Public Sector Pension Investment Board reduced its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) by 31.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 138,471 shares of the bank’s stock after selling 63,808 shares during the quarter. Public Sector Pension Investment Board’s holdings in Huntington Bancshares were worth $1,666,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the business. Brown Brothers Harriman & Co. increased its holdings in Huntington Bancshares by 8.6% in the second quarter. Brown Brothers Harriman & Co. now owns 9,865 shares of the bank’s stock worth $119,000 after purchasing an additional 784 shares in the last quarter. Wrapmanager Inc. increased its holdings in shares of Huntington Bancshares by 2.6% during the first quarter. Wrapmanager Inc. now owns 31,433 shares of the bank’s stock valued at $460,000 after acquiring an additional 793 shares in the last quarter. Gilbert & Cook Inc. increased its holdings in shares of Huntington Bancshares by 4.9% during the second quarter. Gilbert & Cook Inc. now owns 17,291 shares of the bank’s stock valued at $208,000 after acquiring an additional 815 shares in the last quarter. Guardian Wealth Management Inc. increased its holdings in shares of Huntington Bancshares by 3.5% during the first quarter. Guardian Wealth Management Inc. now owns 24,852 shares of the bank’s stock valued at $363,000 after acquiring an additional 835 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Huntington Bancshares by 7.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 13,013 shares of the bank’s stock valued at $156,000 after acquiring an additional 876 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the company. Raymond James boosted their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the company a “strong-buy” rating in a report on Monday, October 24th. Morgan Stanley boosted their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Friday, November 11th. Deutsche Bank Aktiengesellschaft cut their target price on Huntington Bancshares from $16.50 to $15.50 and set a “hold” rating on the stock in a research report on Monday, September 12th. The Goldman Sachs Group lifted their target price on Huntington Bancshares to $17.50 in a research report on Wednesday, November 16th. Finally, Stephens cut Huntington Bancshares from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $15.00 to $16.00 in a research report on Monday, October 24th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Huntington Bancshares presently has a consensus rating of “Hold” and a consensus target price of $15.88.
Huntington Bancshares Stock Up 0.7 %
HBAN stock opened at $15.59 on Friday. The stock’s fifty day simple moving average is $14.42 and its two-hundred day simple moving average is $13.63. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.68. Huntington Bancshares Incorporated has a 1-year low of $11.67 and a 1-year high of $17.79. The stock has a market cap of $22.49 billion, a P/E ratio of 12.09 and a beta of 1.13.
Huntington Bancshares (NASDAQ:HBAN – Get Rating) last issued its quarterly earnings results on Friday, October 21st. The bank reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Huntington Bancshares had a return on equity of 13.76% and a net margin of 27.34%. During the same quarter in the previous year, the firm posted $0.35 EPS. Analysts expect that Huntington Bancshares Incorporated will post 1.47 EPS for the current year.
Huntington Bancshares Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Monday, December 19th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Friday, December 16th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.98%. Huntington Bancshares’s dividend payout ratio is presently 48.06%.
Insider Activity
In other news, Director Gary Torgow purchased 16,835 shares of the company’s stock in a transaction dated Tuesday, October 25th. The shares were purchased at an average price of $14.75 per share, with a total value of $248,316.25. Following the transaction, the director now directly owns 910,136 shares of the company’s stock, valued at $13,424,506. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Michael Scott Jones sold 50,000 shares of the business’s stock in a transaction on Tuesday, November 29th. The stock was sold at an average price of $15.25, for a total transaction of $762,500.00. Following the sale, the vice president now directly owns 52,647 shares in the company, valued at approximately $802,866.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gary Torgow acquired 16,835 shares of the firm’s stock in a transaction that occurred on Tuesday, October 25th. The shares were bought at an average price of $14.75 per share, for a total transaction of $248,316.25. Following the completion of the purchase, the director now owns 910,136 shares in the company, valued at approximately $13,424,506. The disclosure for this purchase can be found here. Insiders have sold 87,804 shares of company stock valued at $1,346,779 in the last 90 days. Insiders own 0.72% of the company’s stock.
Huntington Bancshares Profile
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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 operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).
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