Huntington Bancshares Incorporated (HBAN) Shares Bought by Sumitomo Mitsui Trust Holdings Inc.
Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,158,652 shares of the bank’s stock after buying an additional 69,092 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.29% of Huntington Bancshares worth $42,705,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Formidable Asset Management LLC increased its position in Huntington Bancshares by 0.6% in the first quarter. Formidable Asset Management LLC now owns 16,520 shares of the bank’s stock valued at $216,000 after buying an additional 100 shares during the last quarter. Cleararc Capital Inc. increased its position in Huntington Bancshares by 0.7% in the first quarter. Cleararc Capital Inc. now owns 26,527 shares of the bank’s stock valued at $355,000 after buying an additional 176 shares during the last quarter. Janney Capital Management LLC increased its position in Huntington Bancshares by 0.6% in the second quarter. Janney Capital Management LLC now owns 29,185 shares of the bank’s stock valued at $394,000 after buying an additional 179 shares during the last quarter. North Star Asset Management Inc. increased its position in Huntington Bancshares by 1.6% in the first quarter. North Star Asset Management Inc. now owns 12,656 shares of the bank’s stock valued at $169,000 after buying an additional 200 shares during the last quarter. Finally, OLD National Bancorp IN increased its position in Huntington Bancshares by 1.2% in the second quarter. OLD National Bancorp IN now owns 19,152 shares of the bank’s stock valued at $259,000 after buying an additional 220 shares during the last quarter. 74.54% of the stock is owned by hedge funds and other institutional investors.
Shares of Huntington Bancshares Incorporated (NASDAQ HBAN) opened at 12.76 on Friday. The stock has a 50 day moving average price of $13.21 and a 200-day moving average price of $13.27. Huntington Bancshares Incorporated has a 12 month low of $9.52 and a 12 month high of $14.74. The stock has a market cap of $13.91 billion, a P/E ratio of 17.67 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.03. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the business earned $0.19 EPS. On average, analysts forecast that Huntington Bancshares Incorporated will post $0.92 EPS for the current fiscal year.
Huntington Bancshares declared that its Board of Directors has approved a share buyback plan on Wednesday, June 28th that authorizes the company to repurchase $308.00 million in outstanding shares. This repurchase authorization authorizes the bank to reacquire up to 2.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 18th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.32 annualized dividend and a dividend yield of 2.51%. Huntington Bancshares’s dividend payout ratio is presently 46.38%.
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Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods set a $14.00 price target on Huntington Bancshares and gave the stock a “hold” rating in a research report on Saturday, June 24th. BidaskClub downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Deutsche Bank AG reissued a “buy” rating on shares of Huntington Bancshares in a research report on Monday, July 3rd. BMO Capital Markets reissued a “buy” rating and set a $16.00 price target on shares of Huntington Bancshares in a research report on Friday, June 9th. Finally, Instinet reissued a “buy” rating and set a $16.00 price target (up previously from $15.00) on shares of Huntington Bancshares in a research report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. Huntington Bancshares has a consensus rating of “Buy” and a consensus target price of $14.96.
In other news, 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 cost of $13.10 per share, for a total transaction of $32,095.00. Following the purchase, the director now directly owns 184,596 shares of the company’s stock, valued at $2,418,207.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nicholas G. Stanutz sold 16,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $12.71, for a total transaction of $203,360.00. Following the transaction, the executive vice president now owns 447,722 shares in the company, valued at $5,690,546.62. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.
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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