Grantham Mayo Van Otterloo & Co. LLC Has $3.22 Million Stock Holdings in Huntington Bancshares Incorporated $HBAN

Key Points

• Grantham Mayo Van Otterloo & Co. LLC cut its stake in Huntington Bancshares by 33.0%, selling 91,980 shares and leaving it with 186,658 shares valued at about $3.22 million.
• Huntington reported quarterly $0.37 EPS (missing estimates) and revenue of $1.61 billion vs. a consensus of $2.21 billion; analysts have a consensus rating of "Moderate Buy" with a target of $20.78.
• The bank announced a quarterly dividend of $0.155 (annualized $0.62) for a 3.9% yield, and institutional investors own roughly 80.72% of the stock.

Grantham Mayo Van Otterloo & Co. LLC reduced its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 33.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 186,658 shares of the bank's stock after selling 91,980 shares during the period. Grantham Mayo Van Otterloo & Co. LLC's holdings in Huntington Bancshares were worth $3,224,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Parcion Private Wealth LLC boosted its position in Huntington Bancshares by 6.2% during the 3rd quarter. Parcion Private Wealth LLC now owns 11,081 shares of the bank's stock worth $191,000 after buying an additional 648 shares during the period. Strategic Planning Inc. increased its position in Huntington Bancshares by 0.3% in the 3rd quarter. Strategic Planning Inc. now owns 199,318 shares of the bank's stock valued at $3,442,000 after acquiring an additional 670 shares during the period. Benjamin Edwards Inc. increased its position in Huntington Bancshares by 1.0% in the 3rd quarter. Benjamin Edwards Inc. now owns 73,147 shares of the bank's stock valued at $1,263,000 after acquiring an additional 758 shares during the period. Wedmont Private Capital raised its stake in shares of Huntington Bancshares by 3.1% during the third quarter. Wedmont Private Capital now owns 27,294 shares of the bank's stock valued at $457,000 after acquiring an additional 808 shares during the last quarter. Finally, Chris Bulman Inc raised its stake in shares of Huntington Bancshares by 7.8% during the third quarter. Chris Bulman Inc now owns 11,698 shares of the bank's stock valued at $202,000 after acquiring an additional 847 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company's stock.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $15.99 on Wednesday. The company has a market capitalization of $32.46 billion, a PE ratio of 11.50, a P/E/G ratio of 0.65 and a beta of 0.95. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80. Huntington Bancshares Incorporated has a twelve month low of $11.91 and a twelve month high of $19.45. The firm has a fifty day simple moving average of $17.64 and a 200 day simple moving average of $17.07.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same period last year, the company posted $0.34 EPS. On average, sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th will be given a dividend of $0.155 per share. The ex-dividend date is Wednesday, March 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.9%. Huntington Bancshares's dividend payout ratio is presently 44.60%.

Insider Activity at Huntington Bancshares

In related news, VP Brantley J. Standridge sold 5,830 shares of the firm's stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $19.14, for a total transaction of $111,586.20. Following the completion of the sale, the vice president owned 327,676 shares of the company's stock, valued at $6,271,718.64. This trade represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James D. Rollins III bought 1,127 shares of the stock in a transaction on Monday, March 9th. The stock was acquired at an average price of $25.39 per share, with a total value of $28,614.53. Following the completion of the acquisition, the director owned 4,000 shares of the company's stock, valued at $101,560. This represents a 39.23% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 27,700 shares of company stock worth $540,401 and have sold 50,145 shares worth $929,885. 0.89% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Barclays boosted their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Monday, January 5th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $21.00 target price on shares of Huntington Bancshares in a report on Monday, January 12th. Jefferies Financial Group reduced their price target on Huntington Bancshares from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Thursday, March 5th. Argus increased their price target on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, January 28th. Finally, Morgan Stanley raised their price objective on Huntington Bancshares from $21.00 to $23.00 and gave the stock an "overweight" rating in a research report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Huntington Bancshares has a consensus rating of "Moderate Buy" and a consensus price target of $20.78.

Huntington Bancshares Company Profile

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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