Valley National Advisers Inc. Raises Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Valley National Advisers Inc. grew its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 73.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,736 shares of the bank’s stock after acquiring an additional 3,265 shares during the period. Valley National Advisers Inc.’s holdings in Huntington Bancshares were worth $107,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of HBAN. Vanguard Group Inc. boosted its position in Huntington Bancshares by 0.7% during the third quarter. Vanguard Group Inc. now owns 172,069,244 shares of the bank’s stock worth $1,789,520,000 after purchasing an additional 1,209,264 shares in the last quarter. Boston Partners grew its stake in Huntington Bancshares by 59.3% in the 4th quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock valued at $593,408,000 after acquiring an additional 17,365,446 shares during the last quarter. Norges Bank purchased a new position in Huntington Bancshares during the 4th quarter valued at about $206,703,000. Dimensional Fund Advisors LP raised its position in Huntington Bancshares by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,130,774 shares of the bank’s stock worth $192,473,000 after acquiring an additional 765,070 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Huntington Bancshares by 39.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock valued at $83,124,000 after purchasing an additional 1,838,019 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Transactions at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total transaction of $409,800.00. Following the sale, the chief financial officer now directly owns 305,884 shares in the company, valued at approximately $4,178,375.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Helga Houston sold 7,278 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $13.64, for a total transaction of $99,271.92. Following the completion of the sale, the insider now directly owns 648,904 shares in the company, valued at $8,851,050.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 30,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total value of $409,800.00. Following the completion of the transaction, the chief financial officer now owns 305,884 shares in the company, valued at approximately $4,178,375.44. The disclosure for this sale can be found here. Insiders sold 157,829 shares of company stock valued at $2,148,623 over the last quarter. Company insiders own 0.92% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on HBAN shares. Jefferies Financial Group dropped their price objective on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday. Evercore ISI reduced their price objective on Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Morgan Stanley dropped their price objective on Huntington Bancshares from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, June 12th. JPMorgan Chase & Co. decreased their price target on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Finally, UBS Group cut their price objective on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, June 13th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average target price of $14.97.

Huntington Bancshares Trading Down 1.3 %

Shares of NASDAQ HBAN traded down $0.17 during midday trading on Wednesday, hitting $13.04. The stock had a trading volume of 8,233,081 shares, compared to its average volume of 16,994,334. The company has a fifty day moving average price of $13.39 and a 200 day moving average price of $13.16. The company has a market capitalization of $18.90 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 2.49 and a beta of 1.06. Huntington Bancshares Incorporated has a 1-year low of $9.25 and a 1-year high of $14.30. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the firm earned $0.38 earnings per share. On average, analysts predict that Huntington Bancshares Incorporated will post 1.18 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 17th were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date of this dividend was Monday, June 17th. Huntington Bancshares’s dividend payout ratio is presently 55.86%.

Huntington Bancshares Profile

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 offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.