Victory Capital Management Inc. Raises Position in Huntington Bancshares Incorporated (HBAN)
Victory Capital Management Inc. raised its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 30.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,406,021 shares of the bank’s stock after buying an additional 332,265 shares during the period. Victory Capital Management Inc. owned about 0.13% of Huntington Bancshares worth $19,628,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Nationwide Fund Advisors boosted its stake in Huntington Bancshares by 430.6% in the 2nd quarter. Nationwide Fund Advisors now owns 1,620,866 shares of the bank’s stock worth $21,914,000 after purchasing an additional 1,315,390 shares during the period. Budros Ruhlin & Roe Inc. boosted its stake in Huntington Bancshares by 57.9% in the 2nd quarter. Budros Ruhlin & Roe Inc. now owns 42,263 shares of the bank’s stock worth $571,000 after purchasing an additional 15,501 shares during the period. First National Bank of Omaha boosted its stake in Huntington Bancshares by 0.6% in the 2nd quarter. First National Bank of Omaha now owns 312,098 shares of the bank’s stock worth $4,219,000 after purchasing an additional 1,844 shares during the period. IBM Retirement Fund boosted its stake in Huntington Bancshares by 121.4% in the 2nd quarter. IBM Retirement Fund now owns 26,505 shares of the bank’s stock worth $401,000 after purchasing an additional 14,533 shares during the period. Finally, Exchange Capital Management Inc. boosted its stake in Huntington Bancshares by 96.4% in the 2nd quarter. Exchange Capital Management Inc. now owns 66,824 shares of the bank’s stock worth $903,000 after purchasing an additional 32,792 shares during the period. Hedge funds and other institutional investors own 74.69% of the company’s stock.
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Huntington Bancshares Incorporated (NASDAQ HBAN) opened at $13.14 on Friday. The firm has a market cap of $14,203.63, a price-to-earnings ratio of 13.69, a PEG ratio of 1.49 and a beta of 1.34. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.87 and a current ratio of 0.88. Huntington Bancshares Incorporated has a twelve month low of $11.49 and a twelve month high of $14.74.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Wednesday, October 25th. The bank reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. Huntington Bancshares had a net margin of 20.76% and a return on equity of 11.96%. During the same quarter in the prior year, the business posted $0.11 EPS. sell-side analysts forecast that Huntington Bancshares Incorporated will post 0.98 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 18th will be issued a dividend of $0.11 per share. The ex-dividend date is Friday, December 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.35%. This is an increase from Huntington Bancshares’s previous quarterly dividend of $0.08. Huntington Bancshares’s dividend payout ratio (DPR) is currently 39.51%.
In other news, insider Helga Houston sold 14,513 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $13.77, for a total transaction of $199,844.01. Following the transaction, the insider now owns 499,824 shares in the company, valued at approximately $6,882,576.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel J. Neumeyer sold 43,491 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $13.88, for a total transaction of $603,655.08. Following the transaction, the executive vice president now owns 427,270 shares in the company, valued at approximately $5,930,507.60. The disclosure for this sale can be found here. Insiders have sold a total of 74,004 shares of company stock worth $1,006,859 in the last 90 days. 1.30% of the stock is owned by insiders.
A number of research firms recently commented on HBAN. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $15.50 price objective on shares of Huntington Bancshares in a research note on Tuesday, October 17th. FBR & Co reaffirmed a “hold” rating and issued a $14.00 price objective on shares of Huntington Bancshares in a research note on Thursday, October 26th. BMO Capital Markets lowered shares of Huntington Bancshares from an “outperform” rating to a “market perform” rating and set a $16.00 price objective for the company. in a research note on Thursday, October 26th. Nomura raised their price objective on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $14.25 price objective on shares of Huntington Bancshares in a research note on Friday, October 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. Huntington Bancshares presently has a consensus rating of “Buy” and a consensus price target of $15.22.
Huntington Bancshares Company 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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