Huntington Bancshares Incorporated (HBAN) Holdings Reduced by HighTower Advisors LLC
HighTower Advisors LLC lessened its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 229,879 shares of the bank’s stock after selling 1,429 shares during the period. HighTower Advisors LLC’s holdings in Huntington Bancshares were worth $3,104,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of HBAN. BlackRock Inc. increased its stake in Huntington Bancshares by 2,879.7% in the first quarter. BlackRock Inc. now owns 68,761,543 shares of the bank’s stock valued at $920,719,000 after purchasing an additional 66,453,890 shares in the last quarter. FMR LLC increased its stake in Huntington Bancshares by 21.4% in the first quarter. FMR LLC now owns 98,004,607 shares of the bank’s stock valued at $1,312,281,000 after purchasing an additional 17,263,771 shares in the last quarter. Vanguard Group Inc. increased its stake in Huntington Bancshares by 3.8% in the first quarter. Vanguard Group Inc. now owns 107,431,420 shares of the bank’s stock valued at $1,438,506,000 after purchasing an additional 3,937,628 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Huntington Bancshares by 69.0% in the first quarter. TIAA CREF Investment Management LLC now owns 9,632,505 shares of the bank’s stock valued at $128,979,000 after purchasing an additional 3,932,611 shares in the last quarter. Finally, Teachers Advisors LLC increased its stake in Huntington Bancshares by 37.1% in the first quarter. Teachers Advisors LLC now owns 5,580,551 shares of the bank’s stock valued at $74,724,000 after purchasing an additional 1,511,023 shares in the last quarter. 74.17% of the stock is owned by hedge funds and other institutional investors.
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Huntington Bancshares Incorporated (NASDAQ HBAN) opened at 13.96 on Friday. The company’s 50-day moving average is $13.02 and its 200 day moving average is $13.08. Huntington Bancshares Incorporated has a one year low of $9.57 and a one year high of $14.74. The firm has a market cap of $15.22 billion, a PE ratio of 19.34 and a beta of 1.38.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, July 21st. The bank reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.03. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. During the same quarter in the previous year, the business posted $0.19 EPS. Equities analysts anticipate that Huntington Bancshares Incorporated will post $0.92 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Monday, September 18th were paid a $0.08 dividend. The ex-dividend date was Friday, September 15th. This represents a $0.32 annualized dividend and a dividend yield of 2.29%. Huntington Bancshares’s dividend payout ratio is currently 46.38%.
Huntington Bancshares announced that its Board of Directors has approved a share buyback plan on Wednesday, June 28th that allows the company to buyback $308.00 million in shares. This buyback authorization allows the bank to reacquire up to 2.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In other Huntington Bancshares news, 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 completion of the sale, the executive vice president now owns 447,722 shares in the company, valued at approximately $5,690,546.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard W. Neu purchased 2,450 shares of the firm’s stock in a transaction on Friday, July 28th. The shares were acquired at an average price of $13.10 per share, with a total value of $32,095.00. Following the purchase, the director now directly owns 184,596 shares in the company, valued at approximately $2,418,207.60. The disclosure for this purchase can be found here. Insiders own 1.30% of the company’s stock.
HBAN has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed a “buy” rating and issued a $16.00 target price on shares of Huntington Bancshares in a research note on Friday, June 9th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $16.00 target price on shares of Huntington Bancshares in a research note on Thursday, July 27th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Huntington Bancshares in a research note on Monday, July 3rd. Hilliard Lyons raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and upped their target price for the company from $14.00 to $15.00 in a research note on Monday, July 24th. Finally, Instinet reaffirmed a “buy” rating and issued a $16.00 target price (up previously from $15.00) on shares of Huntington Bancshares in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. Huntington Bancshares has a consensus rating of “Buy” and an average target price of $15.01.
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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