Keybank National Association OH lessened its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 28.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 150,960 shares of the bank’s stock after selling 59,773 shares during the period. Keybank National Association OH’s holdings in Huntington Bancshares were worth $2,041,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. OMERS ADMINISTRATION Corp acquired a new stake in Huntington Bancshares in the 2nd quarter valued at approximately $1,329,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Huntington Bancshares by 4.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 116,144 shares of the bank’s stock worth $1,570,000 after acquiring an additional 5,223 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Huntington Bancshares by 14.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 763,476 shares of the bank’s stock worth $10,322,000 after acquiring an additional 97,590 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Huntington Bancshares by 8.4% in the second quarter. Pacer Advisors Inc. now owns 21,897 shares of the bank’s stock worth $296,000 after acquiring an additional 1,693 shares in the last quarter. Finally, Utah Retirement Systems grew its stake in shares of Huntington Bancshares by 0.7% in the second quarter. Utah Retirement Systems now owns 197,748 shares of the bank’s stock worth $2,673,000 after acquiring an additional 1,300 shares in the last quarter. Hedge funds and other institutional investors own 74.16% of the company’s stock.
Huntington Bancshares Incorporated (NASDAQ HBAN) opened at 12.76 on Friday. The firm’s 50-day moving average is $12.83 and its 200-day moving average is $13.13. Huntington Bancshares Incorporated has a 1-year low of $9.52 and a 1-year high of $14.74. The stock has a market cap of $13.91 billion, a P/E ratio of 17.67 and a beta of 1.37.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.03. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Huntington Bancshares had a net margin of 25.40% and a return on equity of 10.70%. During the same quarter in the previous year, the firm posted $0.19 EPS. On average, analysts forecast that Huntington Bancshares Incorporated will post $0.92 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.51%. The ex-dividend date is Friday, September 15th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 46.38%.
Huntington Bancshares declared that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that authorizes the company to buyback $308.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 2.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
In other news, 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 value of $203,360.00. Following the sale, the executive vice president now owns 447,722 shares of the company’s stock, valued at approximately $5,690,546.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard W. Neu bought 2,450 shares of the stock in a transaction dated Friday, July 28th. The stock was purchased at an average cost of $13.10 per share, for a total transaction of $32,095.00. Following the acquisition, the director now owns 184,596 shares in the company, valued at approximately $2,418,207.60. The disclosure for this purchase can be found here. Insiders own 1.30% of the company’s stock.
Several research firms have recently issued reports on HBAN. Deutsche Bank AG reaffirmed a “buy” rating on shares of Huntington Bancshares in a research report on Monday, July 3rd. Royal Bank Of Canada reissued a “buy” rating and issued a $16.00 price target on shares of Huntington Bancshares in a research report on Friday, September 8th. JMP Securities initiated coverage on shares of Huntington Bancshares in a research report on Thursday, August 31st. They issued an “outperform” rating and a $15.00 price target for the company. Sanford C. Bernstein raised shares of Huntington Bancshares from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $15.00 to $17.00 in a research report on Thursday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $15.00 target price (down from $16.00) on shares of Huntington Bancshares in a report on Friday, July 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $15.01.
Huntington Bancshares Company 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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