Highbridge Capital Management LLC Acquires New Holdings in Huntington Bancshares Incorporated (HBAN)
Highbridge Capital Management LLC acquired a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,060,000 shares of the bank’s stock, valued at approximately $15,815,000. Highbridge Capital Management LLC owned approximately 0.10% of Huntington Bancshares at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. BB&T Securities LLC grew its holdings in Huntington Bancshares by 17.1% in the 2nd quarter. BB&T Securities LLC now owns 503,620 shares of the bank’s stock worth $7,432,000 after buying an additional 73,711 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Huntington Bancshares by 1.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,328,824 shares of the bank’s stock worth $49,134,000 after acquiring an additional 50,318 shares in the last quarter. FormulaFolio Investments LLC boosted its stake in shares of Huntington Bancshares by 55.5% during the 3rd quarter. FormulaFolio Investments LLC now owns 117,531 shares of the bank’s stock worth $1,754,000 after acquiring an additional 41,946 shares in the last quarter. FSI Group LLC boosted its stake in shares of Huntington Bancshares by 4.9% during the 3rd quarter. FSI Group LLC now owns 597,963 shares of the bank’s stock worth $8,922,000 after acquiring an additional 27,835 shares in the last quarter. Finally, Opus Investment Management Inc. boosted its stake in shares of Huntington Bancshares by 10.8% during the 3rd quarter. Opus Investment Management Inc. now owns 204,500 shares of the bank’s stock worth $3,051,000 after acquiring an additional 20,000 shares in the last quarter. 76.88% of the stock is owned by institutional investors and hedge funds.
In related news, Director Kathleen H. Ransier sold 4,820 shares of the stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $14.53, for a total transaction of $70,034.60. Following the completion of the sale, the director now directly owns 113,712 shares in the company, valued at $1,652,235.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Helga Houston sold 42,608 shares of the stock in a transaction on Tuesday, November 13th. The stock was sold at an average price of $14.66, for a total value of $624,633.28. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by company insiders.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.01. Huntington Bancshares had a return on equity of 13.73% and a net margin of 29.13%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the company earned $0.25 earnings per share. Huntington Bancshares’s quarterly revenue was up 4.6% compared to the same quarter last year. Analysts anticipate that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Tuesday, December 18th will be issued a dividend of $0.14 per share. The ex-dividend date is Monday, December 17th. This represents a $0.56 annualized dividend and a dividend yield of 4.09%. Huntington Bancshares’s dividend payout ratio is 57.14%.
Several equities research analysts have recently weighed in on HBAN shares. Zacks Investment Research raised Huntington Bancshares from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Tuesday, September 25th. ValuEngine lowered Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, October 22nd. Jefferies Financial Group raised their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, August 8th. Morgan Stanley reissued a “hold” rating and set a $17.50 price objective (down from $17.75) on shares of Huntington Bancshares in a research note on Tuesday, September 18th. Finally, Vining Sparks reissued a “buy” rating and set a $19.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, October 9th. Fourteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $16.92.
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About Huntington Bancshares
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).
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