California State Teachers Retirement System increased its stake in Huntington Bancshares Inc. (NASDAQ:HBAN) by 36.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,362,385 shares of the company’s stock after buying an additional 635,276 shares during the period. California State Teachers Retirement System’s holdings in Huntington Bancshares were worth $23,293,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the company. Standard Life Investments LTD increased its stake in shares of Huntington Bancshares by 1.6% in the second quarter. Standard Life Investments LTD now owns 3,364,970 shares of the company’s stock worth $30,083,000 after buying an additional 54,249 shares in the last quarter. Retirement Systems of Alabama increased its stake in shares of Huntington Bancshares by 0.6% in the second quarter. Retirement Systems of Alabama now owns 407,274 shares of the company’s stock worth $3,641,000 after buying an additional 2,301 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake in shares of Huntington Bancshares by 0.3% in the second quarter. Cullen Frost Bankers Inc. now owns 316,997 shares of the company’s stock worth $2,834,000 after buying an additional 1,050 shares in the last quarter. Prospera Financial Services Inc acquired a new stake in shares of Huntington Bancshares during the second quarter worth approximately $198,000. Finally, PGGM Investments increased its stake in shares of Huntington Bancshares by 3.5% in the second quarter. PGGM Investments now owns 559,513 shares of the company’s stock worth $5,002,000 after buying an additional 19,156 shares in the last quarter. 68.76% of the stock is owned by institutional investors.
Shares of Huntington Bancshares Inc. (NASDAQ:HBAN) traded down 0.7106% during mid-day trading on Wednesday, reaching $13.3445. The company had a trading volume of 2,212,732 shares. Huntington Bancshares Inc. has a 52-week low of $7.83 and a 52-week high of $13.64. The company’s 50-day moving average price is $12.66 and its 200-day moving average price is $10.37. The company has a market capitalization of $14.48 billion, a PE ratio of 18.8482 and a beta of 1.22.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.01. Huntington Bancshares had a net margin of 18.87% and a return on equity of 10.97%. During the same period in the prior year, the firm earned $0.18 EPS. On average, analysts forecast that Huntington Bancshares Inc. will post $0.72 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 2nd. Shareholders of record on Tuesday, December 20th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.38%. This is an increase from Huntington Bancshares’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, December 16th. Huntington Bancshares’s dividend payout ratio is presently 45.07%.
A number of equities research analysts have recently commented on the company. Nomura raised Huntington Bancshares from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 30th. Wedbush lifted their price objective on Huntington Bancshares from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Wednesday, November 30th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $13.50 price objective on shares of Huntington Bancshares in a research report on Tuesday, December 6th. Macquarie raised Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $14.00 price objective for the company in a research report on Friday, December 9th. Finally, RBC Capital Markets reaffirmed a “buy” rating on shares of Huntington Bancshares in a research report on Saturday, December 17th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $12.02.
In other Huntington Bancshares news, insider Helga Houston sold 8,378 shares of the stock in a transaction on Tuesday, November 29th. The shares were sold at an average price of $12.33, for a total transaction of $103,300.74. Following the transaction, the insider now directly owns 311,219 shares of the company’s stock, valued at $3,837,330.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David S. Anderson sold 10,011 shares of the stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $10.60, for a total transaction of $106,116.60. Following the transaction, the executive vice president now directly owns 102,580 shares in the company, valued at $1,087,348. The disclosure for this sale can be found here. Company insiders own 1.65% of the company’s stock.
About Huntington Bancshares
Huntington Bancshares Incorporated is a diversified regional bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company is engaged in providing commercial, small business, consumer banking services, mortgage banking services, automobile financing, equipment leasing, investment management, trust services, brokerage services, customized insurance programs, and other financial products and services.
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