American International Group Inc. cut its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 14.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 367,785 shares of the bank’s stock after selling 60,267 shares during the period. American International Group Inc.’s holdings in Huntington Bancshares were worth $5,134,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. Sun Life Financial INC lifted its holdings in shares of Huntington Bancshares by 99,812.5% in the second quarter. Sun Life Financial INC now owns 7,993 shares of the bank’s stock worth $108,000 after acquiring an additional 7,985 shares during the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of Huntington Bancshares in the second quarter worth about $134,000. Verition Fund Management LLC bought a new position in shares of Huntington Bancshares in the second quarter worth about $139,000. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Huntington Bancshares by 8.7% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 10,382 shares of the bank’s stock worth $140,000 after acquiring an additional 834 shares during the last quarter. Finally, Alpha Cubed Investments LLC bought a new position in shares of Huntington Bancshares in the third quarter worth about $151,000. Institutional investors and hedge funds own 73.77% of the company’s stock.
In related news, insider Helga Houston sold 14,513 shares of Huntington Bancshares stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $13.77, for a total value of $199,844.01. Following the completion of the sale, the insider now owns 499,824 shares of the company’s stock, valued at approximately $6,882,576.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Daniel J. Neumeyer sold 43,491 shares of Huntington Bancshares stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $13.88, for a total transaction of $603,655.08. Following the completion of the sale, the executive vice president now directly owns 427,270 shares of the company’s stock, valued at approximately $5,930,507.60. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Wednesday, October 25th. The bank reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.10 billion. Huntington Bancshares had a net margin of 20.76% and a return on equity of 11.96%. During the same period in the prior year, the company posted $0.11 EPS. equities research analysts forecast that Huntington Bancshares Incorporated will post 0.97 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 18th will be given a dividend of $0.11 per share. This is an increase from Huntington Bancshares’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, December 15th. This represents a $0.44 annualized dividend and a dividend yield of 2.99%. Huntington Bancshares’s dividend payout ratio (DPR) is 38.55%.
A number of research firms have recently commented on HBAN. Keefe, Bruyette & Woods set a $14.00 target price on shares of Huntington Bancshares and gave the stock a “hold” rating in a report on Friday, August 11th. Piper Jaffray Companies upgraded shares of Huntington Bancshares from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $14.00 to $15.00 in a report on Friday, August 11th. BMO Capital Markets lowered shares of Huntington Bancshares from an “outperform” rating to a “market perform” rating and set a $16.00 price objective for the company. in a report on Thursday, October 26th. FBR & Co reiterated a “hold” rating and issued a $14.00 price objective on shares of Huntington Bancshares in a report on Thursday, October 26th. Finally, JMP Securities began coverage on shares of Huntington Bancshares in a report on Thursday, August 31st. They issued an “outperform” rating and a $15.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $15.24.
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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