Beach Investment Management LLC. bought a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 57,900 shares of the bank’s stock, valued at approximately $864,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in HBAN. Conning Inc. boosted its position in shares of Huntington Bancshares by 6,415.4% in the third quarter. Conning Inc. now owns 2,265,666 shares of the bank’s stock worth $33,804,000 after acquiring an additional 2,230,892 shares during the last quarter. Stelliam Investment Management LP acquired a new stake in shares of Huntington Bancshares in the second quarter worth approximately $32,620,000. Janus Henderson Group PLC boosted its position in shares of Huntington Bancshares by 437.2% in the second quarter. Janus Henderson Group PLC now owns 2,572,833 shares of the bank’s stock worth $37,976,000 after acquiring an additional 2,093,922 shares during the last quarter. LSV Asset Management boosted its position in shares of Huntington Bancshares by 45,997.9% in the second quarter. LSV Asset Management now owns 1,705,623 shares of the bank’s stock worth $25,174,000 after acquiring an additional 1,701,923 shares during the last quarter. Finally, Zacks Investment Management acquired a new stake in shares of Huntington Bancshares in the second quarter worth approximately $25,096,000. 73.99% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on HBAN shares. Zacks Investment Research raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Tuesday, September 25th. Jefferies Financial Group raised their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, August 8th. ValuEngine cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Monday, October 22nd. Morgan Stanley reissued a “hold” rating and issued a $17.50 target price (down from $17.75) on shares of Huntington Bancshares in a research report on Tuesday, September 18th. Finally, Vining Sparks reissued a “buy” rating and issued a $19.00 target price on shares of Huntington Bancshares in a research report on Tuesday, October 9th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $17.13.
In other news, CEO Stephen D. Steinour acquired 17,493 shares of the company’s stock in a transaction dated Thursday, October 25th. The shares were bought at an average price of $13.48 per share, for a total transaction of $235,805.64. Following the completion of the purchase, the chief executive officer now directly owns 4,768,399 shares of the company’s stock, valued at approximately $64,278,018.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard W. Neu acquired 6,750 shares of the company’s stock in a transaction dated Tuesday, October 30th. The shares were purchased at an average price of $13.88 per share, for a total transaction of $93,690.00. The disclosure for this purchase can be found here. Company insiders own 1.05% of the company’s stock.
NASDAQ HBAN opened at $14.37 on Tuesday. Huntington Bancshares Incorporated has a one year low of $13.04 and a one year high of $16.60. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.89 and a current ratio of 0.90. The company has a market capitalization of $15.17 billion, a P/E ratio of 14.66, a price-to-earnings-growth ratio of 0.80 and a beta of 1.26.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.01. Huntington Bancshares had a net margin of 29.13% and a return on equity of 13.73%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the firm posted $0.25 earnings per share. Huntington Bancshares’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities research analysts predict that Huntington Bancshares Incorporated will post 1.22 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Tuesday, December 18th will be issued a $0.14 dividend. The ex-dividend date is Monday, December 17th. This represents a $0.56 annualized dividend and a yield of 3.90%. Huntington Bancshares’s payout ratio is 57.14%.
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Huntington Bancshares Company Profile
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company's Consumer and Business Banking segment offers financial products and services, such as checking accounts, savings accounts, money market accounts, certificates of deposit, consumer loans, and small business loans; and investments, mortgages, insurance, interest rate risk protection, and foreign exchange and treasury management services.
Further Reading: Bear Market
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