Manning & Napier Advisors LLC reduced its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 5.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 518,495 shares of the bank's stock after selling 31,678 shares during the period. Manning & Napier Advisors LLC's holdings in Huntington Bancshares were worth $7,783,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Midwest Capital Advisors LLC bought a new stake in shares of Huntington Bancshares during the fourth quarter worth $37,000. Transce3nd LLC bought a new position in shares of Huntington Bancshares in the fourth quarter worth about $48,000. Curat Global LLC purchased a new position in Huntington Bancshares in the 1st quarter worth about $52,000. Venturi Wealth Management LLC lifted its holdings in Huntington Bancshares by 27.2% during the 4th quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank's stock valued at $53,000 after buying an additional 702 shares in the last quarter. Finally, Loomis Sayles & Co. L P purchased a new stake in Huntington Bancshares in the 4th quarter valued at about $70,000. Hedge funds and other institutional investors own 80.72% of the company's stock.
Analysts Set New Price Targets
Several research firms have recently weighed in on HBAN. Citigroup decreased their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Deutsche Bank Aktiengesellschaft upgraded Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 price objective for the company in a report on Thursday, April 24th. TD Cowen started coverage on shares of Huntington Bancshares in a report on Thursday, May 15th. They set a "buy" rating and a $20.00 target price on the stock. Jefferies Financial Group started coverage on shares of Huntington Bancshares in a research report on Wednesday, May 21st. They set a "buy" rating and a $20.00 target price on the stock. Finally, Morgan Stanley cut their price objective on shares of Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $18.08.
View Our Latest Analysis on HBAN
Insiders Place Their Bets
In other news, EVP Marcy C. Hingst sold 13,700 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $15.79, for a total value of $216,323.00. Following the sale, the executive vice president now owns 337,879 shares in the company, valued at $5,335,109.41. This represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Helga Houston sold 42,345 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $14.72, for a total transaction of $623,318.40. Following the transaction, the insider now owns 592,119 shares of the company's stock, valued at $8,715,991.68. This represents a 6.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 214,375 shares of company stock valued at $3,049,277. 0.89% of the stock is owned by insiders.
Huntington Bancshares Stock Performance
Shares of HBAN traded up $0.36 during trading hours on Thursday, reaching $16.64. 32,823,134 shares of the company traded hands, compared to its average volume of 18,717,935. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.98. The business has a fifty day moving average price of $15.45 and a 200-day moving average price of $15.67. Huntington Bancshares Incorporated has a 12-month low of $11.92 and a 12-month high of $18.45. The stock has a market capitalization of $24.31 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.25 and a beta of 0.92.
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. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. Huntington Bancshares had a return on equity of 11.44% and a net margin of 16.94%. During the same quarter in the previous year, the business earned $0.27 EPS. Equities analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.
Huntington Bancshares Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.73%. Huntington Bancshares's dividend payout ratio (DPR) is presently 47.33%.
Huntington Bancshares announced that its Board of Directors has approved a share repurchase program on Thursday, April 17th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the bank to buy up to 5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.
Huntington Bancshares Company Profile
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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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