Huntington Bancshares Incorporated (HBAN) Position Raised by Prudential PLC
Prudential PLC boosted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,680,600 shares of the bank’s stock after purchasing an additional 53,500 shares during the period. Prudential PLC owned about 0.43% of Huntington Bancshares worth $63,282,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in HBAN. UBS Asset Management Americas Inc. increased its position in Huntington Bancshares by 12.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 2,752,379 shares of the bank’s stock worth $36,854,000 after purchasing an additional 303,683 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Huntington Bancshares by 3.3% in the first quarter. Pacer Advisors Inc. now owns 20,204 shares of the bank’s stock valued at $271,000 after purchasing an additional 652 shares during the period. AXA lifted its stake in shares of Huntington Bancshares by 34.5% in the first quarter. AXA now owns 167,300 shares of the bank’s stock valued at $2,240,000 after purchasing an additional 42,900 shares during the period. Tributary Capital Management LLC lifted its stake in shares of Huntington Bancshares by 5.5% in the first quarter. Tributary Capital Management LLC now owns 38,100 shares of the bank’s stock valued at $510,000 after purchasing an additional 2,000 shares during the period. Finally, MAI Capital Management lifted its stake in shares of Huntington Bancshares by 185.5% in the first quarter. MAI Capital Management now owns 33,978 shares of the bank’s stock valued at $455,000 after purchasing an additional 22,077 shares during the period. Hedge funds and other institutional investors own 74.17% of the company’s stock.
In other news, Director Richard W. Neu acquired 2,450 shares of Huntington Bancshares stock in a transaction dated Friday, July 28th. The stock was acquired at an average cost of $13.10 per share, for a total transaction of $32,095.00. Following the completion of the purchase, the director now owns 184,596 shares of the company’s stock, valued at $2,418,207.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Nicholas G. Stanutz sold 16,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was 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 of the company’s stock, valued at $5,690,546.62. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.
Shares of Huntington Bancshares Incorporated (HBAN) traded down 0.36% during midday trading on Wednesday, hitting $13.85. The company had a trading volume of 1,262,516 shares. The firm has a market cap of $15.10 billion, a price-to-earnings ratio of 19.18 and a beta of 1.38. The company’s 50 day moving average is $12.97 and its 200 day moving average is $13.07. Huntington Bancshares Incorporated has a one year low of $9.57 and a one year high of $14.74.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Huntington Bancshares had a return on equity of 11.39% and a net margin of 18.41%. During the same quarter in the previous year, the firm earned $0.19 earnings per share. Equities analysts forecast that Huntington Bancshares Incorporated will post $0.92 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, September 18th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend was Friday, September 15th. Huntington Bancshares’s payout ratio is 46.38%.
Huntington Bancshares declared that its board has approved a share repurchase program on Wednesday, June 28th that allows the company to repurchase $308.00 million in outstanding shares. This repurchase authorization allows the bank to purchase up to 2.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
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A number of equities research analysts have recently issued reports on HBAN shares. BidaskClub upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. BMO Capital Markets reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Huntington Bancshares in a research note on Friday, June 9th. Instinet reaffirmed a “buy” rating and set a $16.00 price objective (up from $15.00) on shares of Huntington Bancshares in a report on Wednesday, July 12th. Morgan Stanley reduced their price objective on Huntington Bancshares from $14.00 to $13.75 and set an “equal weight” rating for the company in a report on Tuesday, June 6th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $16.00 target price on shares of Huntington Bancshares in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. Huntington Bancshares presently has an average rating of “Buy” and an average target price of $15.01.
Huntington Bancshares 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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