLC increased its holdings in Huntington Bancshares by 3.5% during the 2nd quarter. Accurate Wealth Management LLC now owns 18,159 shares of the bank’s stock worth $319,000 after purchasing an additional 611 shares during the period. LifeWealth Investments LLC grew its position in shares of Huntington Bancshares by 2.3% during the 2nd quarter. LifeWealth Investments LLC now owns 28,501 shares of the bank’s stock worth $478,000 after buying an additional 632 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Huntington Bancshares by 0.4% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 164,551 shares of the bank’s stock valued at $2,758,000 after buying an additional 668 shares during the period. Foundations Investment Advisors LLC raised its holdings in shares of Huntington Bancshares by 2.4% in the first quarter. Foundations Investment Advisors LLC now owns 29,023 shares of the bank’s stock valued at $436,000 after acquiring an additional 691 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Huntington Bancshares by 2.6% in the second quarter. Farther Finance Advisors LLC now owns 29,032 shares of the bank’s stock worth $487,000 after acquiring an additional 731 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Up 1.7%

HBAN stock opened at $16.18 on Wednesday. The stock has a market capitalization of $23.61 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 0.66 and a beta of 1.01. Huntington Bancshares Incorporated has a 52 week low of $11.91 and a 52 week high of $18.33. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.89. The firm has a 50 day moving average of $16.18 and a 200 day moving average of $16.45.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Wednesday, June 11th. The bank reported $0.28 earnings per share (EPS) for the quarter. Huntington Bancshares had a net margin of 18.06% and a return on equity of 12.14%. The business had revenue of $469.00 million for the quarter. Sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Thursday, December 18th will be paid a $0.155 dividend. The ex-dividend date is Thursday, December 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.8%. Huntington Bancshares’s dividend payout ratio (DPR) is 43.36%.

Insiders Place Their Bets

In other news, Director John C. Inglis purchased 6,506 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were acquired at an average price of $15.30 per share, for a total transaction of $99,541.80. Following the purchase, the director owned 89,831 shares in the company, valued at $1,374,414.30. This trade represents a 7.81% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Helga Houston sold 64,587 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $15.38, for a total value of $993,348.06. Following the completion of the transaction, the insider owned 534,640 shares of the company’s stock, valued at approximately $8,222,763.20. The trade was a 10.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 112,103 shares of company stock valued at $1,833,558. 0.89% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

HBAN has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Huntington Bancshares from $18.00 to $18.50 and gave the company an “overweight” rating in a research report on Friday, October 10th. Weiss Ratings reissued a “buy (b-)” rating on shares of Huntington Bancshares in a report on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “market perform” rating in a research note on Monday, October 20th. Jefferies Financial Group cut their price target on Huntington Bancshares from $20.00 to $19.00 in a report on Monday, November 3rd. Finally, Stephens boosted their price target on Huntington Bancshares from $18.00 to $19.00 in a research report on Friday, October 17th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.64.

About Huntington Bancshares

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.