Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys 216 Shares of Huntington Bancshares Incorporated (HBAN)
Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,766 shares of the bank’s stock after purchasing an additional 216 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Huntington Bancshares were worth $1,092,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lincoln National Corp increased its position in Huntington Bancshares by 0.6% in the 2nd quarter. Lincoln National Corp now owns 14,350 shares of the bank’s stock valued at $194,000 after acquiring an additional 84 shares during the period. Formidable Asset Management LLC increased its position in Huntington Bancshares by 0.6% in the 1st quarter. Formidable Asset Management LLC now owns 16,520 shares of the bank’s stock valued at $216,000 after acquiring an additional 100 shares during the period. Cleararc Capital Inc. increased its position in Huntington Bancshares by 0.7% in the 1st quarter. Cleararc Capital Inc. now owns 26,527 shares of the bank’s stock valued at $355,000 after acquiring an additional 176 shares during the period. Janney Capital Management LLC increased its position in Huntington Bancshares by 0.6% in the 2nd quarter. Janney Capital Management LLC now owns 29,185 shares of the bank’s stock valued at $394,000 after acquiring an additional 179 shares during the period. Finally, North Star Asset Management Inc. increased its position in Huntington Bancshares by 1.6% in the 1st quarter. North Star Asset Management Inc. now owns 12,656 shares of the bank’s stock valued at $169,000 after acquiring an additional 200 shares during the period. 74.16% of the stock is currently owned by institutional investors and hedge funds.
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In related news, EVP Nicholas G. Stanutz sold 16,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $12.71, for a total value of $203,360.00. Following the completion of the sale, the executive vice president now owns 447,722 shares in the company, valued at approximately $5,690,546.62. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard W. Neu acquired 2,450 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was purchased at an average price of $13.10 per share, with a total value of $32,095.00. Following the transaction, the director now owns 184,596 shares in the company, valued at $2,418,207.60. The disclosure for this purchase can be found here. Insiders own 1.30% of the company’s stock.
Several analysts recently commented on HBAN shares. Hilliard Lyons upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their target price for the company from $14.00 to $15.00 in a research report on Monday, July 24th. Royal Bank Of Canada restated a “buy” rating and issued a $16.00 target price on shares of Huntington Bancshares in a research report on Thursday, July 27th. BMO Capital Markets restated a “buy” rating and issued a $16.00 target price on shares of Huntington Bancshares in a research report on Friday, June 9th. Deutsche Bank AG restated a “buy” rating on shares of Huntington Bancshares in a research report on Monday, July 3rd. Finally, Instinet restated a “buy” rating and issued a $16.00 target price (up from $15.00) on shares of Huntington Bancshares in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. Huntington Bancshares currently has a consensus rating of “Buy” and a consensus price target of $14.96.
Shares of Huntington Bancshares Incorporated (NASDAQ HBAN) opened at 12.54 on Tuesday. Huntington Bancshares Incorporated has a 12 month low of $9.52 and a 12 month high of $14.74. The firm has a market cap of $13.67 billion, a PE ratio of 17.37 and a beta of 1.37. The stock has a 50 day moving average price of $12.89 and a 200 day moving average price of $13.16.
Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, July 21st. The bank reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. During the same quarter in the previous year, the company posted $0.19 EPS. On average, equities research analysts expect that Huntington Bancshares Incorporated will post $0.92 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Friday, September 15th. Huntington Bancshares’s payout ratio is 46.38%.
Huntington Bancshares declared that its Board of Directors has authorized a share buyback program on Wednesday, June 28th that authorizes the company to repurchase $308.00 million in shares. This repurchase authorization authorizes the bank to purchase up to 2.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
Huntington Bancshares 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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