Bank Julius Baer & Co. Ltd Zurich Acquires 36,879 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,253,469 shares of the bank’s stock after buying an additional 36,879 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Huntington Bancshares were worth $41,384,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HBAN. Boston Partners lifted its holdings in shares of Huntington Bancshares by 33.0% during the 3rd quarter. Boston Partners now owns 29,277,030 shares of the bank’s stock valued at $304,439,000 after buying an additional 7,271,405 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Huntington Bancshares by 23.7% during the 3rd quarter. Victory Capital Management Inc. now owns 17,925,067 shares of the bank’s stock valued at $186,421,000 after buying an additional 3,438,552 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of Huntington Bancshares during the 3rd quarter valued at $20,004,000. AQR Capital Management LLC lifted its holdings in shares of Huntington Bancshares by 1,652.2% during the 3rd quarter. AQR Capital Management LLC now owns 1,806,333 shares of the bank’s stock valued at $18,786,000 after buying an additional 1,703,245 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Huntington Bancshares by 31.6% during the 3rd quarter. Barclays PLC now owns 5,395,974 shares of the bank’s stock valued at $56,117,000 after buying an additional 1,296,978 shares during the period. 80.72% of the stock is owned by institutional investors.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock traded down $0.03 during trading on Friday, reaching $13.55. 12,209,141 shares of the stock traded hands, compared to its average volume of 17,717,398. The company has a market capitalization of $19.62 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 2.53 and a beta of 1.11. The business has a fifty day simple moving average of $13.36 and a two-hundred day simple moving average of $12.26. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a 52-week low of $9.13 and a 52-week high of $14.07.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the business posted $0.38 earnings per share. Sell-side analysts expect that Huntington Bancshares Incorporated will post 1.22 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend is Friday, June 14th. Huntington Bancshares’s payout ratio is 55.86%.

Insider Activity at Huntington Bancshares

In related news, insider Helga Houston sold 28,700 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $13.17, for a total value of $377,979.00. Following the completion of the transaction, the insider now owns 568,222 shares of the company’s stock, valued at approximately $7,483,483.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Huntington Bancshares news, insider Kendall A. Kowalski sold 15,948 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $13.47, for a total value of $214,819.56. Following the completion of the sale, the insider now owns 21,102 shares of the company’s stock, valued at $284,243.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Helga Houston sold 28,700 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total transaction of $377,979.00. Following the completion of the sale, the insider now directly owns 568,222 shares of the company’s stock, valued at approximately $7,483,483.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 198,189 shares of company stock valued at $2,664,978. Insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

HBAN has been the subject of several analyst reports. Evercore ISI upped their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Citigroup upped their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Barclays upgraded Huntington Bancshares from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $12.00 to $15.00 in a research note on Tuesday, January 2nd. Bank of America upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their price target for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. Finally, DA Davidson upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their price target for the stock from $14.00 to $15.50 in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average target price of $15.17.

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 offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.