Barings LLC Continues to Hold Holdings in Huntington Bancshares Incorporated (HBAN)
Barings LLC held its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,581 shares of the bank’s stock at the close of the second quarter. Barings LLC’s holdings in Huntington Bancshares were worth $825,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Sun Life Financial INC lifted its position in Huntington Bancshares by 99,812.5% in the 2nd quarter. Sun Life Financial INC now owns 7,993 shares of the bank’s stock valued at $108,000 after acquiring an additional 7,985 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in Huntington Bancshares in the 2nd quarter valued at approximately $134,000. Bronfman E.L. Rothschild L.P. lifted its position in Huntington Bancshares by 8.7% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 10,382 shares of the bank’s stock valued at $140,000 after acquiring an additional 834 shares in the last quarter. Foster & Motley Inc. lifted its position in Huntington Bancshares by 2.2% in the 2nd quarter. Foster & Motley Inc. now owns 10,504 shares of the bank’s stock valued at $142,000 after acquiring an additional 224 shares in the last quarter. Finally, Eqis Capital Management Inc. bought a new position in Huntington Bancshares in the 2nd quarter valued at approximately $146,000. 74.17% of the stock is currently owned by institutional investors and hedge funds.
Huntington Bancshares Incorporated (NASDAQ:HBAN) opened at 13.70 on Friday. The company has a 50-day moving average price of $13.22 and a 200-day moving average price of $13.11. Huntington Bancshares Incorporated has a one year low of $9.65 and a one year high of $14.74. The company has a market capitalization of $14.93 billion, a PE ratio of 18.98 and a beta of 1.38.
Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, July 21st. The bank reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. During the same period in the previous year, the firm posted $0.19 earnings per share. Analysts expect that Huntington Bancshares Incorporated will post $0.92 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, September 18th were given a dividend of $0.08 per share. The ex-dividend date was Friday, September 15th. This represents a $0.32 dividend on an annualized basis and a yield of 2.34%. Huntington Bancshares’s dividend payout ratio is presently 46.38%.
Huntington Bancshares declared that its board has initiated a share repurchase plan on Wednesday, June 28th that allows the company to buyback $308.00 million in shares. This buyback authorization allows the bank to repurchase up to 2.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.
HBAN has been the topic of several analyst reports. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Huntington Bancshares in a research report on Thursday, July 27th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $15.00 price objective (down from $16.00) on shares of Huntington Bancshares in a research report on Friday, July 21st. Sanford C. Bernstein raised Huntington Bancshares from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $15.00 to $17.00 in a research report on Thursday, September 14th. Hilliard Lyons raised Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their price target for the company from $14.00 to $15.00 in a report on Monday, July 24th. Finally, JMP Securities started coverage on Huntington Bancshares in a report on Thursday, August 31st. They set an “outperform” rating and a $15.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $15.01.
In other Huntington Bancshares news, Director Richard W. Neu bought 2,450 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The stock was bought at an average cost of $13.10 per share, for a total transaction of $32,095.00. Following the completion of the transaction, the director now directly owns 184,596 shares of the company’s stock, valued at approximately $2,418,207.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nicholas G. Stanutz sold 16,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $12.71, for a total transaction of $203,360.00. Following the transaction, the executive vice president now owns 447,722 shares of the company’s stock, valued at $5,690,546.62. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
Huntington Bancshares Company Profile
Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.
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