Balyasny Asset Management LLC Has $13.58 Million Holdings in Huntington Bancshares Incorporated (HBAN)
Balyasny Asset Management LLC raised its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 3,930.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,004,709 shares of the bank’s stock after acquiring an additional 979,779 shares during the quarter. Balyasny Asset Management LLC owned approximately 0.09% of Huntington Bancshares worth $13,584,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Huntington Bancshares by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 109,990,274 shares of the bank’s stock valued at $1,487,068,000 after purchasing an additional 2,558,854 shares in the last quarter. FMR LLC grew its holdings in shares of Huntington Bancshares by 21.4% in the 1st quarter. FMR LLC now owns 98,004,607 shares of the bank’s stock worth $1,312,281,000 after purchasing an additional 17,263,771 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Huntington Bancshares by 2,879.7% in the 1st quarter. BlackRock Inc. now owns 68,761,543 shares of the bank’s stock worth $920,719,000 after purchasing an additional 66,453,890 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Huntington Bancshares by 6.5% in the 1st quarter. Wellington Management Group LLP now owns 18,405,607 shares of the bank’s stock worth $246,451,000 after purchasing an additional 1,121,927 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Huntington Bancshares by 8.6% during the 1st quarter. Geode Capital Management LLC now owns 11,751,388 shares of the bank’s stock worth $157,150,000 after purchasing an additional 928,231 shares in the last quarter. 74.17% of the stock is owned by institutional investors.
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Huntington Bancshares Incorporated (NASDAQ:HBAN) opened at 13.90 on Wednesday. The firm’s 50-day moving average is $12.97 and its 200-day moving average is $13.07. The firm has a market capitalization of $15.15 billion, a P/E ratio of 19.25 and a beta of 1.38. Huntington Bancshares Incorporated has a 52-week low of $9.57 and a 52-week high of $14.74.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, July 21st. The bank reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the business posted $0.19 EPS. On average, equities analysts expect that Huntington Bancshares Incorporated will post $0.92 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Monday, September 18th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 15th. This represents a $0.32 dividend on an annualized basis and a yield of 2.30%. Huntington Bancshares’s payout ratio is presently 46.38%.
Huntington Bancshares declared that its Board of Directors has approved a share repurchase 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 stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
In other Huntington Bancshares news, EVP Nicholas G. Stanutz sold 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $12.71, for a total transaction of $203,360.00. Following the sale, the executive vice president now directly owns 447,722 shares of the company’s stock, valued at approximately $5,690,546.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard W. Neu bought 2,450 shares of Huntington Bancshares stock in a transaction 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 acquisition, the director now directly owns 184,596 shares in the company, valued at $2,418,207.60. The disclosure for this purchase can be found here. 1.30% of the stock is owned by corporate insiders.
A number of equities analysts have commented on HBAN shares. BMO Capital Markets restated an “outperform” rating and issued a $15.00 price target (down from $16.00) on shares of Huntington Bancshares in a research report on Friday, July 21st. Deutsche Bank AG reaffirmed a “buy” rating on shares of Huntington Bancshares in a report on Monday, July 3rd. Instinet reaffirmed a “buy” rating and set a $16.00 price objective (up previously from $15.00) on shares of Huntington Bancshares in a report on Wednesday, July 12th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $16.00 price objective on shares of Huntington Bancshares in a report on Friday, September 8th. Finally, BidaskClub cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Huntington Bancshares presently has a consensus rating of “Buy” and an average target price of $15.01.
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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