Edgestream Partners L.P. acquired a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 232,828 shares of the bank’s stock, valued at approximately $2,510,000.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Huntington Bancshares by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 162,794,916 shares of the bank’s stock worth $2,380,062,000 after acquiring an additional 2,353,575 shares during the period. BlackRock Inc. grew its holdings in Huntington Bancshares by 0.5% in the first quarter. BlackRock Inc. now owns 137,586,195 shares of the bank’s stock valued at $1,540,965,000 after purchasing an additional 652,310 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Huntington Bancshares by 4.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 45,499,256 shares of the bank’s stock worth $482,164,000 after buying an additional 1,771,107 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Huntington Bancshares by 5.0% in the 1st quarter. Geode Capital Management LLC now owns 31,820,975 shares of the bank’s stock worth $355,630,000 after buying an additional 1,516,892 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Huntington Bancshares by 0.7% in the 1st quarter. JPMorgan Chase & Co. now owns 31,327,949 shares of the bank’s stock valued at $350,873,000 after acquiring an additional 232,098 shares during the last quarter. Hedge funds and other institutional investors own 78.68% of the company’s stock.
Analysts Set New Price Targets
Several analysts have issued reports on HBAN shares. Citigroup assumed coverage on shares of Huntington Bancshares in a report on Friday, September 29th. They issued a “buy” rating and a $12.00 price target on the stock. DA Davidson increased their target price on Huntington Bancshares from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Monday, July 24th. The Goldman Sachs Group raised their price target on Huntington Bancshares from $12.00 to $13.50 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. JPMorgan Chase & Co. reduced their price objective on Huntington Bancshares from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, October 5th. Finally, Bank of America dropped their price objective on Huntington Bancshares from $13.00 to $11.00 in a research report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.30.
Huntington Bancshares Stock Up 1.6 %
Shares of NASDAQ HBAN opened at $11.08 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $16.04 billion, a PE ratio of 7.34, a P/E/G ratio of 6.11 and a beta of 1.11. The firm has a fifty day moving average of $10.23 and a 200-day moving average of $10.71. Huntington Bancshares Incorporated has a 52-week low of $9.13 and a 52-week high of $15.74.
Huntington Bancshares (NASDAQ:HBAN – Get Free Report) last announced its quarterly earnings results on Friday, October 20th. The bank reported $0.36 EPS for the quarter, topping the consensus estimate of $0.32 by $0.04. The company had revenue of $2.82 billion during the quarter, compared to analyst estimates of $1.82 billion. Huntington Bancshares had a return on equity of 14.71% and a net margin of 22.55%. During the same period in the prior year, the firm posted $0.39 earnings per share. On average, analysts anticipate that Huntington Bancshares Incorporated will post 1.37 EPS for the current year.
Huntington Bancshares Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 18th will be paid a dividend of $0.155 per share. The ex-dividend date is Friday, December 15th. This represents a $0.62 annualized dividend and a yield of 5.60%. Huntington Bancshares’s dividend payout ratio is currently 41.06%.
Insider Transactions at Huntington Bancshares
In related news, insider Helga Houston sold 4,300 shares of Huntington Bancshares stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $10.46, for a total transaction of $44,978.00. Following the transaction, the insider now owns 595,514 shares in the company, valued at approximately $6,229,076.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.89% of the company’s stock.
Huntington Bancshares Company Profile
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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