Legal & General Group Plc Acquires 132,994 Shares of Huntington Bancshares Incorporated (HBAN)
Legal & General Group Plc raised its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,241,207 shares of the bank’s stock after buying an additional 132,994 shares during the period. Legal & General Group Plc owned approximately 0.48% of Huntington Bancshares worth $70,857,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the stock. Bronfman E.L. Rothschild L.P. increased its stake in Huntington Bancshares by 371.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 9,548 shares of the bank’s stock worth $128,000 after buying an additional 7,521 shares during the last quarter. Moody Lynn & Lieberson LLC bought a new position in Huntington Bancshares during the first quarter worth $134,000. Chicago Partners Investment Group LLC bought a new position in Huntington Bancshares during the second quarter worth $134,000. YG Partners LLC bought a new position in Huntington Bancshares during the first quarter worth $2,039,000. Finally, Sigma Planning Corp bought a new position in Huntington Bancshares during the first quarter worth $137,000. 74.54% of the stock is currently owned by institutional investors.
Shares of Huntington Bancshares Incorporated (HBAN) opened at 12.76 on Friday. The firm’s 50 day moving average is $13.21 and its 200-day moving average is $13.27. Huntington Bancshares Incorporated has a one year low of $9.52 and a one year high of $14.74. The firm has a market capitalization of $13.91 billion, a PE ratio of 17.67 and a beta of 1.37.
Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Friday, July 21st. The bank reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.03. The company 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 in the prior year, the firm posted $0.19 EPS. On average, equities research analysts predict that Huntington Bancshares Incorporated will post $0.92 earnings per share for the current fiscal year.
Huntington Bancshares announced that its board has approved a stock repurchase program on Wednesday, June 28th that allows the company to buyback $308.00 million in shares. This buyback authorization allows the bank to reacquire up to 2.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 18th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Friday, September 15th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 46.38%.
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HBAN has been the subject of a number of research analyst reports. BMO Capital Markets reaffirmed a “buy” rating and set a $16.00 price objective on shares of Huntington Bancshares in a research report on Friday, April 28th. Morgan Stanley lowered their price objective on shares of Huntington Bancshares from $14.00 to $13.75 and set an “equal weight” rating for the company in a research report on Tuesday, June 6th. BidaskClub raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Keefe, Bruyette & Woods set a $14.00 price objective on shares of Huntington Bancshares and gave the stock a “hold” rating in a research report on Saturday, June 24th. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Huntington Bancshares in a research report on Monday, July 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $14.96.
In other Huntington Bancshares news, EVP Nicholas G. Stanutz sold 16,000 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $12.71, for a total value of $203,360.00. Following the completion of the transaction, the executive vice president now directly owns 447,722 shares in the company, valued at $5,690,546.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard W. Neu acquired 2,450 shares of the stock in a transaction dated Friday, July 28th. The shares were bought at an average price of $13.10 per share, with a total value of $32,095.00. Following the completion of the transaction, the director now directly owns 184,596 shares of the company’s stock, valued at $2,418,207.60. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company’s stock.
Huntington Bancshares Company Profile
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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