Huntington Bancshares Incorporated (HBAN) Holdings Cut by First Republic Investment Management Inc.
First Republic Investment Management Inc. cut its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 15.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 28,158 shares of the bank’s stock after selling 5,213 shares during the quarter. First Republic Investment Management Inc.’s holdings in Huntington Bancshares were worth $416,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of HBAN. FIL Ltd lifted its stake in Huntington Bancshares by 291.4% in the 1st quarter. FIL Ltd now owns 3,519,656 shares of the bank’s stock worth $53,147,000 after purchasing an additional 2,620,407 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Huntington Bancshares by 437.2% in the 2nd quarter. Janus Henderson Group PLC now owns 2,572,833 shares of the bank’s stock worth $37,976,000 after purchasing an additional 2,093,922 shares in the last quarter. LSV Asset Management lifted its stake in Huntington Bancshares by 45,997.9% in the 2nd quarter. LSV Asset Management now owns 1,705,623 shares of the bank’s stock worth $25,174,000 after purchasing an additional 1,701,923 shares in the last quarter. Millennium Management LLC lifted its stake in Huntington Bancshares by 24.7% in the 1st quarter. Millennium Management LLC now owns 6,138,415 shares of the bank’s stock worth $92,690,000 after purchasing an additional 1,214,418 shares in the last quarter. Finally, Standard Life Aberdeen plc lifted its stake in Huntington Bancshares by 289.5% in the 2nd quarter. Standard Life Aberdeen plc now owns 1,409,240 shares of the bank’s stock worth $20,807,000 after purchasing an additional 1,047,416 shares in the last quarter. Institutional investors and hedge funds own 73.75% of the company’s stock.
Shares of NASDAQ:HBAN opened at $15.67 on Wednesday. The firm has a market capitalization of $17.41 billion, a PE ratio of 14.47, a P/E/G ratio of 0.87 and a beta of 1.33. Huntington Bancshares Incorporated has a one year low of $13.04 and a one year high of $16.60. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.90 and a current ratio of 0.90.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Monday, September 17th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, September 14th. This represents a $0.56 annualized dividend and a dividend yield of 3.57%. This is a positive change from Huntington Bancshares’s previous quarterly dividend of $0.11. Huntington Bancshares’s dividend payout ratio (DPR) is currently 57.14%.
In related news, EVP Richard Remiker sold 5,254 shares of the stock in a transaction on Monday, July 30th. The shares were sold at an average price of $15.55, for a total transaction of $81,699.70. Following the transaction, the executive vice president now owns 321,462 shares of the company’s stock, valued at approximately $4,998,734.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Howell D. Mccullough III sold 68,777 shares of the stock in a transaction on Friday, August 24th. The shares were sold at an average price of $16.17, for a total transaction of $1,112,124.09. Following the transaction, the chief financial officer now directly owns 720,413 shares in the company, valued at approximately $11,649,078.21. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by company insiders.
HBAN has been the topic of several recent analyst reports. Morgan Stanley reiterated a “hold” rating and issued a $17.50 target price (down from $17.75) on shares of Huntington Bancshares in a research note on Tuesday, September 18th. Zacks Investment Research upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Tuesday, July 17th. Piper Jaffray Companies reiterated a “buy” rating and issued a $16.50 target price on shares of Huntington Bancshares in a research note on Thursday, July 26th. BidaskClub lowered shares of Huntington Bancshares from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Finally, Jefferies Financial Group increased their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, August 8th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Huntington Bancshares has an average rating of “Hold” and an average price target of $17.31.
Huntington Bancshares Profile
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's Consumer and Business Banking segment offers financial products and services, such as checking accounts, savings accounts, money market accounts, certificates of deposit, consumer loans, and small business loans; and investments, mortgages, insurance, interest rate risk protection, and foreign exchange and treasury management services.
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