Mackenzie Financial Corp Raises Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Mackenzie Financial Corp boosted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBANGet Rating) by 9.9% during the second quarter, Holdings Channel.com reports. The firm owned 106,372 shares of the bank’s stock after acquiring an additional 9,598 shares during the quarter. Mackenzie Financial Corp’s holdings in Huntington Bancshares were worth $1,280,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in HBAN. Core Alternative Capital purchased a new stake in shares of Huntington Bancshares in the 1st quarter worth approximately $25,000. Concord Wealth Partners increased its holdings in shares of Huntington Bancshares by 72.0% during the second quarter. Concord Wealth Partners now owns 2,135 shares of the bank’s stock valued at $26,000 after acquiring an additional 894 shares in the last quarter. Evoke Wealth LLC raised its position in shares of Huntington Bancshares by 142.6% in the 2nd quarter. Evoke Wealth LLC now owns 2,921 shares of the bank’s stock worth $35,000 after purchasing an additional 1,717 shares during the last quarter. Tortoise Investment Management LLC raised its position in shares of Huntington Bancshares by 62.5% in the 1st quarter. Tortoise Investment Management LLC now owns 2,600 shares of the bank’s stock worth $38,000 after purchasing an additional 1,000 shares during the last quarter. Finally, NuWave Investment Management LLC purchased a new stake in Huntington Bancshares during the 2nd quarter valued at about $39,000. Institutional investors own 79.77% of the company’s stock.

Insider Transactions at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 9,749 shares of the stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $15.50, for a total value of $151,109.50. Following the completion of the sale, the vice president now directly owns 214,477 shares of the company’s stock, valued at approximately $3,324,393.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Huntington Bancshares news, Director Gary Torgow acquired 16,835 shares of the stock in a transaction dated Tuesday, October 25th. The shares were acquired at an average cost of $14.75 per share, for a total transaction of $248,316.25. Following the completion of 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 legal filing with the SEC, which is available at this hyperlink. Also, VP Scott D. Kleinman sold 9,749 shares of the company’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $15.50, for a total value of $151,109.50. Following the completion of the transaction, the vice president now directly owns 214,477 shares of the company’s stock, valued at approximately $3,324,393.50. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Huntington Bancshares Stock Performance

HBAN opened at $15.17 on Thursday. The company’s 50 day moving average is $14.24 and its 200 day moving average is $13.54. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.68. The company has a market cap of $21.89 billion, a price-to-earnings ratio of 11.76 and a beta of 1.13. Huntington Bancshares Incorporated has a 12-month low of $11.67 and a 12-month high of $17.79.

Huntington Bancshares (NASDAQ:HBANGet Rating) last issued its quarterly earnings results on Friday, October 21st. The bank reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. Huntington Bancshares had a net margin of 27.34% and a return on equity of 13.76%. During the same quarter in the previous year, the firm posted $0.35 EPS. On average, equities research analysts predict that Huntington Bancshares Incorporated will post 1.47 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Monday, December 19th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date is Friday, December 16th. Huntington Bancshares’s payout ratio is 48.06%.

Wall Street Analysts Forecast Growth

HBAN has been the subject of several recent analyst reports. Royal Bank of Canada lifted their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, November 11th. Morgan Stanley upped their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Friday, November 11th. Wedbush restated a “neutral” rating and issued a $14.00 price target on shares of Huntington Bancshares in a research note on Wednesday, September 28th. Argus raised Huntington Bancshares from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Thursday, July 28th. Finally, Raymond James boosted their target price on Huntington Bancshares from $17.00 to $18.00 and gave the stock a “strong-buy” rating in a research report on Monday, October 24th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.69.

Huntington Bancshares 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).

See Also

Want to see what other hedge funds are holding HBAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Huntington Bancshares Incorporated (NASDAQ:HBANGet Rating).

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

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