Huntington Bancshares Inc. (HBAN) Shares Bought by State Treasurer State of Michigan
State Treasurer State of Michigan boosted its stake in shares of Huntington Bancshares Inc. (NASDAQ:HBAN) by 36.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 378,887 shares of the company’s stock after buying an additional 101,401 shares during the period. State Treasurer State of Michigan’s holdings in Huntington Bancshares were worth $3,736,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Brown Advisory Securities LLC raised its position 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 during the period. Aspiriant LLC acquired a new position in shares of Huntington Bancshares during the second quarter worth about $102,000. Aspen Investment Management Inc acquired a new position in shares of Huntington Bancshares during the second quarter worth about $102,000. Savant Capital LLC acquired a new position in shares of Huntington Bancshares during the third quarter worth about $102,000. Finally, Schmidt P J Investment Management Inc. acquired a new position in shares of Huntington Bancshares during the third quarter worth about $104,000. 68.80% of the stock is owned by hedge funds and other institutional investors.
Huntington Bancshares Inc. (NASDAQ:HBAN) traded up 0.16% during trading on Tuesday, reaching $12.28. 12,097,923 shares of the company’s stock traded hands. The firm has a market cap of $13.32 billion, a PE ratio of 17.34 and a beta of 1.16. The firm has a 50 day moving average price of $10.90 and a 200-day moving average price of $9.95. Huntington Bancshares Inc. has a 12 month low of $7.83 and a 12 month high of $12.68.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Huntington Bancshares had a net margin of 18.87% and a return on equity of 10.97%. During the same quarter in the previous year, the business earned $0.18 EPS. On average, analysts forecast that Huntington Bancshares Inc. will post $0.73 earnings per share for the current fiscal year.
The company also recently declared 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 2.61%. This is a boost from Huntington Bancshares’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, December 16th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 39.44%.
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HBAN has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, September 21st. Deutsche Bank AG upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and upped their target price for the stock from $10.50 to $11.50 in a research report on Wednesday, September 28th. FBR & Co downgraded Huntington Bancshares from an “outperform” rating to a “market perform” rating and set a $11.00 target price for the company. in a research report on Tuesday, October 11th. Jefferies Group restated a “buy” rating on shares of Huntington Bancshares in a research report on Thursday, August 4th. Finally, Wedbush upped their target price on Huntington Bancshares from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Thursday, October 27th. Twelve research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Huntington Bancshares currently has an average rating of “Hold” and an average target price of $11.41.
In related 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 value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of 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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