Budros Ruhlin & Roe Inc. Acquires 15,501 Shares of Huntington Bancshares Incorporated (HBAN)
Budros Ruhlin & Roe Inc. raised its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 57.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,263 shares of the bank’s stock after buying an additional 15,501 shares during the period. Budros Ruhlin & Roe Inc.’s holdings in Huntington Bancshares were worth $571,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Huntington Bancshares by 3.8% in the first quarter. Vanguard Group Inc. now owns 107,431,420 shares of the bank’s stock worth $1,438,506,000 after buying an additional 3,937,628 shares during the last quarter. FMR LLC increased its position in shares of Huntington Bancshares by 21.4% in the first quarter. FMR LLC now owns 98,004,607 shares of the bank’s stock worth $1,312,281,000 after buying an additional 17,263,771 shares during the last quarter. BlackRock Inc. increased its position in shares of Huntington Bancshares by 2,879.7% in the first quarter. BlackRock Inc. now owns 68,761,543 shares of the bank’s stock worth $920,719,000 after buying an additional 66,453,890 shares during the last quarter. Boston Partners increased its position in shares of Huntington Bancshares by 29.5% in the first quarter. Boston Partners now owns 34,218,873 shares of the bank’s stock worth $458,191,000 after buying an additional 7,804,639 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Huntington Bancshares by 6.5% in the first quarter. Wellington Management Group LLP now owns 18,405,607 shares of the bank’s stock worth $246,451,000 after buying an additional 1,121,927 shares during the last quarter. Hedge funds and other institutional investors own 74.16% of the company’s stock.
Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) traded down 0.071% during midday trading on Thursday, reaching $12.661. 1,076,795 shares of the company were exchanged. Huntington Bancshares Incorporated has a 52-week low of $9.52 and a 52-week high of $14.74. The firm’s 50 day moving average is $13.21 and its 200-day moving average is $13.27. The company has a market capitalization of $13.80 billion, a PE ratio of 17.536 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 for the quarter, beating the consensus estimate of $0.23 by $0.03. Huntington Bancshares had a return on equity of 11.39% and a net margin of 18.41%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the firm posted $0.19 earnings per share. On average, equities analysts forecast that Huntington Bancshares Incorporated will post $0.92 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 18th 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 2.53%. The ex-dividend date is Friday, September 15th. Huntington Bancshares’s dividend payout ratio is currently 46.38%.
Huntington Bancshares announced that its board 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 reacquire up to 2.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
A number of equities analysts have commented on the stock. 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. BidaskClub downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. JMP Securities assumed coverage on shares of Huntington Bancshares in a research report on Thursday. They set an “outperform” rating and a $15.00 price objective for the company. Deutsche Bank AG restated a “buy” rating on shares of Huntington Bancshares in a research report on Monday, July 3rd. Finally, BMO Capital Markets restated a “buy” rating and set a $16.00 price objective on shares of Huntington Bancshares in a research report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. 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 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 in the company, valued at approximately $2,418,207.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nicholas G. Stanutz sold 16,000 shares of the firm’s 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 sale, the executive vice president now directly owns 447,722 shares in the company, valued at approximately $5,690,546.62. The disclosure for this sale can be found here. 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.
Want to see what other hedge funds are holding HBAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Huntington Bancshares Incorporated (NASDAQ:HBAN).
Receive News & Stock Ratings for Huntington Bancshares Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Huntington Bancshares Incorporated and related stocks with our FREE daily email newsletter.