Bank of America Corp DE Acquires 2,704,678 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Bank of America Corp DE boosted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBANGet Rating) by 15.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,482,929 shares of the bank’s stock after purchasing an additional 2,704,678 shares during the quarter. Bank of America Corp DE owned approximately 1.42% of Huntington Bancshares worth $299,459,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Core Alternative Capital bought a new position in Huntington Bancshares in the 1st quarter worth approximately $25,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Huntington Bancshares during the 4th quarter valued at approximately $27,000. Riverview Trust Co bought a new position in shares of Huntington Bancshares during the 1st quarter valued at approximately $27,000. Selective Wealth Management Inc. boosted its position in shares of Huntington Bancshares by 110.0% during the 1st quarter. Selective Wealth Management Inc. now owns 2,100 shares of the bank’s stock valued at $31,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Rockbridge Investment Management LCC boosted its position in shares of Huntington Bancshares by 2,000.0% during the 4th quarter. Rockbridge Investment Management LCC now owns 2,100 shares of the bank’s stock valued at $32,000 after acquiring an additional 2,000 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Gary Torgow purchased 19,382 shares of the business’s stock in a transaction dated Wednesday, July 27th. The shares were purchased at an average price of $12.90 per share, for a total transaction of $250,027.80. Following the completion of the purchase, the director now owns 893,301 shares in the company, valued at approximately $11,523,582.90. The purchase was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Zachary Jacob Wasserman sold 11,618 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $14.36, for a total transaction of $166,834.48. Following the sale, the chief financial officer now owns 230,394 shares of the company’s stock, valued at $3,308,457.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gary Torgow acquired 19,382 shares of the company’s stock in a transaction that occurred on Wednesday, July 27th. The shares were bought at an average cost of $12.90 per share, for a total transaction of $250,027.80. Following the transaction, the director now owns 893,301 shares of the company’s stock, valued at $11,523,582.90. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

HBAN has been the subject of a number of research reports. Raymond James lowered their target price on Huntington Bancshares from $18.00 to $16.00 and set a “strong-buy” rating for the company in a research report on Thursday, July 7th. Argus upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Thursday, July 28th. Jefferies Financial Group lowered their target price on Huntington Bancshares from $14.50 to $13.00 in a research report on Monday, July 11th. Deutsche Bank Aktiengesellschaft decreased their price target on Huntington Bancshares from $16.50 to $15.50 and set a “hold” rating on the stock in a report on Monday, September 12th. Finally, The Goldman Sachs Group decreased their price target on Huntington Bancshares from $17.50 to $14.50 and set a “buy” rating on the stock in a report on Tuesday, May 31st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.13.

Huntington Bancshares Stock Performance

HBAN stock opened at $14.03 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.50. The business’s fifty day simple moving average is $13.51 and its two-hundred day simple moving average is $13.54. Huntington Bancshares Incorporated has a twelve month low of $11.67 and a twelve month high of $17.79. The firm has a market cap of $20.23 billion, a price-to-earnings ratio of 12.53 and a beta of 1.18.

Huntington Bancshares (NASDAQ:HBANGet Rating) last announced its quarterly earnings results on Thursday, July 21st. The bank reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. Huntington Bancshares had a return on equity of 13.11% and a net margin of 25.58%. During the same quarter last year, the company earned $0.35 EPS. Analysts predict that Huntington Bancshares Incorporated will post 1.46 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 19th will be paid a dividend of $0.155 per share. The ex-dividend date is Friday, September 16th. This represents a $0.62 annualized dividend and a dividend yield of 4.42%. Huntington Bancshares’s dividend payout ratio is currently 55.36%.

Huntington Bancshares Company Profile

(Get Rating)

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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Institutional Ownership by Quarter for Huntington Bancshares (NASDAQ:HBAN)

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