Wheatland Advisors Inc. Has $159,000 Stake in Huntington Bancshares Incorporated (HBAN)
Wheatland Advisors Inc. held its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the second quarter, Holdings Channel reports. The institutional investor owned 11,797 shares of the bank’s stock at the end of the second quarter. Wheatland Advisors Inc.’s holdings in Huntington Bancshares were worth $159,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Formidable Asset Management LLC boosted its position in Huntington Bancshares by 0.6% in the first quarter. Formidable Asset Management LLC now owns 16,520 shares of the bank’s stock worth $216,000 after buying an additional 100 shares during the period. Cleararc Capital Inc. raised its position in Huntington Bancshares by 0.7% in the first quarter. Cleararc Capital Inc. now owns 26,527 shares of the bank’s stock valued at $355,000 after buying an additional 176 shares during the last quarter. Janney Capital Management LLC raised its position in Huntington Bancshares by 0.6% in the second quarter. Janney Capital Management LLC now owns 29,185 shares of the bank’s stock valued at $394,000 after buying an additional 179 shares during the last quarter. North Star Asset Management Inc. raised its position in Huntington Bancshares by 1.6% in the first quarter. North Star Asset Management Inc. now owns 12,656 shares of the bank’s stock valued at $169,000 after buying an additional 200 shares during the last quarter. Finally, OLD National Bancorp IN raised its position in Huntington Bancshares by 1.2% in the second quarter. OLD National Bancorp IN now owns 19,152 shares of the bank’s stock valued at $259,000 after buying an additional 220 shares during the last quarter. 74.75% of the stock is owned by institutional investors.
Shares of Huntington Bancshares Incorporated (NASDAQ HBAN) opened at 13.17 on Thursday. The firm’s 50-day moving average price is $13.37 and its 200 day moving average price is $13.34. The firm has a market capitalization of $14.36 billion, a price-to-earnings ratio of 18.24 and a beta of 1.37. Huntington Bancshares Incorporated has a 52 week low of $9.40 and a 52 week high of $14.74.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, July 21st. The bank reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.03. Huntington Bancshares had a return on equity of 11.39% and a net margin of 18.41%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the company earned $0.19 earnings per share. On average, analysts anticipate that Huntington Bancshares Incorporated will post $0.91 EPS for the current year.
Huntington Bancshares declared that its board has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $308.00 million in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 2.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 18th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.32 annualized dividend and a dividend yield of 2.43%. Huntington Bancshares’s dividend payout ratio is 46.38%.
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Several equities analysts recently commented on HBAN shares. Zacks Investment Research lowered Huntington Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, April 12th. FBR & Co reiterated a “mkt perform” rating and issued a $14.00 target price (down from $15.00) on shares of Huntington Bancshares in a research note on Thursday, April 20th. Piper Jaffray Companies reiterated a “neutral” rating and issued a $14.00 target price (down from $14.50) on shares of Huntington Bancshares in a research note on Saturday, April 22nd. BMO Capital Markets reiterated a “buy” rating and issued a $16.00 target price on shares of Huntington Bancshares in a research note on Friday, April 28th. Finally, Morgan Stanley dropped their target price on Huntington Bancshares from $14.00 to $13.75 and set an “equal weight” rating for the company in a research note on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. Huntington Bancshares currently has an average rating of “Buy” and an average price target of $14.90.
In related news, Director Richard W. Neu bought 2,450 shares of the business’s stock in a transaction on Friday, July 28th. The shares were bought at an average cost of $13.10 per share, for a total transaction of $32,095.00. Following the completion of the acquisition, the director now directly owns 184,596 shares in the company, valued at $2,418,207.60. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Andrew J. Harmening bought 15,490 shares of the business’s stock in a transaction on Monday, May 15th. The shares were bought at an average price of $12.92 per share, for a total transaction of $200,130.80. Following the completion of the acquisition, the executive vice president now owns 35,543 shares of the company’s stock, valued at $459,215.56. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 67,940 shares of company stock valued at $852,226. 1.30% of the stock is 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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