Ontario Teachers Pension Plan Board lessened its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 49.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,635 shares of the bank’s stock after selling 98,476 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Huntington Bancshares were worth $834,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of HBAN. CFM Wealth Partners LLC bought a new position in Huntington Bancshares in the 4th quarter worth approximately $25,000. Ballast Advisors LLC bought a new position in Huntington Bancshares in the 1st quarter worth approximately $25,000. Golden State Wealth Management LLC bought a new position in Huntington Bancshares in the 1st quarter worth approximately $25,000. Litman Gregory Asset Management LLC bought a new position in Huntington Bancshares in the 4th quarter worth approximately $26,000. Finally, TFG Advisers LLC bought a new position in Huntington Bancshares in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 75.32% of the company’s stock.
A number of research firms have commented on HBAN. Nomura Securities lowered their target price on shares of Huntington Bancshares from $14.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Morgan Stanley lowered their target price on shares of Huntington Bancshares from $13.00 to $10.50 and set an “equal weight” rating for the company in a report on Tuesday, April 7th. Nomura reaffirmed a “hold” rating and set a $7.00 target price on shares of Huntington Bancshares in a report on Sunday, April 26th. BMO Capital Markets raised shares of Huntington Bancshares from an “underperform” rating to a “market perform” rating and set a $15.00 target price for the company in a report on Thursday, January 30th. Finally, Barclays reaffirmed a “hold” rating and set a $12.00 target price on shares of Huntington Bancshares in a report on Thursday, April 9th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $10.69.
In related news, EVP Mark E. Thompson sold 11,464 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $8.68, for a total value of $99,507.52. Following the sale, the executive vice president now directly owns 644,809 shares of the company’s stock, valued at approximately $5,596,942.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.70% of the company’s stock.
Shares of HBAN stock opened at $8.10 on Friday. Huntington Bancshares Incorporated has a 12-month low of $6.82 and a 12-month high of $15.63. The firm has a market capitalization of $8.29 billion, a price-to-earnings ratio of 8.26, a price-to-earnings-growth ratio of 3.61 and a beta of 1.55. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.93. The firm has a fifty day moving average of $8.16 and a 200-day moving average of $12.15.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.09). The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. Huntington Bancshares had a net margin of 19.65% and a return on equity of 10.40%. Huntington Bancshares’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the firm earned $0.32 EPS. Research analysts expect that Huntington Bancshares Incorporated will post 0.46 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be given a $0.15 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $0.60 annualized dividend and a yield of 7.41%. Huntington Bancshares’s dividend payout ratio is currently 47.24%.
Huntington Bancshares Company Profile
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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