Sumitomo Mitsui Trust Holdings Inc. Has $43.10 Million Stake in Huntington Bancshares Incorporated (HBAN)
Sumitomo Mitsui Trust Holdings Inc. decreased its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,087,042 shares of the bank’s stock after selling 71,610 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.29% of Huntington Bancshares worth $43,095,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Sun Life Financial INC lifted its stake in shares of Huntington Bancshares by 99,812.5% in the second quarter. Sun Life Financial INC now owns 7,993 shares of the bank’s stock worth $108,000 after acquiring an additional 7,985 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new stake in Huntington Bancshares during the second quarter valued at approximately $134,000. Verition Fund Management LLC acquired a new stake in Huntington Bancshares during the second quarter valued at approximately $139,000. Bronfman E.L. Rothschild L.P. raised its stake in 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 buying an additional 834 shares in the last quarter. Finally, Foster & Motley Inc. raised its stake in Huntington Bancshares by 2.2% during the second quarter. Foster & Motley Inc. now owns 10,504 shares of the bank’s stock valued at $142,000 after buying an additional 224 shares in the last quarter. 73.54% of the stock is owned by institutional investors.
In other news, insider Helga Houston sold 14,513 shares of the stock in a transaction on Thursday, November 2nd. The stock was 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 owns 499,824 shares in the company, valued at $6,882,576.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel J. Neumeyer sold 43,491 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $13.88, for a total value of $603,655.08. Following the completion of the sale, the executive vice president now owns 427,270 shares of the company’s stock, valued at approximately $5,930,507.60. The disclosure for this sale can be found here. Insiders have sold a total of 74,004 shares of company stock valued at $1,006,859 in the last quarter. Insiders own 1.30% of the company’s stock.
Several analysts have issued reports on HBAN shares. Royal Bank Of Canada restated a “buy” rating and set a $16.00 price objective on shares of Huntington Bancshares in a research note on Thursday, July 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $14.25 target price on shares of Huntington Bancshares in a report on Friday, October 13th. Nomura upped their target price on Huntington Bancshares from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Sanford C. Bernstein raised Huntington Bancshares from a “market perform” rating to an “outperform” rating and upped their target price for the company from $15.00 to $17.00 in a report on Thursday, September 14th. Finally, Hilliard Lyons raised Huntington Bancshares from a “neutral” rating to a “buy” rating and upped their target price for the company from $14.00 to $15.00 in a report on Monday, July 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $15.22.
Shares of Huntington Bancshares Incorporated (HBAN) traded up $0.03 during trading hours on Tuesday, hitting $13.57. The stock had a trading volume of 4,565,500 shares, compared to its average volume of 9,497,159. Huntington Bancshares Incorporated has a one year low of $12.14 and a one year high of $14.74. The firm has a market cap of $14,670.00, a P/E ratio of 14.10, a PEG ratio of 1.54 and a beta of 1.34. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.87.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data 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 net margin of 20.76% and a return on equity of 11.96%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the company posted $0.11 EPS. research analysts expect that Huntington Bancshares Incorporated will post 0.97 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 18th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Friday, December 15th. This is an increase from Huntington Bancshares’s previous quarterly dividend of $0.08. Huntington Bancshares’s dividend payout ratio is 38.55%.
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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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