Huntington Bancshares Incorporated (HBAN) Position Reduced by Candriam Luxembourg S.C.A.
Candriam Luxembourg S.C.A. reduced its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 9.8% during the second quarter, Holdings Channel reports. The firm owned 109,178 shares of the bank’s stock after selling 11,900 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Huntington Bancshares were worth $1,476,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. raised its position in Huntington Bancshares by 27.3% in the second quarter. Stratos Wealth Partners LTD. now owns 144,499 shares of the bank’s stock worth $1,954,000 after buying an additional 30,971 shares during the period. Foster & Motley Inc. raised its position in Huntington Bancshares by 2.2% in the second quarter. Foster & Motley Inc. now owns 10,504 shares of the bank’s stock worth $142,000 after buying an additional 224 shares during the period. Exchange Capital Management Inc. raised its position in Huntington Bancshares by 96.4% in the second quarter. Exchange Capital Management Inc. now owns 66,824 shares of the bank’s stock worth $903,000 after buying an additional 32,792 shares during the period. CIBC Asset Management Inc raised its position in Huntington Bancshares by 1.6% in the second quarter. CIBC Asset Management Inc now owns 115,356 shares of the bank’s stock worth $1,560,000 after buying an additional 1,788 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in Huntington Bancshares by 55.9% in the second quarter. Janney Montgomery Scott LLC now owns 347,637 shares of the bank’s stock worth $4,700,000 after buying an additional 124,633 shares during the period. Hedge funds and other institutional investors own 74.75% of the company’s stock.
Shares of Huntington Bancshares Incorporated (HBAN) opened at 12.72 on Friday. Huntington Bancshares Incorporated has a 1-year low of $9.43 and a 1-year high of $14.74. The company has a market capitalization of $13.87 billion, a P/E ratio of 17.62 and a beta of 1.37. The company’s 50 day moving average is $13.36 and its 200-day moving average is $13.33.
Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, July 21st. The bank reported $0.26 EPS for the quarter, topping the consensus estimate of $0.23 by $0.03. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the company earned $0.19 EPS. On average, equities research analysts forecast that Huntington Bancshares Incorporated will post $0.91 EPS for the current year.
Huntington Bancshares announced that its board has approved a stock repurchase program on Wednesday, June 28th that allows the company to buyback $308.00 million in outstanding shares. This buyback authorization allows the bank to purchase up to 2.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 18th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.32 annualized dividend and a yield of 2.52%. Huntington Bancshares’s dividend payout ratio is presently 46.38%.
A number of equities analysts have commented on the stock. Piper Jaffray Companies upgraded shares of Huntington Bancshares from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $14.00 to $15.00 in a research report on Friday. BidaskClub lowered shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. 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. Hilliard Lyons upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and upped their target price for the stock from $14.00 to $15.00 in a research report on Monday, July 24th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $15.00 target price (down from $16.00) on shares of Huntington Bancshares in a research report on Friday, July 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $14.96.
In other Huntington Bancshares news, CEO Stephen D. Steinour bought 50,000 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The shares were acquired at an average cost of $12.40 per share, for a total transaction of $620,000.00. Following the transaction, the chief executive officer now directly owns 3,891,831 shares in the company, valued at $48,258,704.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard W. Neu bought 2,450 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were acquired at an average price of $13.10 per share, for a total transaction of $32,095.00. Following the completion of the transaction, the director now owns 184,596 shares in the company, valued at $2,418,207.60. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 67,940 shares of company stock worth $852,226. 1.30% of the stock is owned by corporate insiders.
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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