Huntington Bancshares Incorporated (HBAN) Shares Bought by Investment Centers of America Inc.
Investment Centers of America Inc. boosted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 77,865 shares of the bank’s stock after acquiring an additional 676 shares during the quarter. Investment Centers of America Inc.’s holdings in Huntington Bancshares were worth $1,053,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. increased its position in shares of 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 valued at $128,000 after buying an additional 7,521 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of Huntington Bancshares in the second quarter valued at $134,000. Hartland & Co. LLC purchased a new position in shares of Huntington Bancshares in the first quarter valued at $141,000. Foster & Motley Inc. increased its position in shares of Huntington Bancshares by 2.2% in the second quarter. Foster & Motley Inc. now owns 10,504 shares of the bank’s stock valued at $142,000 after buying an additional 224 shares in the last quarter. Finally, Eqis Capital Management Inc. purchased a new position in shares of Huntington Bancshares in the second quarter valued at $146,000. Hedge funds and other institutional investors own 74.16% of the company’s stock.
A number of research analysts have recently weighed in on the company. Keefe, Bruyette & Woods set a $14.00 price target on Huntington Bancshares and gave the company a “hold” rating in a research report on Friday, August 11th. Royal Bank Of Canada restated a “buy” rating and issued a $16.00 price target on shares of Huntington Bancshares in a research report on Friday, September 8th. BidaskClub cut Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Piper Jaffray Companies upgraded Huntington Bancshares from a “neutral” rating to an “overweight” rating and raised their price target for the company from $14.00 to $15.00 in a research report on Friday, August 11th. Finally, BMO Capital Markets restated a “buy” rating and issued a $16.00 price target on shares of Huntington Bancshares in a research report on Friday, June 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $15.01.
In related news, EVP Nicholas G. Stanutz sold 16,000 shares of the company’s stock in a transaction on 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 directly owns 447,722 shares of the company’s stock, valued at $5,690,546.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the director now directly owns 184,596 shares of the company’s stock, valued at approximately $2,418,207.60. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by insiders.
Shares of Huntington Bancshares Incorporated (NASDAQ HBAN) traded up 0.31% during mid-day trading on Friday, reaching $12.76. The company’s stock had a trading volume of 16,063,966 shares. 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 $12.83 and its 200-day moving average is $13.13. The company 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 announced its earnings results on Friday, July 21st. The bank reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 previous year, the firm earned $0.19 earnings per share. 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 given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.51%. The ex-dividend date is Friday, September 15th. Huntington Bancshares’s payout ratio is 46.38%.
Huntington Bancshares declared that its board has authorized a stock repurchase plan on Wednesday, June 28th that allows the company to buyback $308.00 million in outstanding shares. This buyback authorization allows the bank to purchase up to 2.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
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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