Wolff Wiese Magana LLC Invests $1.92 Million in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Wolff Wiese Magana LLC purchased a new position in Huntington Bancshares Incorporated (NASDAQ:HBANGet Rating) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 159,427 shares of the bank’s stock, valued at approximately $1,918,000. Huntington Bancshares makes up about 1.4% of Wolff Wiese Magana LLC’s investment portfolio, making the stock its 14th biggest holding.

Other hedge funds have also made changes to their positions in the company. Rockefeller Capital Management L.P. grew its holdings in Huntington Bancshares by 2.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 64,089 shares of the bank’s stock valued at $988,000 after purchasing an additional 1,815 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in Huntington Bancshares by 3.1% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 150,570 shares of the bank’s stock valued at $2,322,000 after purchasing an additional 4,487 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Huntington Bancshares during the fourth quarter valued at approximately $27,000. Goldman Sachs Group Inc. grew its holdings in Huntington Bancshares by 3.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,233,662 shares of the bank’s stock valued at $96,124,000 after purchasing an additional 191,645 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in Huntington Bancshares by 13.6% during the fourth quarter. LPL Financial LLC now owns 1,413,552 shares of the bank’s stock valued at $21,797,000 after purchasing an additional 168,897 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN traded down $0.42 during midday trading on Friday, reaching $12.99. 729,637 shares of the company traded hands, compared to its average volume of 16,756,165. The firm has a market cap of $18.73 billion, a PE ratio of 11.97 and a beta of 1.18. The stock’s 50-day simple moving average is $13.61 and its 200-day simple moving average is $13.54. Huntington Bancshares Incorporated has a 12 month low of $11.67 and a 12 month high of $17.79. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 0.82.

Huntington Bancshares (NASDAQ:HBANGet Rating) last issued its quarterly earnings data on Thursday, July 21st. The bank reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the previous year, the firm earned $0.35 earnings per share. As a group, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.46 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 19th will be issued a dividend of $0.155 per share. The ex-dividend date is Friday, September 16th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.77%. Huntington Bancshares’s payout ratio is presently 55.36%.

Wall Street Analysts Forecast Growth

HBAN has been the topic of several research analyst reports. Morgan Stanley lowered their price objective on shares of Huntington Bancshares from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 12th. Argus upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Thursday, July 28th. Jefferies Financial Group lowered their price objective on shares of Huntington Bancshares from $14.50 to $13.00 in a research note on Monday, July 11th. Wolfe Research downgraded shares of Huntington Bancshares from a “peer perform” rating to an “underperform” rating and lowered their price objective for the stock from $15.00 to $11.00 in a research note on Thursday, May 26th. Finally, JPMorgan Chase & Co. downgraded shares of Huntington Bancshares from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $17.50 to $14.50 in a research note on Friday, July 1st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares presently has an average rating of “Hold” and a consensus target price of $15.13.

Insider Buying and Selling at Huntington Bancshares

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

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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