Pinebridge Investments L.P. Acquires 166,992 Shares of Huntington Bancshares Incorporated (HBAN)
Pinebridge Investments L.P. grew its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 12.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,502,332 shares of the bank’s stock after buying an additional 166,992 shares during the period. Pinebridge Investments L.P. owned approximately 0.14% of Huntington Bancshares worth $20,973,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the business. Lincoln National Corp grew its stake in shares of Huntington Bancshares by 0.6% in the 2nd quarter. Lincoln National Corp now owns 14,350 shares of the bank’s stock worth $194,000 after buying an additional 84 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Huntington Bancshares by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 80,766 shares of the bank’s stock worth $1,092,000 after buying an additional 216 shares in the last quarter. Raymond James Trust N.A. grew its stake in shares of Huntington Bancshares by 1.3% in the 2nd quarter. Raymond James Trust N.A. now owns 22,377 shares of the bank’s stock worth $303,000 after buying an additional 289 shares in the last quarter. GHP Investment Advisors Inc. grew its stake in shares of Huntington Bancshares by 0.3% in the 2nd quarter. GHP Investment Advisors Inc. now owns 149,042 shares of the bank’s stock worth $2,015,000 after buying an additional 451 shares in the last quarter. Finally, MAI Capital Management grew its stake in shares of Huntington Bancshares by 1.5% in the 2nd quarter. MAI Capital Management now owns 34,493 shares of the bank’s stock worth $466,000 after buying an additional 515 shares in the last quarter. 75.26% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Daniel J. Neumeyer sold 43,491 shares of Huntington Bancshares stock in a transaction dated Tuesday, October 31st. The shares were 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 owns 427,270 shares in the company, valued at approximately $5,930,507.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Helga Houston sold 14,513 shares of Huntington Bancshares stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $13.77, for a total transaction of $199,844.01. Following the sale, the insider now owns 499,824 shares of the company’s stock, valued at approximately $6,882,576.48. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
HBAN has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $14.25 price objective on shares of Huntington Bancshares in a research note on Friday, October 13th. Nomura lifted their price objective on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Sanford C. Bernstein raised shares of Huntington Bancshares from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $15.00 to $17.00 in a research note on Thursday, September 14th. Royal Bank Of Canada reissued a “buy” rating and issued a $16.00 price objective on shares of Huntington Bancshares in a research note on Friday, September 8th. Finally, JMP Securities began coverage on shares of Huntington Bancshares in a research note on Thursday, August 31st. They set an “outperform” rating and a $15.00 price target for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. Huntington Bancshares presently has an average rating of “Buy” and a consensus target price of $15.24.
Huntington Bancshares Incorporated (HBAN) opened at $14.44 on Friday. Huntington Bancshares Incorporated has a 52 week low of $12.14 and a 52 week high of $14.77. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.96. The company has a market cap of $15,608.86, a PE ratio of 15.04, a P/E/G ratio of 1.65 and a beta of 1.33.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Wednesday, October 25th. The bank reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Huntington Bancshares had a return on equity of 11.96% and a net margin of 20.76%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the firm posted $0.11 earnings per share. analysts predict that Huntington Bancshares Incorporated will post 0.97 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 18th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, December 15th. This is a boost from Huntington Bancshares’s previous quarterly dividend of $0.08. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.05%. Huntington Bancshares’s payout ratio is currently 39.51%.
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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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