Huntington Bancshares Incorporated (HBAN) Shares Sold by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA cut its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 34.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 518,346 shares of the bank’s stock after selling 269,600 shares during the period. BNP Paribas Arbitrage SA’s holdings in Huntington Bancshares were worth $7,008,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in Huntington Bancshares by 16.6% in the first quarter. Russell Investments Group Ltd. now owns 4,818,006 shares of the bank’s stock worth $64,511,000 after buying an additional 685,213 shares during the period. Paragon Capital Management Ltd bought a new stake in Huntington Bancshares during the first quarter worth about $181,000. Janney Montgomery Scott LLC raised its stake in Huntington Bancshares by 12.2% in the first quarter. Janney Montgomery Scott LLC now owns 223,004 shares of the bank’s stock worth $2,986,000 after buying an additional 24,193 shares during the period. Independent Portfolio Consultants Inc. raised its stake in Huntington Bancshares by 7.0% in the first quarter. Independent Portfolio Consultants Inc. now owns 11,675 shares of the bank’s stock worth $156,000 after buying an additional 760 shares during the period. Finally, Korea Investment CORP raised its stake in Huntington Bancshares by 295.1% in the first quarter. Korea Investment CORP now owns 853,264 shares of the bank’s stock worth $11,425,000 after buying an additional 637,283 shares during the period. 74.54% of the stock is owned by institutional investors and hedge funds.
Huntington Bancshares Incorporated (NASDAQ:HBAN) opened at 12.67 on Thursday. The firm’s 50-day moving average price is $13.27 and its 200 day moving average price is $13.28. Huntington Bancshares Incorporated has a one year low of $9.49 and a one year high of $14.74. The firm has a market cap of $13.81 billion, a P/E ratio of 17.55 and a beta of 1.37.
Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, July 21st. The bank reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.03. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Huntington Bancshares had a return on equity of 11.39% and a net margin of 18.41%. During the same period last year, the company posted $0.19 earnings per share. On average, equities research analysts forecast that Huntington Bancshares Incorporated will post $0.92 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 18th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, September 15th. This represents a $0.32 dividend on an annualized basis and a yield of 2.53%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 46.38%.
Huntington Bancshares announced that its Board of Directors has approved a share buyback program on Wednesday, June 28th that allows the company to buyback $308.00 million in outstanding shares. This buyback authorization allows the bank to repurchase up to 2.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
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A number of analysts have recently issued reports on the stock. BidaskClub raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Deutsche Bank AG reissued a “buy” rating on shares of Huntington Bancshares in a research report on Monday, July 3rd. Instinet reissued a “buy” rating and issued a $16.00 price target (up from $15.00) on shares of Huntington Bancshares in a research report on Wednesday, July 12th. Morgan Stanley reissued an “equal weight” rating and issued a $14.25 price target (up from $13.75) on shares of Huntington Bancshares in a research report on Friday, July 7th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $16.00 price target on shares of Huntington Bancshares in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. Huntington Bancshares currently has an average rating of “Buy” and an average target price of $14.96.
In other Huntington Bancshares news, Director Richard W. Neu purchased 2,450 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The shares were acquired at an average cost of $13.10 per share, for a total transaction of $32,095.00. Following the completion of the acquisition, the director now owns 184,596 shares of the company’s stock, valued at approximately $2,418,207.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.30% of the company’s stock.
About Huntington Bancshares
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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