Summit X LLC bought a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,446 shares of the bank’s stock, valued at approximately $287,000.
Several other hedge funds also recently bought and sold shares of HBAN. BlackRock Inc. raised its holdings in Huntington Bancshares by 1.9% in the 1st quarter. BlackRock Inc. now owns 69,694,457 shares of the bank’s stock valued at $1,052,386,000 after buying an additional 1,291,094 shares during the last quarter. Boston Partners raised its holdings in Huntington Bancshares by 2.2% in the 2nd quarter. Boston Partners now owns 30,774,781 shares of the bank’s stock valued at $454,236,000 after buying an additional 648,176 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Huntington Bancshares by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,392,637 shares of the bank’s stock valued at $182,931,000 after buying an additional 363,049 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Huntington Bancshares by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,572,871 shares of the bank’s stock valued at $126,536,000 after buying an additional 61,039 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Huntington Bancshares by 0.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,986,065 shares of the bank’s stock valued at $103,114,000 after buying an additional 27,184 shares during the last quarter. 73.75% of the stock is owned by hedge funds and other institutional investors.
HBAN has been the subject of a number of research reports. BidaskClub upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating in a report on Wednesday, June 6th. Zacks Investment Research upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Tuesday, July 17th. Piper Jaffray Companies reiterated a “buy” rating and issued a $16.50 price objective on shares of Huntington Bancshares in a report on Thursday, July 26th. Jefferies Financial Group raised their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, August 8th. Finally, Morgan Stanley reiterated a “hold” rating and issued a $17.50 price objective (down previously from $17.75) on shares of Huntington Bancshares in a report on Tuesday, September 18th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $17.25.
NASDAQ:HBAN opened at $15.77 on Tuesday. The company has a market cap of $17.61 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 0.88 and a beta of 1.33. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.90. Huntington Bancshares Incorporated has a fifty-two week low of $13.04 and a fifty-two week high of $16.60.
Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Wednesday, July 25th. The bank reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.13 billion. Huntington Bancshares had a net margin of 27.90% and a return on equity of 12.93%. During the same quarter in the prior year, the firm posted $0.26 EPS. sell-side analysts expect that Huntington Bancshares Incorporated will post 1.24 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Monday, September 17th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend is Friday, September 14th. This is an increase from Huntington Bancshares’s previous quarterly dividend of $0.11. Huntington Bancshares’s dividend payout ratio is currently 57.14%.
Huntington Bancshares Profile
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company's Consumer and Business Banking segment offers financial products and services, such as checking accounts, savings accounts, money market accounts, certificates of deposit, consumer loans, and small business loans; and investments, mortgages, insurance, interest rate risk protection, and foreign exchange and treasury management services.
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