Wells Fargo & Company MN Has $100.35 Million Holdings in Huntington Bancshares Incorporated (HBAN)
Wells Fargo & Company MN boosted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 10.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,422,603 shares of the bank’s stock after buying an additional 724,176 shares during the quarter. Wells Fargo & Company MN owned about 0.68% of Huntington Bancshares worth $100,354,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Bronfman E.L. Rothschild L.P. increased its position in Huntington Bancshares by 371.0% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 9,548 shares of the bank’s stock worth $128,000 after buying an additional 7,521 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new position in Huntington Bancshares during the second quarter worth $134,000. YG Partners LLC acquired a new position in Huntington Bancshares during the first quarter worth $2,039,000. Foster & Motley Inc. increased its position in Huntington Bancshares by 2.2% during 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 last quarter. Finally, Hartland & Co. LLC acquired a new position in Huntington Bancshares during the first quarter worth $141,000. 74.16% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have commented on the stock. Keefe, Bruyette & Woods set a $14.00 target price on shares of Huntington Bancshares and gave the stock a “hold” rating in a research report on Friday, August 11th. Royal Bank Of Canada reissued a “buy” rating and set a $16.00 target price on shares of Huntington Bancshares in a research report on Friday, September 8th. BidaskClub downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Piper Jaffray Companies raised Huntington Bancshares from a “neutral” rating to an “overweight” rating and raised their price target for the company from $14.00 to $15.00 in a research report on Friday, August 11th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $16.00 price target on shares of Huntington Bancshares in a research report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $14.96.
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Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) opened at 12.79 on Wednesday. The firm has a market capitalization of $13.94 billion, a P/E ratio of 17.71 and a beta of 1.37. Huntington Bancshares Incorporated has a 52-week low of $9.52 and a 52-week high of $14.74. The company’s 50-day moving average price is $12.88 and its 200-day moving average price is $13.16.
Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, July 21st. The bank reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the firm earned $0.19 EPS. On average, equities research analysts expect that Huntington Bancshares Incorporated will post $0.92 EPS for the current fiscal year.
Huntington Bancshares declared that its Board of Directors has approved a share buyback plan on Wednesday, June 28th that authorizes the company to repurchase $308.00 million in outstanding shares. This repurchase authorization authorizes the bank to reacquire up to 2.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 18th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.32 dividend on an annualized basis and a yield of 2.50%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 46.38%.
In related news, EVP Nicholas G. Stanutz sold 16,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $12.71, for a total value of $203,360.00. Following the transaction, the executive vice president now owns 447,722 shares in the company, valued at approximately $5,690,546.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard W. Neu purchased 2,450 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The stock was bought at an average price of $13.10 per share, for a total transaction of $32,095.00. Following the purchase, the director now owns 184,596 shares in the company, valued at approximately $2,418,207.60. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by corporate insiders.
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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