Vaughan Nelson Investment Management L.P. Takes Position in Huntington Bancshares Incorporated $HBAN

Vaughan Nelson Investment Management L.P. purchased a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,411,002 shares of the bank’s stock, valued at approximately $22,082,000.

A number of other institutional investors also recently added to or reduced their stakes in HBAN. Vanguard Group Inc. boosted its holdings in shares of Huntington Bancshares by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock valued at $3,319,385,000 after buying an additional 14,338,222 shares in the last quarter. State Street Corp raised its stake in shares of Huntington Bancshares by 4.7% during the 4th quarter. State Street Corp now owns 77,228,656 shares of the bank’s stock worth $1,351,806,000 after acquiring an additional 3,438,501 shares in the last quarter. Wellington Management Group LLP lifted its position in Huntington Bancshares by 4,265.5% during the fourth quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock valued at $1,215,955,000 after acquiring an additional 68,478,435 shares during the last quarter. Boston Partners lifted its position in Huntington Bancshares by 3.9% during the third quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock valued at $1,091,615,000 after acquiring an additional 2,363,905 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Huntington Bancshares by 6.6% in the fourth quarter. Invesco Ltd. now owns 62,971,849 shares of the bank’s stock valued at $1,092,562,000 after acquiring an additional 3,908,927 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

Shares of HBAN opened at $17.05 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. The company’s fifty day moving average price is $16.41 and its 200-day moving average price is $16.87. Huntington Bancshares Incorporated has a 1-year low of $14.89 and a 1-year high of $19.45. The firm has a market capitalization of $34.56 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 0.77 and a beta of 0.94.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The company had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the business posted $0.34 EPS. On average, equities research analysts predict that Huntington Bancshares Incorporated will post 1.61 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares’s payout ratio is 47.69%.

Insider Activity at Huntington Bancshares

In other news, Director James D. Rollins III sold 223,522 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $17.35, for a total value of $3,878,106.70. Following the sale, the director owned 612,155 shares in the company, valued at $10,620,889.25. This represents a 26.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought a total of 33,500 shares of company stock valued at $617,542 in the last quarter. 0.67% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HBAN. DA Davidson reduced their price target on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. Weiss Ratings cut Huntington Bancshares from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday. The Goldman Sachs Group dropped their target price on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Jefferies Financial Group upped their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Finally, Wolfe Research lowered their price target on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.05.

Huntington Bancshares Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.