Huntington Bancshares Incorporated $HBAN Shares Bought by Tredje AP fonden

Key Points

• Tredje AP fonden boosted its Huntington Bancshares stake by 117% in the fourth quarter, ending with 189,927 shares valued at about $3.3 million.
• Institutional ownership remains heavy, with about 80.72% of Huntington Bancshares held by hedge funds and institutions; several large investors also increased positions recently.
• The bank reported better-than-expected quarterly earnings of $0.37 per share on revenue of $2.59 billion and also declared a quarterly dividend of $0.155 per share, implying a 4.0% annual yield.

Tredje AP fonden grew its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 117.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 189,927 shares of the bank's stock after acquiring an additional 102,384 shares during the period. Tredje AP fonden's holdings in Huntington Bancshares were worth $3,295,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of HBAN. Vanguard Group Inc. grew its holdings in Huntington Bancshares by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank's stock valued at $3,319,385,000 after buying an additional 14,338,222 shares in the last quarter. Junto Capital Management LP acquired a new stake in Huntington Bancshares during the third quarter worth about $85,690,000. Victory Capital Management Inc. raised its stake in Huntington Bancshares by 15.7% during the third quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank's stock worth $594,054,000 after purchasing an additional 4,640,302 shares during the period. Munich Reinsurance Co Stock Corp in Munich purchased a new stake in shares of Huntington Bancshares in the 4th quarter valued at approximately $73,333,000. Finally, Squarepoint Ops LLC raised its position in Huntington Bancshares by 48.0% in the third quarter. Squarepoint Ops LLC now owns 9,676,829 shares of the bank's stock valued at $167,119,000 after purchasing an additional 3,138,669 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. The Goldman Sachs Group dropped their target price on Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating on the stock in a report on Monday, April 6th. National Bank Financial set a $21.00 price objective on shares of Huntington Bancshares in a research note on Wednesday, February 4th. Wall Street Zen upgraded shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. DA Davidson lowered 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, March 16th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Huntington Bancshares in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $20.05.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, Director Gary Torgow purchased 14,200 shares of the stock in a transaction dated Thursday, February 19th. The shares were bought at an average cost of $17.81 per share, with a total value of $252,902.00. Following the completion of the acquisition, the director owned 943,341 shares of the company's stock, valued at approximately $16,800,903.21. This trade represents a 1.53% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott D. Kleinman sold 65,530 shares of the company's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $15.28, for a total transaction of $1,001,298.40. Following the completion of the sale, the vice president directly owned 481,676 shares of the company's stock, valued at $7,360,009.28. The trade was a 11.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders acquired 39,200 shares of company stock valued at $756,724. 0.67% of the stock is currently owned by insiders.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $15.46 on Wednesday. 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 business's fifty day moving average price is $15.97 and its two-hundred day moving average price is $16.74. The stock has a market cap of $31.34 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 0.72 and a beta of 0.96. Huntington Bancshares Incorporated has a one year low of $14.89 and a one year high of $19.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating 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 prior year, the business earned $0.34 earnings per share. On average, analysts forecast that Huntington Bancshares Incorporated will post 1.62 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Wednesday, June 17th. Huntington Bancshares's payout ratio is 47.69%.

Huntington Bancshares 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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