Ameriprise Financial Inc. lowered its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 5.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,544,350 shares of the bank’s stock after selling 237,822 shares during the period. Ameriprise Financial Inc.’s holdings in Huntington Bancshares were worth $60,834,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Huntington Bancshares by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 62,185 shares of the bank’s stock valued at $822,000 after buying an additional 188 shares during the last quarter. Raymond James Trust N.A. boosted its stake in Huntington Bancshares by 1.5% in the first quarter. Raymond James Trust N.A. now owns 22,088 shares of the bank’s stock valued at $296,000 after buying an additional 334 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Huntington Bancshares by 3.0% in the first quarter. Diamond Hill Capital Management Inc. now owns 13,614 shares of the bank’s stock valued at $182,000 after buying an additional 401 shares during the last quarter. Summit Financial Strategies Inc. boosted its stake in Huntington Bancshares by 4.1% in the fourth quarter. Summit Financial Strategies Inc. now owns 11,388 shares of the bank’s stock valued at $151,000 after buying an additional 450 shares during the last quarter. Finally, Wetherby Asset Management Inc. boosted its stake in Huntington Bancshares by 2.7% in the fourth quarter. Wetherby Asset Management Inc. now owns 18,469 shares of the bank’s stock valued at $244,000 after buying an additional 479 shares during the last quarter. Institutional investors own 70.49% of the company’s stock.
Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) traded up 0.56% during mid-day trading on Friday, hitting $12.57. The stock had a trading volume of 7,563,931 shares. The company’s 50 day moving average is $12.96 and its 200-day moving average is $13.09. The stock has a market cap of $13.67 billion, a P/E ratio of 18.65 and a beta of 1.24. Huntington Bancshares Incorporated has a 52-week low of $8.05 and a 52-week high of $14.74.
Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Wednesday, April 19th. The bank reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Huntington Bancshares had a net margin of 18.11% and a return on equity of 11.09%. The business’s quarterly revenue was up 39.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 earnings per share. On average, equities research analysts anticipate that Huntington Bancshares Incorporated will post $0.92 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Monday, June 19th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Thursday, June 15th. Huntington Bancshares’s payout ratio is 47.06%.
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HBAN has been the topic of several research reports. Hilliard Lyons cut Huntington Bancshares from a “buy” rating to a “neutral” rating in a research report on Thursday, January 26th. BMO Capital Markets reaffirmed a “buy” rating and set a $16.00 price objective on shares of Huntington Bancshares in a research report on Friday, April 28th. FBR & Co lifted their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the company a “market perform” rating in a research report on Wednesday, January 25th. Keefe, Bruyette & Woods set a $14.00 price objective on Huntington Bancshares and gave the company a “hold” rating in a research report on Monday, April 3rd. Finally, Zacks Investment Research cut Huntington Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, April 12th. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Huntington Bancshares presently has a consensus rating of “Buy” and a consensus price target of $13.96.
In other Huntington Bancshares news, Director John C. Inglis acquired 7,142 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The shares were bought at an average cost of $14.06 per share, with a total value of $100,416.52. Following the completion of the acquisition, the director now directly owns 7,142 shares in the company, valued at approximately $100,416.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephen D. Steinour acquired 50,000 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The shares were acquired at an average cost of $12.40 per share, for a total transaction of $620,000.00. Following the completion of the acquisition, the chief executive officer now owns 3,891,831 shares of the company’s stock, valued at $48,258,704.40. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 72,632 shares of company stock worth $920,547 and have sold 38,115 shares worth $494,033. Company insiders own 1.65% of the company’s stock.
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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