Sigma Planning Corp Has $1.16 Million Stake in Huntington Bancshares Incorporated $HBAN

Key Points

• Sigma Planning Corp boosted its Huntington Bancshares stake by 330.8% in the first quarter, ending with 73,653 shares valued at about $1.16 million.
• Huntington Bancshares reported better-than-expected quarterly earnings, posting $0.37 per share versus estimates of $0.16, while revenue came in slightly above forecasts at $2.59 billion.
• The bank continues to pay a quarterly dividend of $0.155 per share, implying a 3.4% annualized yield, while analysts currently rate the stock a Moderate Buy with an average price target of $20.25.

Sigma Planning Corp lifted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 330.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,653 shares of the bank's stock after buying an additional 56,556 shares during the period. Sigma Planning Corp's holdings in Huntington Bancshares were worth $1,161,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc grew its stake in Huntington Bancshares by 24.5% during the fourth quarter. CIBC Asset Management Inc now owns 533,005 shares of the bank's stock worth $9,248,000 after buying an additional 104,965 shares in the last quarter. Creative Financial Designs Inc. ADV increased its holdings in Huntington Bancshares by 688.9% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 86,478 shares of the bank's stock valued at $1,500,000 after buying an additional 75,516 shares during the period. KBC Group NV raised its position in shares of Huntington Bancshares by 16.3% in the 4th quarter. KBC Group NV now owns 2,820,816 shares of the bank's stock valued at $48,941,000 after buying an additional 395,489 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Huntington Bancshares by 25.4% in the 4th quarter. Hsbc Holdings PLC now owns 8,161,085 shares of the bank's stock valued at $141,625,000 after buying an additional 1,652,464 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Huntington Bancshares by 991.7% during the 1st quarter. International Assets Investment Management LLC now owns 67,588 shares of the bank's stock worth $1,073,000 after acquiring an additional 61,397 shares during the period. Institutional investors own 80.72% of the company's stock.

Huntington Bancshares Stock Down 1.7%

Shares of HBAN opened at $18.25 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45. The stock has a market capitalization of $37.00 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 0.82 and a beta of 0.93. The stock has a fifty day moving average of $16.90 and a 200-day moving average of $16.92.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the previous year, the company posted $0.34 EPS. As a group, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Wednesday, June 17th. Huntington Bancshares's payout ratio is 47.69%.

Insider Activity

In other news, Director James D. Rollins III sold 223,522 shares of the company's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $17.35, for a total value of $3,878,106.70. Following the completion of the transaction, the director owned 612,155 shares of the company's stock, valued at $10,620,889.25. This represents a 26.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Marcy C. Hingst sold 10,568 shares of the firm's 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 transaction, the executive vice president owned 267,859 shares of the company's stock, valued at approximately $4,821,462. This trade represents a 3.80% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have bought 33,500 shares of company stock worth $617,542. Company insiders own 0.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on HBAN shares. UBS Group lifted their price objective on shares of Huntington Bancshares from $21.00 to $22.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Morgan Stanley upped their target price on Huntington Bancshares from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Monday, June 29th. The Goldman Sachs Group reduced their target price on Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating on the stock in a report on Monday, April 6th. Barclays lowered Huntington Bancshares from a "hold" rating to a "strong sell" rating in a research note on Monday, April 20th. Finally, Stephens initiated coverage on Huntington Bancshares in a research report on Monday, June 15th. They set an "equal weight" rating and a $19.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $20.25.

Huntington Bancshares Profile

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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