Rhumbline Advisers Buys 254,366 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Rhumbline Advisers boosted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBANGet Rating) by 11.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,496,020 shares of the bank’s stock after acquiring an additional 254,366 shares during the period. Rhumbline Advisers owned 0.17% of Huntington Bancshares worth $30,027,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Cetera Investment Advisers increased its stake in Huntington Bancshares by 6.6% during the 2nd quarter. Cetera Investment Advisers now owns 112,082 shares of the bank’s stock worth $1,348,000 after acquiring an additional 6,918 shares during the period. Cetera Advisor Networks LLC increased its stake in Huntington Bancshares by 32.2% during the 2nd quarter. Cetera Advisor Networks LLC now owns 129,880 shares of the bank’s stock worth $1,563,000 after acquiring an additional 31,644 shares during the period. Checchi Capital Advisers LLC increased its stake in Huntington Bancshares by 4.5% during the 2nd quarter. Checchi Capital Advisers LLC now owns 22,968 shares of the bank’s stock worth $305,000 after acquiring an additional 997 shares during the period. Magnus Financial Group LLC bought a new position in Huntington Bancshares during the 2nd quarter worth $120,000. Finally, O Shaughnessy Asset Management LLC increased its stake in Huntington Bancshares by 10.2% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 226,993 shares of the bank’s stock worth $2,731,000 after acquiring an additional 21,063 shares during the period. Institutional investors own 79.77% of the company’s stock.

Insider Activity

In other news, CFO Zachary Jacob Wasserman sold 28,055 shares of the business’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $15.44, for a total value of $433,169.20. Following the transaction, the chief financial officer now directly owns 140,060 shares of the company’s stock, valued at approximately $2,162,526.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Scott D. Kleinman sold 9,749 shares of the business’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $15.50, for a total value of $151,109.50. Following the completion of the sale, the vice president now directly owns 214,477 shares of the company’s stock, valued at approximately $3,324,393.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Zachary Jacob Wasserman sold 28,055 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $15.44, for a total value of $433,169.20. Following the completion of the sale, the chief financial officer now directly owns 140,060 shares of the company’s stock, valued at $2,162,526.40. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on HBAN shares. Royal Bank of Canada lifted their price target on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, November 11th. StockNews.com started coverage on Huntington Bancshares in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Morgan Stanley lifted their price target on Huntington Bancshares from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Friday, November 11th. Raymond James lifted their price target on Huntington Bancshares from $17.00 to $18.00 and gave the company a “strong-buy” rating in a research note on Monday, October 24th. Finally, Wedbush reiterated a “neutral” rating and issued a $14.00 price target on shares of Huntington Bancshares in a research note on Wednesday, September 28th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $15.69.

Huntington Bancshares Stock Up 0.1 %

Shares of HBAN opened at $15.17 on Thursday. The company has a market capitalization of $21.89 billion, a PE ratio of 11.76 and a beta of 1.13. Huntington Bancshares Incorporated has a 12 month low of $11.67 and a 12 month high of $17.79. The stock’s 50-day moving average price is $14.24 and its two-hundred day moving average price is $13.54. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.68.

Huntington Bancshares (NASDAQ:HBANGet Rating) last announced its earnings results on Friday, October 21st. The bank reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. Huntington Bancshares had a return on equity of 13.76% and a net margin of 27.34%. During the same quarter in the prior year, the firm posted $0.35 EPS. On average, analysts anticipate that Huntington Bancshares Incorporated will post 1.47 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Monday, December 19th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date is Friday, December 16th. Huntington Bancshares’s dividend payout ratio is 48.06%.

Huntington Bancshares Profile

(Get Rating)

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

See Also

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

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