Several other large investors have also added to or reduced their stakes in HBAN. BlackRock Inc. boosted its stake in Huntington Bancshares by 2,879.7% in the first quarter. BlackRock Inc. now owns 68,761,543 shares of the bank’s stock worth $920,719,000 after buying an additional 66,453,890 shares during the period. FMR LLC boosted its stake in Huntington Bancshares by 21.4% in the first quarter. FMR LLC now owns 98,004,607 shares of the bank’s stock worth $1,312,281,000 after buying an additional 17,263,771 shares during the period. Boston Partners boosted its stake in Huntington Bancshares by 29.5% in the first quarter. Boston Partners now owns 34,218,873 shares of the bank’s stock worth $458,191,000 after buying an additional 7,804,639 shares during the period. Vanguard Group Inc. boosted its stake in Huntington Bancshares by 3.8% in the first quarter. Vanguard Group Inc. now owns 107,431,420 shares of the bank’s stock worth $1,438,506,000 after buying an additional 3,937,628 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in Huntington Bancshares by 69.0% in the first quarter. TIAA CREF Investment Management LLC now owns 9,632,505 shares of the bank’s stock worth $128,979,000 after buying an additional 3,932,611 shares during the period. 75.26% of the stock is currently owned by institutional investors.
Ferguson Wellman Capital Management Inc. lowered its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 62,430 shares of the bank’s stock after selling 790 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Huntington Bancshares were worth $844,000 at the end of the most recent reporting period.
Huntington Bancshares Incorporated (NASDAQ:HBAN) opened at 13.32 on Wednesday. Huntington Bancshares Incorporated has a 52-week low of $9.23 and a 52-week high of $14.74. The firm has a market cap of $14.52 billion, a price-to-earnings ratio of 18.45 and a beta of 1.37. The firm has a 50-day moving average of $13.38 and a 200 day moving average of $13.33.
Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, July 21st. The bank reported $0.26 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business earned $0.19 earnings per share. On average, equities research analysts forecast that Huntington Bancshares Incorporated will post $0.92 earnings per share for the current year.
Huntington Bancshares declared that its Board of Directors has authorized a stock buyback plan on Wednesday, June 28th that allows the company to repurchase $308.00 million in outstanding shares. This repurchase authorization allows the bank to purchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 18th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.40%. Huntington Bancshares’s payout ratio is 46.38%.
A number of equities research analysts have recently weighed in on HBAN shares. Deutsche Bank AG reaffirmed a “buy” rating on shares of Huntington Bancshares in a report on Monday, July 3rd. BidaskClub lowered shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Piper Jaffray Companies reiterated a “neutral” rating and set a $14.00 price objective (down previously from $14.50) on shares of Huntington Bancshares in a research note on Saturday, April 22nd. Zacks Investment Research upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Tuesday, April 11th. Finally, Instinet reiterated a “buy” rating and set a $16.00 price objective (up previously from $15.00) on shares of Huntington Bancshares in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $14.90.
In other Huntington Bancshares news, Director Richard W. Neu acquired 2,450 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were acquired at an average cost of $13.10 per share, for a total transaction of $32,095.00. Following the completion of the acquisition, the director now directly owns 184,596 shares of the company’s stock, valued at approximately $2,418,207.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephen D. Steinour acquired 50,000 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was acquired at an average price of $12.40 per share, for a total transaction of $620,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,891,831 shares of the company’s stock, valued at $48,258,704.40. The disclosure for this purchase can be found here. Insiders have bought 67,940 shares of company stock worth $852,226 over the last quarter. 1.30% of the stock is owned by company insiders.
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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