Rhumbline Advisers boosted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 8.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,126,637 shares of the bank's stock after buying an additional 245,134 shares during the quarter. Rhumbline Advisers owned approximately 0.21% of Huntington Bancshares worth $46,931,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Chicago Partners Investment Group LLC grew its holdings in shares of Huntington Bancshares by 43.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 16,629 shares of the bank's stock worth $273,000 after purchasing an additional 5,020 shares during the last quarter. Golden State Equity Partners grew its holdings in shares of Huntington Bancshares by 1,280.1% during the fourth quarter. Golden State Equity Partners now owns 22,924 shares of the bank's stock worth $373,000 after purchasing an additional 21,263 shares during the last quarter. Longboard Asset Management LP purchased a new position in shares of Huntington Bancshares during the fourth quarter worth about $171,000. Mather Group LLC. grew its holdings in shares of Huntington Bancshares by 14.5% during the fourth quarter. Mather Group LLC. now owns 13,697 shares of the bank's stock worth $223,000 after purchasing an additional 1,739 shares during the last quarter. Finally, E. Ohman J or Asset Management AB grew its holdings in shares of Huntington Bancshares by 17.3% during the fourth quarter. E. Ohman J or Asset Management AB now owns 64,400 shares of the bank's stock worth $1,048,000 after purchasing an additional 9,500 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company's stock.
Huntington Bancshares Stock Performance
NASDAQ:HBAN remained flat at $15.74 during mid-day trading on Thursday. 26,114,408 shares of the company were exchanged, compared to its average volume of 18,291,586. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The stock has a market cap of $22.99 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 1.33 and a beta of 0.92. Huntington Bancshares Incorporated has a 1 year low of $11.92 and a 1 year high of $18.45. The firm's fifty day moving average price is $14.65 and its 200 day moving average price is $15.87.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the firm earned $0.27 EPS. As a group, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.
Huntington Bancshares Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Tuesday, June 17th. Huntington Bancshares's dividend payout ratio (DPR) is presently 47.33%.
Huntington Bancshares declared that its board has authorized a share repurchase plan on Thursday, April 17th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the bank to reacquire up to 5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.
Analyst Ratings Changes
Several equities analysts have issued reports on HBAN shares. JPMorgan Chase & Co. dropped their price objective on Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Argus set a $17.00 price objective on Huntington Bancshares in a report on Friday, April 25th. Raymond James reiterated a "strong-buy" rating and set a $18.00 target price (down previously from $20.00) on shares of Huntington Bancshares in a research note on Monday, April 21st. Truist Financial decreased their target price on shares of Huntington Bancshares from $21.00 to $17.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Jefferies Financial Group initiated coverage on shares of Huntington Bancshares in a research note on Wednesday, May 21st. They set a "buy" rating and a $20.00 target price for the company. One 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $17.83.
View Our Latest Stock Analysis on Huntington Bancshares
Insider Transactions at Huntington Bancshares
In other Huntington Bancshares news, insider Helga Houston sold 42,345 shares of Huntington Bancshares stock in a transaction dated 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 now owns 592,119 shares in the company, valued at approximately $8,715,991.68. The trade was a 6.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brantley J. Standridge sold 70,417 shares of the company'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 value of $964,008.73. Following the completion of the sale, the vice president now directly owns 326,456 shares in the company, valued at approximately $4,469,182.64. The trade was a 17.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 312,456 shares of company stock valued at $4,464,105 in the last 90 days. 0.89% of the stock is currently owned by insiders.
Huntington Bancshares Profile
(
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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