Raymond James Financial Services Advisors Inc. Has $5.70 Million Holdings in Huntington Bancshares Incorporated (HBAN)
Raymond James Financial Services Advisors Inc. trimmed its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 421,539 shares of the bank’s stock after selling 19,246 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Huntington Bancshares were worth $5,699,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of HBAN. Sun Life Financial INC boosted its stake in shares of Huntington Bancshares by 99,812.5% during the 2nd quarter. Sun Life Financial INC now owns 7,993 shares of the bank’s stock worth $108,000 after acquiring an additional 7,985 shares during the period. Chicago Partners Investment Group LLC bought a new position in shares of Huntington Bancshares during the 2nd quarter worth approximately $134,000. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Huntington Bancshares by 8.7% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 10,382 shares of the bank’s stock worth $140,000 after acquiring an additional 834 shares during the period. Foster & Motley Inc. boosted its stake in shares of Huntington Bancshares by 2.2% during the 2nd quarter. Foster & Motley Inc. now owns 10,504 shares of the bank’s stock worth $142,000 after acquiring an additional 224 shares during the period. Finally, Eqis Capital Management Inc. bought a new position in shares of Huntington Bancshares during the 2nd quarter worth approximately $146,000. Hedge funds and other institutional investors own 74.17% of the company’s stock.
Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Friday, July 21st. The bank reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ 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 earnings per share.
Huntington Bancshares announced that its board has authorized a share buyback plan on Wednesday, June 28th that permits the company to buyback $308.00 million in outstanding shares. This buyback authorization permits the bank to reacquire up to 2.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, September 18th were given 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 dividend yield of 2.32%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 46.38%.
Several research analysts have recently commented on the company. BidaskClub downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Keefe, Bruyette & Woods set a $14.00 target price on Huntington Bancshares and gave the stock a “hold” rating in a research note on Saturday, June 24th. Deutsche Bank AG reiterated a “buy” rating on shares of Huntington Bancshares in a research note on Monday, July 3rd. Piper Jaffray Companies upgraded Huntington Bancshares from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $14.00 to $15.00 in a research note on Friday, August 11th. Finally, Instinet reiterated a “buy” rating and set a $16.00 target price (up from $15.00) on shares of Huntington Bancshares in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Huntington Bancshares currently has a consensus rating of “Buy” and an average target price of $15.01.
In related news, EVP Nicholas G. Stanutz sold 16,000 shares of the stock in a transaction on 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 owns 447,722 shares in the company, valued at $5,690,546.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 acquired at an average price of $13.10 per share, for a total transaction of $32,095.00. Following 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. Company insiders own 1.30% of the company’s stock.
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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