Dimensional Fund Advisors LP Has $367.39 Million Stake in Huntington Bancshares Incorporated $HBAN

Key Points

• Dimensional Fund Advisors LP increased its stake in Huntington Bancshares by 27.2% in the first quarter, ending with 23.48 million shares valued at about $367.4 million.
• Huntington Bancshares reported stronger-than-expected quarterly results, with EPS of $0.37 versus the $0.16 consensus and revenue of $2.59 billion, slightly ahead of estimates.
• The company pays a quarterly dividend of $0.155 per share, equal to an annualized yield of about 3.4%, while analysts currently rate the stock a Moderate Buy with an average price target of $20.25.

Dimensional Fund Advisors LP boosted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 27.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,480,601 shares of the bank's stock after acquiring an additional 5,026,894 shares during the quarter. Dimensional Fund Advisors LP owned 1.16% of Huntington Bancshares worth $367,388,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in HBAN. Balefire LLC purchased a new position in shares of Huntington Bancshares in the 1st quarter worth approximately $3,492,000. Parallel Advisors LLC boosted its position in Huntington Bancshares by 26.0% during the first quarter. Parallel Advisors LLC now owns 12,064 shares of the bank's stock worth $189,000 after purchasing an additional 2,493 shares during the period. Eaton Cambridge Inc. purchased a new position in Huntington Bancshares in the 1st quarter valued at approximately $160,000. SEB Asset Management AB purchased a new position in shares of Huntington Bancshares in the first quarter valued at $6,252,000. Finally, Spartan Wealth Advisory Services LLC purchased a new position in Huntington Bancshares during the 1st quarter valued at about $626,000. 80.72% of the stock is owned by institutional investors.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $18.17 on Wednesday. Huntington Bancshares Incorporated has a fifty-two week low of $14.89 and a fifty-two week high of $19.45. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. The company has a market capitalization of $36.83 billion, a price-to-earnings ratio of 13.98, a P/E/G ratio of 0.81 and a beta of 0.93. The company has a 50 day simple moving average of $16.99 and a two-hundred day simple moving average of $16.93.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.16 by $0.21. The business had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same period in the previous year, the company posted $0.34 earnings per share. Analysts expect that Huntington Bancshares Incorporated will post 1.62 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th were issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Wednesday, June 17th. Huntington Bancshares's payout ratio is presently 47.69%.

Insider Buying and Selling at Huntington Bancshares

In other news, Director James D. Rollins III sold 223,522 shares of the company's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the transaction, the director directly owned 612,155 shares of the company's stock, valued at $10,620,889.25. This represents a 26.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Marcy C. Hingst sold 10,568 shares of the company's stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $190,224.00. Following the transaction, the executive vice president owned 267,859 shares in the company, valued at $4,821,462. This represents a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders bought 33,500 shares of company stock valued at $617,542 in the last 90 days. Company insiders own 0.67% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on HBAN. JPMorgan Chase & Co. boosted their price target on shares of Huntington Bancshares from $18.50 to $19.50 and gave the company an "overweight" rating in a research report on Monday, July 6th. Jefferies Financial Group cut shares of Huntington Bancshares from a "buy" rating to a "hold" rating and reduced their price target for the company from $21.00 to $19.00 in a research report on Monday, July 6th. Stephens initiated coverage on Huntington Bancshares in a research note on Monday, June 15th. They set an "equal weight" rating and a $19.00 price objective on the stock. Wall Street Zen raised shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, The Goldman Sachs Group reduced their price target on Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating on the stock in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $20.25.

About Huntington Bancshares

Huntington Bancshares Incorporated NASDAQ: HBAN is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company's operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington's product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.

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