BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 63.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 272,702 shares of the bank’s stock after acquiring an additional 105,829 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Huntington Bancshares were worth $3,891,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Stonebridge Capital Advisors LLC purchased a new position in shares of Huntington Bancshares during the first quarter worth approximately $26,000. Investors Research Corp purchased a new position in shares of Huntington Bancshares during the second quarter worth approximately $26,000. E Fund Management Co. Ltd. purchased a new position in shares of Huntington Bancshares in the first quarter worth $28,000. O Shaughnessy Asset Management LLC increased its stake in shares of Huntington Bancshares by 49.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 2,457 shares of the bank’s stock worth $39,000 after buying an additional 814 shares during the period. Finally, TimeScale Financial Inc. increased its stake in shares of Huntington Bancshares by 55.1% in the second quarter. TimeScale Financial Inc. now owns 3,008 shares of the bank’s stock worth $43,000 after buying an additional 1,069 shares during the period. 76.75% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently commented on HBAN shares. Raymond James raised shares of Huntington Bancshares from an “outperform” rating to a “strong-buy” rating and set a $18.00 target price on the stock in a research note on Wednesday, June 23rd. Morgan Stanley lifted their target price on shares of Huntington Bancshares from $18.50 to $18.75 and gave the stock an “equal weight” rating in a research note on Monday, August 2nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of Huntington Bancshares in a research note on Wednesday, July 7th. The Goldman Sachs Group began coverage on shares of Huntington Bancshares in a research note on Wednesday, August 18th. They issued a “buy” rating on the stock. Finally, TheStreet cut shares of Huntington Bancshares from a “b-” rating to a “c+” rating in a report on Thursday, July 29th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $16.03.
Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Wednesday, July 28th. The bank reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.03. Huntington Bancshares had a net margin of 31.76% and a return on equity of 12.87%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.32 billion. On average, analysts expect that Huntington Bancshares Incorporated will post 1.57 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Friday, September 17th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Thursday, September 16th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 86.96%.
Huntington Bancshares Company Profile
Huntington Bancshares, Inc operates as a bank holding company. It 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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