Signition LP purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 27,561 shares of the bank’s stock, valued at approximately $381,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Cornerstone Advisors Inc. increased its holdings in Huntington Bancshares by 106.5% during the 2nd quarter. Cornerstone Advisors Inc. now owns 2,305 shares of the bank’s stock worth $32,000 after acquiring an additional 1,189 shares during the period. Trustcore Financial Services LLC bought a new position in shares of Huntington Bancshares in the 1st quarter worth about $39,000. Destination Wealth Management bought a new position in shares of Huntington Bancshares in the 1st quarter worth about $46,000. Bremer Bank National Association bought a new position in shares of Huntington Bancshares in the 1st quarter worth about $53,000. Finally, Icon Wealth Partners LLC bought a new stake in Huntington Bancshares during the 1st quarter valued at about $57,000. 75.94% of the stock is currently owned by institutional investors.
In other news, EVP Nancy E. Maloney sold 2,604 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $14.57, for a total transaction of $37,940.28. Following the transaction, the executive vice president now owns 80,103 shares in the company, valued at $1,167,100.71. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.22% of the company’s stock.
NASDAQ:HBAN traded down $0.33 during mid-day trading on Friday, reaching $12.58. The company’s stock had a trading volume of 267,817 shares, compared to its average volume of 9,497,770. Huntington Bancshares Incorporated has a 1 year low of $11.12 and a 1 year high of $16.52. The stock has a fifty day moving average of $13.56 and a 200-day moving average of $13.53. The firm has a market capitalization of $13.40 billion, a PE ratio of 10.49, a price-to-earnings-growth ratio of 1.41 and a beta of 1.40. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.86.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, July 25th. The bank reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. Huntington Bancshares had a net margin of 25.77% and a return on equity of 14.23%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 earnings per share. On average, analysts expect that Huntington Bancshares Incorporated will post 1.3 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.77%. This is an increase from Huntington Bancshares’s previous quarterly dividend of $0.14. Huntington Bancshares’s dividend payout ratio is 46.67%.
A number of equities analysts recently issued reports on HBAN shares. BidaskClub downgraded shares of Huntington Bancshares from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. BMO Capital Markets cut shares of Huntington Bancshares from a “market perform” rating to an “underperform” rating and set a $14.00 price objective on the stock. in a research report on Monday, July 8th. Zacks Investment Research upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, May 21st. Argus initiated coverage on shares of Huntington Bancshares in a research report on Friday, May 31st. They set a “hold” rating on the stock. Finally, Nomura set a $14.00 price target on shares of Huntington Bancshares and gave the stock a “hold” rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $15.63.
About Huntington Bancshares
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).
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