Opus Investment Management Inc. Takes $1.54 Million Position in Huntington Bancshares Incorporated (HBAN)
Opus Investment Management Inc. bought a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 110,500 shares of the bank’s stock, valued at approximately $1,543,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Sun Life Financial INC raised its holdings in shares of Huntington Bancshares by 99,812.5% during the second quarter. Sun Life Financial INC now owns 7,993 shares of the bank’s stock valued at $108,000 after acquiring an additional 7,985 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Huntington Bancshares during the second quarter valued at approximately $139,000. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Huntington Bancshares by 8.7% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 10,382 shares of the bank’s stock valued at $140,000 after acquiring an additional 834 shares during the period. Alpha Cubed Investments LLC acquired a new stake in shares of Huntington Bancshares during the third quarter valued at approximately $151,000. Finally, ClariVest Asset Management LLC raised its holdings in shares of Huntington Bancshares by 53.4% during the third quarter. ClariVest Asset Management LLC now owns 11,200 shares of the bank’s stock valued at $156,000 after acquiring an additional 3,900 shares during the period. Institutional investors and hedge funds own 73.77% of the company’s stock.
Huntington Bancshares Incorporated (HBAN) opened at $14.81 on Wednesday. Huntington Bancshares Incorporated has a 1 year low of $12.14 and a 1 year high of $14.93. The company has a market cap of $15,803.43, a P/E ratio of 15.23, a P/E/G ratio of 1.66 and a beta of 1.33. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.96.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Wednesday, October 25th. The bank reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.02). The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Huntington Bancshares had a net margin of 20.76% and a return on equity of 11.96%. During the same period in the previous year, the firm posted $0.11 earnings per share. equities analysts anticipate that Huntington Bancshares Incorporated will post 0.98 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 18th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.97%. This is an increase from Huntington Bancshares’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, December 15th. Huntington Bancshares’s payout ratio is currently 39.51%.
A number of research firms have recently issued reports on HBAN. Piper Jaffray Companies restated a “buy” rating and set a $15.50 price target on shares of Huntington Bancshares in a report on Tuesday, October 17th. FBR & Co restated a “hold” rating and set a $14.00 price target on shares of Huntington Bancshares in a report on Thursday, October 26th. BMO Capital Markets downgraded shares of Huntington Bancshares from an “outperform” rating to a “market perform” rating and set a $16.00 price objective on the stock. in a research report on Thursday, October 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $14.25 price objective on shares of Huntington Bancshares in a research report on Friday, October 13th. Finally, Nomura boosted their price objective on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. Huntington Bancshares has a consensus rating of “Buy” and a consensus price target of $15.46.
In other Huntington Bancshares news, insider Helga Houston sold 14,513 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $13.77, for a total value of $199,844.01. Following the completion of the sale, the insider now directly owns 499,824 shares of the company’s stock, valued at $6,882,576.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel J. Neumeyer sold 43,491 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $13.88, for a total transaction of $603,655.08. Following the completion of the sale, the executive vice president now directly owns 427,270 shares of the company’s stock, valued at $5,930,507.60. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
About Huntington Bancshares
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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