Huntington Bancshares Incorporated $HBAN Shares Purchased by Asset Management One Co. Ltd.

Key Points

• Asset Management One increased its Huntington Bancshares stake by 8.8% in the third quarter, purchasing 78,438 shares for a total holding of 971,276 shares valued at approximately $14.8 million. Institutional investors collectively own 80.72% of HBAN.
• Huntington reported quarterly EPS of $0.38, matching analyst estimates, while revenue of $2.79 billion came in slightly below expectations. The bank declared a $0.155 quarterly dividend, representing a 3.9% annualized yield.
• HBAN shares opened at $15.78, below the analyst consensus price target of $18.98; analysts’ overall rating remains “Moderate Buy,” despite several recent price-target reductions.

Asset Management One Co. Ltd. raised its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 8.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 971,276 shares of the bank's stock after buying an additional 78,438 shares during the period. Asset Management One Co. Ltd.'s holdings in Huntington Bancshares were worth $14,822,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Henrickson Nauta Wealth Advisors Inc. increased its stake in shares of Huntington Bancshares by 6.1% in the 2nd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 10,613 shares of the bank's stock worth $190,000 after purchasing an additional 608 shares in the last quarter. Vestor Capital LLC raised its stake in shares of Huntington Bancshares by 13.0% in the first quarter. Vestor Capital LLC now owns 5,636 shares of the bank's stock worth $88,000 after buying an additional 648 shares during the period. Rehmann Capital Advisory Group lifted its position in shares of Huntington Bancshares by 5.9% during the 2nd quarter. Rehmann Capital Advisory Group now owns 12,151 shares of the bank's stock valued at $215,000 after buying an additional 679 shares in the last quarter. Johnson Financial Group Inc. lifted its position in shares of Huntington Bancshares by 48.8% during the 1st quarter. Johnson Financial Group Inc. now owns 2,157 shares of the bank's stock valued at $34,000 after buying an additional 707 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Huntington Bancshares by 10.1% during the 3rd quarter. Versant Capital Management Inc now owns 7,693 shares of the bank's stock valued at $117,000 after acquiring an additional 708 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Stock Down 1.2%

Shares of NASDAQ:HBAN opened at $15.78 on Friday. Huntington Bancshares Incorporated has a 1 year low of $14.82 and a 1 year high of $19.45. The business has a 50 day simple moving average of $15.96 and a two-hundred day simple moving average of $16.70. The firm has a market capitalization of $31.88 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.91 and a quick ratio of 0.91.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The bank reported $0.38 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.38. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. Huntington Bancshares had a return on equity of 10.93% and a net margin of 16.28%. During the same period last year, the company earned $0.41 EPS. On average, equities analysts predict that Huntington Bancshares Incorporated will post 1.54 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Friday, December 18th will be paid a $0.1550 dividend. This represents a $0.62 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, December 18th. Huntington Bancshares's dividend payout ratio (DPR) is currently 51.24%.

Analyst Upgrades and Downgrades

HBAN has been the topic of a number of recent analyst reports. UBS Group set a $18.00 target price on shares of Huntington Bancshares in a research note on Tuesday, October 6th. TD Cowen began coverage on shares of Huntington Bancshares in a report on Thursday, October 8th. They issued a "buy" rating and a $18.00 target price for the company. Citigroup cut their price target on Huntington Bancshares from $21.00 to $19.00 and set a "buy" rating for the company in a research note on Monday. Keefe, Bruyette & Woods cut their price target on Huntington Bancshares from $19.50 to $18.00 and set a "market perform" rating for the company in a research note on Tuesday, October 6th. Finally, Evercore decreased their price target on Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $18.98.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, insider Kendall A. Kowalski sold 27,971 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $17.20, for a total value of $481,101.20. Following the transaction, the insider directly owned 70,025 shares in the company, valued at $1,204,430. This represents a 28.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary Torgow purchased 12,700 shares of the stock in a transaction that occurred on Tuesday, October 27th. The stock was purchased at an average price of $15.73 per share, with a total value of $199,771.00. Following the acquisition, the director directly owned 956,041 shares of the company's stock, valued at $15,038,524.93. This trade represents a 1.35% increase in their position. The SEC filing for this purchase provides additional information. 0.67% of the stock is currently owned by company insiders.

Huntington Bancshares Profile

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.

The company's offerings include checking and savings accounts, consumer and residential lending, credit cards, auto finance, mortgages, commercial loans, treasury management, investment and wealth management services, insurance, and other financial solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.