IFM Investors Pty Ltd Raises Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

IFM Investors Pty Ltd lifted its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 11.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 305,394 shares of the bank's stock after purchasing an additional 30,176 shares during the quarter. IFM Investors Pty Ltd's holdings in Huntington Bancshares were worth $4,489,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. increased its holdings in shares of Huntington Bancshares by 13.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 16,860 shares of the bank's stock valued at $274,000 after acquiring an additional 1,977 shares in the last quarter. Fisher Asset Management LLC bought a new stake in Huntington Bancshares during the fourth quarter valued at approximately $189,000. Jones Financial Companies Lllp grew its position in shares of Huntington Bancshares by 82.0% during the 4th quarter. Jones Financial Companies Lllp now owns 36,359 shares of the bank's stock valued at $592,000 after acquiring an additional 16,387 shares during the period. Steward Partners Investment Advisory LLC increased its position in Huntington Bancshares by 5.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 67,575 shares of the bank's stock worth $1,099,000 after buying an additional 3,706 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in Huntington Bancshares by 20.6% during the fourth quarter. Assetmark Inc. now owns 154,829 shares of the bank's stock valued at $2,519,000 after purchasing an additional 26,433 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN traded down $0.06 during midday trading on Tuesday, hitting $17.48. The company's stock had a trading volume of 25,220,914 shares, compared to its average volume of 19,122,081. Huntington Bancshares Incorporated has a 12-month low of $11.92 and a 12-month high of $18.45. The company has a market cap of $25.53 billion, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 1.34 and a beta of 0.93. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.89 and a current ratio of 0.90. The business's 50 day simple moving average is $15.88 and its 200 day simple moving average is $15.67.

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 for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.94% and a return on equity of 11.44%. The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the prior year, the company posted $0.27 EPS. On average, analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 17th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the bank to purchase up to 5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th were issued a $0.155 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.55%. Huntington Bancshares's payout ratio is 47.33%.

Insiders Place Their Bets

In related news, CFO Zachary Jacob Wasserman sold 59,060 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $14.36, for a total transaction of $848,101.60. Following the completion of the sale, the chief financial officer owned 277,348 shares in the company, valued at $3,982,717.28. The trade was a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marcy C. Hingst sold 13,700 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $15.79, for a total transaction of $216,323.00. Following the sale, the executive vice president directly owned 337,879 shares in the company, valued at approximately $5,335,109.41. The trade was a 3.90% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 214,375 shares of company stock worth $3,049,277. 0.89% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods decreased their price target on Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. Raymond James Financial reiterated a "strong-buy" rating and set a $21.00 target price (up previously from $18.00) on shares of Huntington Bancshares in a research report on Tuesday. TD Cowen started coverage on Huntington Bancshares in a research note on Thursday, May 15th. They set a "buy" rating and a $20.00 target price on the stock. Cowen assumed coverage on Huntington Bancshares in a research note on Wednesday, May 14th. They issued a "buy" rating for the company. Finally, 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Huntington Bancshares has an average rating of "Moderate Buy" and a consensus price target of $18.48.

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.