Investment Management of Virginia LLC Purchases Shares of 215,156 Huntington Bancshares Inc. (HBAN)
Investment Management of Virginia LLC purchased a new stake in shares of Huntington Bancshares Inc. (NASDAQ:HBAN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 215,156 shares of the company’s stock, valued at approximately $2,121,000.
Several other hedge funds have also bought and sold shares of the stock. Brown Advisory Securities LLC boosted its stake in Huntington Bancshares by 2.1% in the second quarter. Brown Advisory Securities LLC now owns 11,106 shares of the company’s stock valued at $101,000 after buying an additional 229 shares in the last quarter. Aspen Investment Management Inc acquired a new stake in Huntington Bancshares during the second quarter valued at approximately $102,000. Aspiriant LLC acquired a new stake in Huntington Bancshares during the second quarter valued at approximately $102,000. North Star Asset Management Inc. acquired a new stake in Huntington Bancshares during the third quarter valued at approximately $123,000. Finally, Robecosam AG acquired a new stake in Huntington Bancshares during the first quarter valued at approximately $125,000. 68.80% of the stock is owned by institutional investors and hedge funds.
Shares of Huntington Bancshares Inc. (NASDAQ:HBAN) traded down 2.39% on Monday, hitting $12.26. The company’s stock had a trading volume of 11,444,902 shares. The stock has a market capitalization of $13.30 billion, a P/E ratio of 17.32 and a beta of 1.16. Huntington Bancshares Inc. has a 52 week low of $7.83 and a 52 week high of $12.68. The stock’s 50 day moving average price is $10.90 and its 200 day moving average price is $9.95.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. Huntington Bancshares had a return on equity of 10.97% and a net margin of 18.87%. During the same quarter in the prior year, the firm posted $0.18 earnings per share. On average, analysts forecast that Huntington Bancshares Inc. will post $0.73 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 2nd. Stockholders of record on Tuesday, December 20th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Friday, December 16th. This is an increase from Huntington Bancshares’s previous quarterly dividend of $0.07. Huntington Bancshares’s dividend payout ratio is 39.44%.
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Several analysts have recently commented on the company. Jefferies Group cut Huntington Bancshares from a “buy” rating to a “hold” rating and raised their price target for the company from $12.00 to $14.00 in a report on Monday. Macquarie raised Huntington Bancshares from a “neutral” rating to an “outperform” rating and raised their price target for the company from $12.44 to $14.00 in a report on Tuesday, November 22nd. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Huntington Bancshares in a research note on Saturday, November 19th. Wedbush assumed coverage on Huntington Bancshares in a research note on Thursday, October 6th. They issued an “outperform” rating and a $12.00 price objective for the company. Finally, Zacks Investment Research raised Huntington Bancshares from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Wednesday, November 2nd. Twelve equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Huntington Bancshares currently has an average rating of “Hold” and a consensus target price of $11.41.
In other Huntington Bancshares news, insider Sandra E. Pierce sold 52,994 shares of the business’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $11.62, for a total transaction of $615,790.28. Following the sale, the insider now directly owns 495,651 shares of the company’s stock, valued at approximately $5,759,464.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David S. Anderson sold 10,011 shares of the business’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $10.60, for a total transaction of $106,116.60. Following the sale, the executive vice president now directly owns 102,580 shares in the company, valued at $1,087,348. The disclosure for this sale can be found here. Insiders own 1.65% of the company’s stock.
Huntington Bancshares Company Profile
Huntington Bancshares Incorporated is a diversified regional bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company is engaged in providing commercial, small business, consumer banking services, mortgage banking services, automobile financing, equipment leasing, investment management, trust services, brokerage services, customized insurance programs, and other financial products and services.
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