Huntington Bancshares Incorporated $HBAN Shares Purchased by International Assets Investment Management LLC

Key Points

• International Assets Investment Management LLC boosted its Huntington Bancshares stake by 991.7% in the first quarter, buying 61,397 additional shares and bringing its total to 67,588 shares worth about $1.07 million.
• Several other large institutional investors also made sizable moves in HBAN, and institutions and hedge funds now own 80.72% of the company’s stock.
• Huntington Bancshares reported strong quarterly results, with EPS of $0.37 topping estimates and revenue of $2.59 billion, while also paying a quarterly dividend of $0.155 per share for a 3.5% annualized yield.

International Assets Investment Management LLC boosted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 991.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 67,588 shares of the bank's stock after buying an additional 61,397 shares during the period. International Assets Investment Management LLC's holdings in Huntington Bancshares were worth $1,073,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of HBAN. Wellington Management Group LLP boosted its stake in Huntington Bancshares by 4,265.5% during the fourth quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank's stock worth $1,215,955,000 after buying an additional 68,478,435 shares during the period. Norges Bank purchased a new stake in shares of Huntington Bancshares in the 4th quarter valued at approximately $432,584,000. Vanguard Group Inc. lifted its holdings in shares of Huntington Bancshares by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank's stock worth $3,319,385,000 after acquiring an additional 14,338,222 shares during the last quarter. Junto Capital Management LP acquired a new position in shares of Huntington Bancshares in the 3rd quarter worth approximately $85,690,000. Finally, Marshall Wace LLP boosted its position in shares of Huntington Bancshares by 2,458.7% during the 4th quarter. Marshall Wace LLP now owns 4,516,068 shares of the bank's stock worth $78,354,000 after purchasing an additional 4,339,571 shares during the period. Institutional investors and hedge funds own 80.72% of the company's stock.

Insider Buying and Selling

In other Huntington Bancshares news, Director James D. Rollins III sold 223,522 shares of the business's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the transaction, the director owned 612,155 shares in the company, valued at $10,620,889.25. The trade was a 26.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Marcy C. Hingst sold 10,568 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the sale, the executive vice president directly owned 267,859 shares in the company, valued at approximately $4,821,462. This represents a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders purchased 33,500 shares of company stock valued at $617,542 in the last quarter. 0.67% of the stock is owned by insiders.

Huntington Bancshares Trading Up 0.3%

HBAN opened at $17.93 on Tuesday. The business has a fifty day moving average price of $16.75 and a 200 day moving average price of $16.90. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. Huntington Bancshares Incorporated has a 12 month low of $14.89 and a 12 month high of $19.45. The stock has a market capitalization of $36.35 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 0.81 and a beta of 0.93.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced 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. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The business had revenue of $2.59 billion during the quarter, compared to analysts' expectations of $2.57 billion. During the same quarter last year, the business posted $0.34 EPS. Sell-side analysts expect that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th were paid a $0.155 dividend. The ex-dividend date was Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.5%. Huntington Bancshares's payout ratio is currently 47.69%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Barclays downgraded shares of Huntington Bancshares from a "hold" rating to a "strong sell" rating in a report on Monday, April 20th. The Goldman Sachs Group lowered their price target on Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating for the company in a research report on Monday, April 6th. Wall Street Zen raised Huntington Bancshares from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. UBS Group boosted their price objective on Huntington Bancshares from $21.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Finally, Jefferies Financial Group cut Huntington Bancshares from a "buy" rating to a "hold" rating and lowered their target price for the company from $21.00 to $19.00 in a report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Huntington Bancshares currently has a consensus rating of "Moderate Buy" and an average target price 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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