Huntington Bancshares Incorporated (HBAN) Stake Raised by Williams Jones & Associates LLC
Williams Jones & Associates LLC lifted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 370,792 shares of the bank’s stock after purchasing an additional 1,150 shares during the quarter. Williams Jones & Associates LLC’s holdings in Huntington Bancshares were worth $5,013,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of HBAN. BlackRock Inc. increased its position in shares of Huntington Bancshares by 2,879.7% during the 1st quarter. BlackRock Inc. now owns 68,761,543 shares of the bank’s stock worth $920,719,000 after purchasing an additional 66,453,890 shares in the last quarter. FMR LLC lifted its holdings in Huntington Bancshares by 21.4% during the 1st 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 during the last quarter. Capital International Investors lifted its holdings in Huntington Bancshares by 22.6% during the 2nd quarter. Capital International Investors now owns 43,919,215 shares of the bank’s stock valued at $593,788,000 after purchasing an additional 8,101,400 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Huntington Bancshares by 3.8% during the 1st 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 during the last quarter. Finally, TIAA CREF Investment Management LLC lifted its holdings in Huntington Bancshares by 69.0% during the 1st 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 during the last quarter. 74.17% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have commented on the stock. Royal Bank Of Canada restated a “buy” rating and issued a $16.00 price target on shares of Huntington Bancshares in a research report on Thursday, July 27th. BMO Capital Markets reaffirmed an “outperform” rating and set a $15.00 price objective (down previously from $16.00) on shares of Huntington Bancshares in a report on Friday, July 21st. Sanford C. Bernstein raised shares of Huntington Bancshares from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $15.00 to $17.00 in a report on Thursday, September 14th. Hilliard Lyons upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their target price for the company from $14.00 to $15.00 in a research note on Monday, July 24th. Finally, JMP Securities began coverage on shares of Huntington Bancshares in a research note on Thursday, August 31st. They issued an “outperform” rating and a $15.00 target price for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $15.01.
In related news, Director Richard W. Neu acquired 2,450 shares of the stock in a transaction dated Friday, July 28th. The stock was bought at an average cost of $13.10 per share, for a total transaction of $32,095.00. Following the completion of the transaction, the director now directly owns 184,596 shares of the company’s stock, valued at $2,418,207.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nicholas G. Stanutz sold 16,000 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $12.71, for a total value of $203,360.00. Following the completion of the transaction, the executive vice president now directly owns 447,722 shares in the company, valued at $5,690,546.62. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.
Huntington Bancshares Incorporated (NASDAQ HBAN) traded down 1.603% on Tuesday, reaching $13.815. 4,375,817 shares of the company traded hands. The stock has a market capitalization of $15.06 billion, a PE ratio of 19.134 and a beta of 1.38. Huntington Bancshares Incorporated has a one year low of $9.57 and a one year high of $14.74. The firm has a 50 day moving average of $12.95 and a 200-day moving average of $13.06.
Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Friday, July 21st. The bank reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.03. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations 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 firm posted $0.19 earnings per share. On average, analysts anticipate that Huntington Bancshares Incorporated will post $0.92 EPS for the current year.
Huntington Bancshares declared that its Board of Directors has initiated a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, September 18th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Friday, September 15th. Huntington Bancshares’s dividend payout ratio is currently 46.38%.
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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