Franklin Resources Inc. Holds Stake in Huntington Bancshares Incorporated (HBAN)

Franklin Resources Inc. maintained its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,886,660 shares of the bank’s stock at the close of the 2nd quarter. Franklin Resources Inc. owned 0.17% of Huntington Bancshares worth $25,507,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in shares of Huntington Bancshares by 6.5% in the 1st quarter. Wellington Management Group LLP now owns 18,405,607 shares of the bank’s stock worth $246,451,000 after purchasing an additional 1,121,927 shares during the period. Algebris Investments UK LLP raised its holdings in shares of Huntington Bancshares by 617.8% in the 1st quarter. Algebris Investments UK LLP now owns 567,800 shares of the bank’s stock worth $7,603,000 after purchasing an additional 488,700 shares during the period. First National Bank of Omaha raised its holdings in shares of Huntington Bancshares by 0.6% in the 2nd quarter. First National Bank of Omaha now owns 312,098 shares of the bank’s stock worth $4,219,000 after purchasing an additional 1,844 shares during the period. Budros Ruhlin & Roe Inc. raised its holdings in shares of Huntington Bancshares by 57.9% in the 2nd quarter. Budros Ruhlin & Roe Inc. now owns 42,263 shares of the bank’s stock worth $571,000 after purchasing an additional 15,501 shares during the period. Finally, IBM Retirement Fund raised its holdings in shares of Huntington Bancshares by 121.4% in the 2nd quarter. IBM Retirement Fund now owns 26,505 shares of the bank’s stock worth $401,000 after purchasing an additional 14,533 shares during the period. 74.14% of the stock is currently owned by institutional investors.

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A number of equities research analysts recently commented on HBAN shares. Hilliard Lyons raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $14.00 to $15.00 in a report on Monday, July 24th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $16.00 price target on shares of Huntington Bancshares in a report on Thursday, July 27th. BMO Capital Markets reaffirmed a “buy” rating and issued a $16.00 price target on shares of Huntington Bancshares in a report on Friday, June 9th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Huntington Bancshares in a report on Monday, July 3rd. Finally, Instinet reaffirmed a “buy” rating and issued a $16.00 price target (up previously from $15.00) on shares of Huntington Bancshares in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $15.01.

Huntington Bancshares Incorporated (NASDAQ:HBAN) opened at 13.25 on Wednesday. The stock’s 50 day moving average is $12.83 and its 200-day moving average is $13.10. The stock has a market capitalization of $14.44 billion, a price-to-earnings ratio of 18.35 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 announced its quarterly earnings data on Friday, July 21st. The bank reported $0.26 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 the consensus estimate of $1.07 billion. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. During the same period last year, the firm earned $0.19 EPS. Equities research analysts anticipate that Huntington Bancshares Incorporated will post $0.92 EPS for the current fiscal year.

The company also recently disclosed 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 annualized dividend and a dividend yield of 2.42%. Huntington Bancshares’s payout ratio is 46.38%.

Huntington Bancshares announced that its Board of Directors has approved a stock buyback plan on Wednesday, June 28th that permits the company to buyback $308.00 million in outstanding shares. This buyback authorization permits the bank to repurchase up to 2.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In other news, EVP Nicholas G. Stanutz sold 16,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $12.71, for a total transaction of $203,360.00. Following the sale, the executive vice president now directly owns 447,722 shares in the company, valued at approximately $5,690,546.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard W. Neu acquired 2,450 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were purchased at an average price of $13.10 per share, for a total transaction of $32,095.00. Following the completion of the transaction, the director now directly owns 184,596 shares in the company, valued at $2,418,207.60. The disclosure for this purchase can be found here. 1.30% of the stock is owned by company insiders.

About Huntington Bancshares

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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Institutional Ownership by Quarter for Huntington Bancshares (NASDAQ:HBAN)

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