Comerica Bank Acquires 24,552 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

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Comerica Bank grew its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 9.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 280,373 shares of the bank’s stock after purchasing an additional 24,552 shares during the period. Comerica Bank’s holdings in Huntington Bancshares were worth $4,017,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Private Trust Co. NA lifted its position in Huntington Bancshares by 100.7% during the 2nd quarter. Private Trust Co. NA now owns 42,998 shares of the bank’s stock worth $594,000 after buying an additional 21,573 shares in the last quarter. Macnealy Hoover Investment Management Inc. lifted its position in Huntington Bancshares by 3.9% during the 2nd quarter. Macnealy Hoover Investment Management Inc. now owns 165,759 shares of the bank’s stock worth $2,291,000 after buying an additional 6,280 shares in the last quarter. Zions Bancorporation N.A. lifted its position in Huntington Bancshares by 8.5% during the 2nd quarter. Zions Bancorporation N.A. now owns 71,984 shares of the bank’s stock worth $995,000 after buying an additional 5,646 shares in the last quarter. Xact Kapitalforvaltning AB raised its holdings in shares of Huntington Bancshares by 5.7% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 223,339 shares of the bank’s stock valued at $3,087,000 after purchasing an additional 12,136 shares during the period. Finally, Smith Salley & Associates raised its holdings in shares of Huntington Bancshares by 89.6% in the 2nd quarter. Smith Salley & Associates now owns 193,899 shares of the bank’s stock valued at $2,680,000 after purchasing an additional 91,632 shares during the period. 75.61% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently issued reports on the stock. DA Davidson cut shares of Huntington Bancshares from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a report on Friday, September 13th. They noted that the move was a valuation call. Raymond James reaffirmed a “buy” rating and issued a $16.00 target price on shares of Huntington Bancshares in a report on Friday, October 25th. BidaskClub raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Monday, September 2nd. ValuEngine raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, Nomura set a $14.00 target price on shares of Huntington Bancshares and gave the company a “hold” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $15.20.

In other news, EVP Rajeev Syal sold 25,167 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $14.50, for a total transaction of $364,921.50. Following the completion of the transaction, the executive vice president now owns 182,143 shares of the company’s stock, valued at $2,641,073.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Helga Houston sold 14,055 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $14.23, for a total transaction of $200,002.65. Following the transaction, the insider now directly owns 474,498 shares of the company’s stock, valued at approximately $6,752,106.54. The disclosure for this sale can be found here. Insiders sold 85,964 shares of company stock worth $1,247,099 in the last 90 days. Company insiders own 1.22% of the company’s stock.

Shares of HBAN stock opened at $14.98 on Friday. Huntington Bancshares Incorporated has a 52-week low of $11.12 and a 52-week high of $15.16. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.90 and a current ratio of 0.91. The stock has a market cap of $15.36 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 2.80 and a beta of 1.45. The firm’s 50-day moving average is $14.25 and its 200-day moving average is $13.70.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, October 24th. The bank reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. Huntington Bancshares had a net margin of 25.24% and a return on equity of 13.83%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the business posted $0.33 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. Sell-side analysts predict that Huntington Bancshares Incorporated will post 1.3 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.60 dividend on an annualized basis and a yield of 4.01%. Huntington Bancshares’s dividend payout ratio is currently 50.00%.

Huntington Bancshares Profile

Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).

Further Reading: What is the Moving Average Convergence Divergence (MACD) oscillator?

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Institutional Ownership by Quarter for Huntington Bancshares (NASDAQ:HBAN)

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