Dimensional Fund Advisors LP Buys 5,026,894 Shares of Huntington Bancshares Incorporated $HBAN

Dimensional Fund Advisors LP lifted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 27.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,480,601 shares of the bank’s stock after buying an additional 5,026,894 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Huntington Bancshares were worth $367,388,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of HBAN. MV Capital Management Inc. purchased a new position in shares of Huntington Bancshares in the fourth quarter valued at about $25,000. Palisade Asset Management LLC bought a new position in shares of Huntington Bancshares during the 3rd quarter valued at approximately $26,000. Centennial Bank AR bought a new position in Huntington Bancshares during the fourth quarter valued at $28,000. DV Equities LLC purchased a new position in Huntington Bancshares in the fourth quarter worth about $38,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Huntington Bancshares by 80.7% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,226 shares of the bank’s stock worth $35,000 after purchasing an additional 994 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

HBAN has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. JPMorgan Chase & Co. upped their target price on Huntington Bancshares from $18.50 to $19.50 and gave the stock an “overweight” rating in a report on Monday, July 6th. Royal Bank Of Canada increased their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Barclays downgraded Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Finally, Wall Street Zen raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.25.

Insider Transactions at Huntington Bancshares

In related news, Director James D. Rollins III sold 223,522 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the transaction, the director directly owned 612,155 shares in the company, valued at approximately $10,620,889.25. The trade was a 26.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Marcy C. Hingst sold 10,568 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the completion of the sale, the executive vice president owned 267,859 shares of the company’s stock, valued at $4,821,462. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have purchased 33,500 shares of company stock worth $617,542 over the last 90 days. 0.67% of the stock is currently owned by company insiders.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $18.17 on Wednesday. The business’s 50 day moving average price is $16.99 and its 200 day moving average price is $16.93. The firm has a market cap of $36.83 billion, a P/E ratio of 13.98, a P/E/G ratio of 0.81 and a beta of 0.93. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period last year, the firm earned $0.34 EPS. On average, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th were issued a $0.155 dividend. The ex-dividend date was Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.4%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 47.69%.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.