Andra AP fonden grew its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.7% during the third quarter, HoldingsChannel reports. The firm owned 525,700 shares of the bank’s stock after acquiring an additional 23,500 shares during the quarter. Andra AP fonden’s holdings in Huntington Bancshares were worth $7,843,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. BB&T Securities LLC lifted its stake in Huntington Bancshares by 17.1% during the second quarter. BB&T Securities LLC now owns 503,620 shares of the bank’s stock worth $7,432,000 after purchasing an additional 73,711 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Huntington Bancshares by 1.5% during the second quarter. PNC Financial Services Group Inc. now owns 3,328,824 shares of the bank’s stock worth $49,134,000 after purchasing an additional 50,318 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Huntington Bancshares by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 12,392,637 shares of the bank’s stock worth $182,931,000 after acquiring an additional 363,049 shares during the period. Cadence Capital Management LLC increased its position in shares of Huntington Bancshares by 27.7% during the second quarter. Cadence Capital Management LLC now owns 161,551 shares of the bank’s stock worth $2,384,000 after acquiring an additional 35,045 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Huntington Bancshares by 5.3% during the second quarter. Victory Capital Management Inc. now owns 463,579 shares of the bank’s stock worth $6,842,000 after acquiring an additional 23,220 shares during the period. Institutional investors own 73.79% of the company’s stock.
A number of analysts have recently weighed in on HBAN shares. BidaskClub lowered Huntington Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Zacks Investment Research raised Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Tuesday, July 17th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $16.50 price objective on shares of Huntington Bancshares in a research report on Thursday, July 26th. Jefferies Financial Group upped their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Finally, Morgan Stanley reaffirmed a “hold” rating and set a $17.50 price objective (down previously from $17.75) on shares of Huntington Bancshares in a research report on Tuesday, September 18th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $17.25.
Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Wednesday, July 25th. The bank reported $0.30 EPS for the quarter, beating the consensus estimate of $0.29 by $0.01. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.13 billion. Huntington Bancshares had a return on equity of 12.93% and a net margin of 27.90%. During the same quarter in the prior year, the company posted $0.26 earnings per share. Analysts predict that Huntington Bancshares Incorporated will post 1.24 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Tuesday, December 18th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.94%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 57.14%.
In related news, EVP Richard Remiker sold 5,254 shares of the stock in a transaction on Monday, July 30th. The stock was sold at an average price of $15.55, for a total value of $81,699.70. Following the transaction, the executive vice president now owns 321,462 shares of the company’s stock, valued at $4,998,734.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Howell D. Mccullough III sold 68,777 shares of the stock in a transaction on Friday, August 24th. The shares were sold at an average price of $16.17, for a total value of $1,112,124.09. Following the completion of the transaction, the chief financial officer now directly owns 720,413 shares in the company, valued at approximately $11,649,078.21. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.
About Huntington Bancshares
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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