Mackenzie Financial Corp Lowers Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Mackenzie Financial Corp lessened its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 120,030 shares of the bank’s stock after selling 5,179 shares during the period. Mackenzie Financial Corp’s holdings in Huntington Bancshares were worth $1,527,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Huntington Bancshares by 0.7% during the third quarter. Vanguard Group Inc. now owns 172,069,244 shares of the bank’s stock valued at $1,789,520,000 after acquiring an additional 1,209,264 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Huntington Bancshares by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 45,744,281 shares of the bank’s stock worth $468,725,000 after purchasing an additional 245,025 shares in the last quarter. Boston Partners lifted its stake in shares of Huntington Bancshares by 33.0% during the third quarter. Boston Partners now owns 29,277,030 shares of the bank’s stock worth $304,439,000 after purchasing an additional 7,271,405 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Huntington Bancshares by 23.7% during the third quarter. Victory Capital Management Inc. now owns 17,925,067 shares of the bank’s stock worth $186,421,000 after purchasing an additional 3,438,552 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Huntington Bancshares by 5.5% during the third quarter. Northern Trust Corp now owns 14,273,987 shares of the bank’s stock worth $148,449,000 after purchasing an additional 744,443 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Activity

In other news, Director Ann B. Crane sold 58,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $13.54, for a total transaction of $785,320.00. Following the completion of the transaction, the director now directly owns 192,247 shares of the company’s stock, valued at $2,603,024.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Ann B. Crane sold 58,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $13.54, for a total transaction of $785,320.00. Following the completion of the transaction, the director now directly owns 192,247 shares of the company’s stock, valued at $2,603,024.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Helga Houston sold 28,700 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $13.17, for a total value of $377,979.00. Following the transaction, the insider now directly owns 568,222 shares of the company’s stock, valued at $7,483,483.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,241 shares of company stock valued at $1,360,359. 0.92% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HBAN. JPMorgan Chase & Co. boosted their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Jefferies Financial Group upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. DA Davidson upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $15.50 in a research note on Tuesday, February 27th. Morgan Stanley reiterated an “overweight” rating and issued a $16.00 price target on shares of Huntington Bancshares in a research note on Monday. Finally, Stephens reiterated an “equal weight” rating and issued a $15.00 price target on shares of Huntington Bancshares in a research note on Monday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and an average price target of $15.17.

Huntington Bancshares Stock Up 0.7 %

Shares of Huntington Bancshares stock opened at $13.63 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88. The firm has a market cap of $19.76 billion, a P/E ratio of 12.28, a P/E/G ratio of 2.47 and a beta of 1.11. Huntington Bancshares Incorporated has a fifty-two week low of $9.13 and a fifty-two week high of $14.07. The business has a 50-day moving average price of $13.31 and a 200 day moving average price of $12.21.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same period in the previous year, the company earned $0.38 earnings per share. On average, sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.55%. The ex-dividend date is Monday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

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.