Bank of New York Mellon Corp Grows Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Bank of New York Mellon Corp increased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) by 3.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,313,013 shares of the bank’s stock after buying an additional 495,031 shares during the period. Bank of New York Mellon Corp’s holdings in Huntington Bancshares were worth $188,647,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in HBAN. Financial Advocates Investment Management lifted its holdings in Huntington Bancshares by 2.1% in the 3rd quarter. Financial Advocates Investment Management now owns 33,300 shares of the bank’s stock valued at $439,000 after purchasing an additional 678 shares in the last quarter. Assetmark Inc. lifted its holdings in Huntington Bancshares by 4.4% in the 3rd quarter. Assetmark Inc. now owns 16,156 shares of the bank’s stock valued at $213,000 after purchasing an additional 680 shares in the last quarter. Lake Street Advisors Group LLC lifted its holdings in Huntington Bancshares by 6.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 11,479 shares of the bank’s stock valued at $151,000 after purchasing an additional 729 shares in the last quarter. Lincoln National Corp lifted its holdings in Huntington Bancshares by 4.2% in the 3rd quarter. Lincoln National Corp now owns 18,938 shares of the bank’s stock valued at $249,000 after purchasing an additional 770 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in Huntington Bancshares by 8.6% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 9,865 shares of the bank’s stock valued at $119,000 after purchasing an additional 784 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Down 5.7 %

HBAN opened at $10.34 on Friday. The firm has a 50 day moving average price of $14.60 and a 200 day moving average price of $14.35. The company has a market cap of $14.99 billion, a PE ratio of 7.13, a price-to-earnings-growth ratio of 5.55 and a beta of 1.11. Huntington Bancshares Incorporated has a 1 year low of $9.94 and a 1 year high of $15.74. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 0.84.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Monday, March 20th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date is Friday, March 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 42.76%.

Insider Buying and Selling

In other Huntington Bancshares news, Director David L. Porteous sold 80,000 shares of the stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $15.01, for a total value of $1,200,800.00. Following the completion of the sale, the director now owns 62,845 shares of the company’s stock, valued at $943,303.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

HBAN has been the topic of a number of recent research reports. Piper Sandler reduced their target price on shares of Huntington Bancshares from $15.00 to $14.50 in a report on Friday, March 10th. JPMorgan Chase & Co. lowered shares of Huntington Bancshares from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $15.50 to $14.50 in a report on Tuesday, December 13th. DA Davidson started coverage on shares of Huntington Bancshares in a report on Tuesday, December 20th. They set a “neutral” rating and a $15.00 price objective on the stock. They noted that the move was a valuation call. Morgan Stanley cut their price objective on shares of Huntington Bancshares from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, January 23rd. Finally, StockNews.com started coverage on shares of Huntington Bancshares in a report on Thursday. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $15.47.

About Huntington Bancshares

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Huntington Bancshares, Inc operates as a bank holding company. It provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, other financial products and services.