Pennsylvania Trust Co reduced its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 10.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,191 shares of the bank’s stock after selling 2,700 shares during the period. Pennsylvania Trust Co’s holdings in Huntington Bancshares were worth $317,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in HBAN. TIAA FSB acquired a new position in shares of Huntington Bancshares during the 3rd quarter worth approximately $480,000. Fulton Bank N.A. raised its position in shares of Huntington Bancshares by 25.1% during the 3rd quarter. Fulton Bank N.A. now owns 128,525 shares of the bank’s stock worth $1,834,000 after purchasing an additional 25,827 shares during the last quarter. Private Trust Co. NA raised its position in shares of Huntington Bancshares by 2.5% during the 3rd quarter. Private Trust Co. NA now owns 44,065 shares of the bank’s stock worth $628,000 after purchasing an additional 1,067 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Huntington Bancshares by 66.8% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 505,391 shares of the bank’s stock worth $6,985,000 after purchasing an additional 202,379 shares during the last quarter. Finally, Boston Partners raised its position in shares of Huntington Bancshares by 3.2% during the 2nd quarter. Boston Partners now owns 28,056,162 shares of the bank’s stock worth $387,719,000 after purchasing an additional 878,068 shares during the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.
In other Huntington Bancshares news, EVP Nancy E. Maloney sold 2,604 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $14.57, for a total value of $37,940.28. Following the completion of the sale, the executive vice president now owns 80,103 shares in the company, valued at approximately $1,167,100.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.22% of the stock is currently owned by corporate insiders.
HBAN has been the subject of several research reports. Macquarie downgraded Huntington Bancshares from a “neutral” rating to an “underperform” rating and set a $13.78 price objective for the company. in a research report on Friday, July 12th. Nomura set a $14.00 target price on shares of Huntington Bancshares and gave the stock a “hold” rating in a research note on Friday, July 26th. Raymond James set a $14.00 target price on shares of Huntington Bancshares and gave the stock a “buy” rating in a research note on Thursday, August 29th. DA Davidson cut shares of Huntington Bancshares from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a research note on Friday, September 13th. They noted that the move was a valuation call. Finally, ValuEngine raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. Huntington Bancshares has a consensus rating of “Hold” and an average price target of $15.09.
Shares of NASDAQ HBAN opened at $13.99 on Friday. Huntington Bancshares Incorporated has a 52-week low of $11.12 and a 52-week high of $14.97. The firm has a fifty day moving average of $13.80 and a 200-day moving average of $13.53. The stock has a market capitalization of $14.52 billion, a PE ratio of 11.66, a P/E/G ratio of 1.48 and a beta of 1.45. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.86.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Huntington Bancshares had a net margin of 25.77% and a return on equity of 14.23%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.30 EPS. Equities research analysts expect that Huntington Bancshares Incorporated will post 1.3 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend was Monday, September 16th. This is an increase from Huntington Bancshares’s previous quarterly dividend of $0.14. Huntington Bancshares’s dividend payout ratio is 50.00%.
About Huntington Bancshares
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).
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