Hunter Associates Investment Management LLC boosted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 48.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,840 shares of the bank's stock after acquiring an additional 19,602 shares during the quarter. Hunter Associates Investment Management LLC's holdings in Huntington Bancshares were worth $898,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Invesco Ltd. lifted its position in Huntington Bancshares by 4.6% during the 4th quarter. Invesco Ltd. now owns 52,599,986 shares of the bank's stock worth $855,802,000 after acquiring an additional 2,310,502 shares during the period. FMR LLC lifted its holdings in Huntington Bancshares by 36.9% during the fourth quarter. FMR LLC now owns 32,479,039 shares of the bank's stock valued at $528,434,000 after purchasing an additional 8,759,871 shares in the last quarter. Norges Bank acquired a new stake in Huntington Bancshares in the 4th quarter worth about $302,826,000. Northern Trust Corp raised its stake in Huntington Bancshares by 18.4% in the 4th quarter. Northern Trust Corp now owns 14,422,723 shares of the bank's stock valued at $234,658,000 after purchasing an additional 2,241,926 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Huntington Bancshares by 9.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,679,600 shares of the bank's stock valued at $222,567,000 after buying an additional 1,188,542 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have recently issued reports on HBAN shares. Morgan Stanley cut their price target on shares of Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Raymond James Financial reissued a "strong-buy" rating and issued a $21.00 price target (up previously from $18.00) on shares of Huntington Bancshares in a research report on Tuesday. Argus set a $17.00 target price on shares of Huntington Bancshares in a report on Friday, April 25th. Stephens reissued an "equal weight" rating and set a $16.50 target price on shares of Huntington Bancshares in a research report on Monday, April 21st. Finally, Wall Street Zen raised Huntington Bancshares from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Huntington Bancshares presently has an average rating of "Moderate Buy" and a consensus target price of $18.48.
Get Our Latest Analysis on HBAN
Huntington Bancshares Trading Down 1.0%
Shares of Huntington Bancshares stock traded down $0.17 during trading hours on Friday, reaching $17.39. 19,466,724 shares of the company's stock were exchanged, compared to its average volume of 18,972,114. The firm has a market capitalization of $25.40 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 1.34 and a beta of 0.93. The company has a fifty day moving average of $16.06 and a 200-day moving average of $15.71. Huntington Bancshares Incorporated has a 52-week low of $11.92 and a 52-week high of $18.45. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.98.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.03. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.89 billion. Huntington Bancshares had a net margin of 16.94% and a return on equity of 11.44%. During the same quarter last year, the business earned $0.27 EPS. Sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.
Huntington Bancshares Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th were given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend was Tuesday, June 17th. Huntington Bancshares's dividend payout ratio (DPR) is presently 47.33%.
Huntington Bancshares declared that its board has approved a share repurchase program on Thursday, April 17th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the bank to repurchase up to 5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's management believes its stock is undervalued.
Insider Transactions at Huntington Bancshares
In other Huntington Bancshares news, VP Brantley J. Standridge sold 70,417 shares of the business's stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $13.69, for a total transaction of $964,008.73. Following the completion of the sale, the vice president directly owned 326,456 shares in the company, valued at $4,469,182.64. The trade was a 17.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Helga Houston sold 42,345 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $14.72, for a total transaction of $623,318.40. Following the completion of the transaction, the insider directly owned 592,119 shares in the company, valued at approximately $8,715,991.68. This represents a 6.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 214,375 shares of company stock valued at $3,049,277 in the last three months. 0.89% of the stock is owned by company insiders.
Huntington Bancshares Profile
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Free Report)
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.
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