HPM Partners LLC grew its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 3.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 212,052 shares of the bank’s stock after buying an additional 6,657 shares during the period. HPM Partners LLC’s holdings in Huntington Bancshares were worth $4,341,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Systematic Financial Management LP raised its position in shares of Huntington Bancshares by 140.2% in the second quarter. Systematic Financial Management LP now owns 20,900 shares of the bank’s stock valued at $283,000 after buying an additional 12,200 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Huntington Bancshares by 10.8% in the second quarter. Wells Fargo & Company MN now owns 7,422,603 shares of the bank’s stock valued at $100,354,000 after buying an additional 724,176 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Huntington Bancshares in the second quarter valued at about $535,000. Schroder Investment Management Group acquired a new stake in shares of Huntington Bancshares in the second quarter valued at about $227,000. Finally, IFM Investors Pty Ltd acquired a new stake in shares of Huntington Bancshares in the second quarter valued at about $614,000. Institutional investors and hedge funds own 74.16% of the company’s stock.
A number of brokerages have recently commented on HBAN. Keefe, Bruyette & Woods set a $14.00 target price on shares of Huntington Bancshares and gave the company a “hold” rating in a research report on Friday, August 11th. BidaskClub cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Piper Jaffray Companies upgraded shares of Huntington Bancshares from a “neutral” rating to an “overweight” rating and increased their target price for the company from $14.00 to $15.00 in a research report on Friday, August 11th. JMP Securities began coverage on shares of Huntington Bancshares in a research report on Thursday, August 31st. They issued an “outperform” rating and a $15.00 target price for the company. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $16.00 target price on shares of Huntington Bancshares in a research report on Friday, June 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $14.96.
Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) traded up 1.72% on Friday, reaching $12.39. 2,471,045 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $12.92 and its 200-day moving average price is $13.19. The stock has a market capitalization of $13.51 billion, a price-to-earnings ratio of 17.16 and a beta of 1.37. Huntington Bancshares Incorporated has a 52 week low of $9.52 and a 52 week high of $14.74.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Friday, July 21st. The bank reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.03. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the company posted $0.19 EPS. Equities analysts predict that Huntington Bancshares Incorporated will post $0.92 EPS for the current year.
Huntington Bancshares declared that its board has approved a share buyback plan on Wednesday, June 28th that authorizes the company to buyback $308.00 million in shares. This buyback authorization authorizes the bank to reacquire up to 2.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 18th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Friday, September 15th. Huntington Bancshares’s dividend payout ratio is currently 46.38%.
In related news, Director Richard W. Neu acquired 2,450 shares of the company’s stock in a transaction dated Friday, July 28th. The stock was bought at an average price of $13.10 per share, with a total value of $32,095.00. Following the purchase, the director now directly owns 184,596 shares in the company, valued at approximately $2,418,207.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nicholas G. Stanutz sold 16,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $12.71, for a total transaction of $203,360.00. Following the transaction, the executive vice president now directly owns 447,722 shares of the company’s stock, valued at approximately $5,690,546.62. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
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Huntington Bancshares Profile
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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