Ensign Peak Advisors Inc trimmed its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 17.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 653,642 shares of the bank's stock after selling 137,739 shares during the quarter. Ensign Peak Advisors Inc's holdings in Huntington Bancshares were worth $10,635,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. National Bank of Canada FI boosted its stake in Huntington Bancshares by 220.9% in the fourth quarter. National Bank of Canada FI now owns 3,666,949 shares of the bank's stock valued at $59,661,000 after acquiring an additional 2,524,077 shares during the last quarter. Pictet Asset Management Holding SA raised its position in shares of Huntington Bancshares by 17.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 850,139 shares of the bank's stock valued at $13,832,000 after purchasing an additional 129,106 shares during the period. Mediolanum International Funds Ltd bought a new stake in shares of Huntington Bancshares in the fourth quarter valued at approximately $422,000. Donoghue Forlines LLC bought a new stake in shares of Huntington Bancshares in the fourth quarter valued at approximately $1,460,000. Finally, Czech National Bank raised its position in shares of Huntington Bancshares by 6.5% in the fourth quarter. Czech National Bank now owns 314,999 shares of the bank's stock valued at $5,125,000 after purchasing an additional 19,123 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Huntington Bancshares
In other news, insider Helga Houston sold 42,345 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $14.72, for a total value of $623,318.40. Following the completion of the sale, the insider now owns 592,119 shares of the company's stock, valued at approximately $8,715,991.68. This represents a 6.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Scott D. Kleinman sold 69,088 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the completion of the sale, the vice president now directly owns 453,129 shares of the company's stock, valued at $6,647,402.43. This trade represents a 13.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 312,456 shares of company stock valued at $4,464,105 in the last quarter. Insiders own 0.89% of the company's stock.
Wall Street Analysts Forecast Growth
HBAN has been the topic of several research reports. Royal Bank of Canada lowered their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Keefe, Bruyette & Woods lowered their price target on shares of Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. Argus set a $17.00 price target on shares of Huntington Bancshares in a research report on Friday, April 25th. Baird R W raised shares of Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 7th. Finally, Raymond James reissued a "strong-buy" rating and issued a $18.00 price target (down previously from $20.00) on shares of Huntington Bancshares in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $17.58.
Check Out Our Latest Stock Report on HBAN
Huntington Bancshares Price Performance
Shares of NASDAQ:HBAN traded up $0.08 during trading on Friday, reaching $16.18. The company had a trading volume of 15,202,319 shares, compared to its average volume of 17,771,652. The company has a fifty day moving average of $14.46 and a two-hundred day moving average of $15.97. The stock has a market capitalization of $23.63 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. Huntington Bancshares Incorporated has a 12 month low of $11.92 and a 12 month high of $18.45. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly 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 firm had revenue of $1.94 billion for the quarter, compared to analyst estimates 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 in the prior year, the firm earned $0.27 EPS. Equities research analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.
Huntington Bancshares announced that its Board of Directors has initiated a share buyback plan on Thursday, April 17th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the bank to reacquire up to 5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.
Huntington Bancshares Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend is Tuesday, June 17th. Huntington Bancshares's payout ratio is 47.33%.
About Huntington Bancshares
(
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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