Rhumbline Advisers Increases Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Rhumbline Advisers raised its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 8.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,126,637 shares of the bank's stock after buying an additional 245,134 shares during the period. Rhumbline Advisers owned 0.21% of Huntington Bancshares worth $46,931,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HBAN. Chicago Partners Investment Group LLC increased its stake in Huntington Bancshares by 43.2% in the 4th quarter. Chicago Partners Investment Group LLC now owns 16,629 shares of the bank's stock valued at $273,000 after buying an additional 5,020 shares during the last quarter. Golden State Equity Partners increased its stake in shares of Huntington Bancshares by 1,280.1% during the 4th 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 stake in shares of Huntington Bancshares during the 4th quarter worth approximately $171,000. Mather Group LLC. increased its stake in shares of Huntington Bancshares by 14.5% during the 4th 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 increased its stake in shares of Huntington Bancshares by 17.3% during the 4th 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.

Insider Buying and Selling

In related news, VP Brendan A. Lawlor sold 3,521 shares of Huntington Bancshares stock in a transaction on Monday, March 24th. The shares were sold at an average price of $15.25, for a total value of $53,695.25. Following the sale, the vice president now owns 47,950 shares in the company, valued at $731,237.50. The trade was a 6.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kendall A. Kowalski sold 25,419 shares of Huntington Bancshares stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $13.68, for a total transaction of $347,731.92. Following the completion of the sale, the insider now owns 70,281 shares in the company, valued at approximately $961,444.08. This trade represents a 26.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 312,456 shares of company stock worth $4,464,105 in the last 90 days. 0.89% of the stock is owned by company insiders.

Huntington Bancshares Trading Up 3.0%

NASDAQ:HBAN traded up $0.48 during trading hours on Friday, reaching $16.22. The company's stock had a trading volume of 30,775,984 shares, compared to its average volume of 18,447,743. The firm has a market capitalization of $23.69 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.33 and a beta of 0.92. The firm has a 50-day simple moving average of $14.69 and a 200-day simple moving average of $15.84. Huntington Bancshares Incorporated has a 1 year low of $11.92 and a 1 year high of $18.45. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its earnings results on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. The company had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.89 billion. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter last year, the company earned $0.27 EPS. Research analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares declared that its Board of Directors has initiated a stock repurchase plan on Thursday, April 17th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend is Tuesday, June 17th. Huntington Bancshares's payout ratio is presently 47.33%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on HBAN shares. Deutsche Bank Aktiengesellschaft upgraded shares of Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 price target for the company in a research note on Thursday, April 24th. Royal Bank of Canada cut their price objective on shares of Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Jefferies Financial Group initiated coverage on shares of Huntington Bancshares in a report on Wednesday, May 21st. They issued a "buy" rating and a $20.00 price objective for the company. JPMorgan Chase & Co. cut their price objective on shares of Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Finally, TD Cowen initiated coverage on shares of Huntington Bancshares in a report on Thursday, May 15th. They issued a "buy" rating and a $20.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $17.83.

Huntington Bancshares Profile

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.