Nomura Asset Management Co. Ltd. Increases Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Nomura Asset Management Co. Ltd. grew its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 7.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 445,637 shares of the bank’s stock after acquiring an additional 30,830 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Huntington Bancshares were worth $6,551,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in HBAN. QRG Capital Management Inc. lifted its stake in Huntington Bancshares by 4.9% during the second quarter. QRG Capital Management Inc. now owns 18,580 shares of the bank’s stock worth $245,000 after purchasing an additional 868 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Huntington Bancshares by 26.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,649 shares of the bank’s stock valued at $1,761,000 after acquiring an additional 28,174 shares during the period. ORG Partners LLC grew its position in Huntington Bancshares by 354.9% in the 2nd quarter. ORG Partners LLC now owns 3,325 shares of the bank’s stock valued at $44,000 after acquiring an additional 2,594 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Huntington Bancshares by 2.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 230,854 shares of the bank’s stock valued at $3,043,000 after acquiring an additional 5,261 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Huntington Bancshares by 1.5% during the second quarter. Assenagon Asset Management S.A. now owns 54,287 shares of the bank’s stock worth $716,000 after purchasing an additional 814 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the transaction, the chief financial officer now owns 259,943 shares in the company, valued at $4,582,795.09. The trade was a 3.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the sale, the insider now directly owns 558,342 shares of the company’s stock, valued at approximately $8,615,217.06. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,699 shares of company stock worth $757,356 in the last 90 days. 0.89% of the stock is owned by insiders.

Huntington Bancshares Price Performance

Shares of HBAN opened at $17.17 on Friday. The firm has a fifty day moving average price of $16.60 and a 200 day moving average price of $14.82. The stock has a market cap of $24.94 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 3.51 and a beta of 1.06. Huntington Bancshares Incorporated has a 1-year low of $11.77 and a 1-year high of $18.44. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same period in the prior year, the firm earned $0.36 EPS. As a group, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.61%. Huntington Bancshares’s payout ratio is 59.62%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. restated an “overweight” rating and issued a $20.00 price objective (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Barclays raised their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Citigroup increased their price objective on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Sandler O’Neill restated a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.41.

Huntington Bancshares 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.