Capital Fund Management S.A. decreased its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 57.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 366,971 shares of the bank’s stock after selling 501,523 shares during the quarter. Capital Fund Management S.A.’s holdings in Huntington Bancshares were worth $4,961,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. raised its position in Huntington Bancshares by 371.0% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 9,548 shares of the bank’s stock valued at $128,000 after purchasing an additional 7,521 shares during the last quarter. Chicago Partners Investment Group LLC bought a new position in Huntington Bancshares in the 2nd quarter valued at $134,000. Hartland & Co. LLC bought a new position in Huntington Bancshares in the 1st quarter valued at $141,000. Foster & Motley Inc. raised its position in Huntington Bancshares by 2.2% in the 2nd quarter. Foster & Motley Inc. now owns 10,504 shares of the bank’s stock valued at $142,000 after purchasing an additional 224 shares during the last quarter. Finally, Eqis Capital Management Inc. bought a new position in Huntington Bancshares in the 2nd quarter valued at $146,000. 74.16% of the stock is currently owned by institutional investors and hedge funds.
Shares of Huntington Bancshares Incorporated (NASDAQ HBAN) opened at 12.54 on Tuesday. Huntington Bancshares Incorporated has a 12-month low of $9.52 and a 12-month high of $14.74. The company has a market cap of $13.67 billion, a P/E ratio of 17.37 and a beta of 1.37. The company has a 50-day moving average price of $12.89 and a 200-day moving average price of $13.16.
Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, July 21st. The bank reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.03. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. Huntington Bancshares had a return on equity of 11.39% and a net margin of 18.41%. During the same period last year, the company earned $0.19 EPS. On average, analysts predict that Huntington Bancshares Incorporated will post $0.92 earnings per share for the current year.
Huntington Bancshares declared that its board has authorized a stock buyback program on Wednesday, June 28th that allows the company to repurchase $308.00 million in shares. This repurchase authorization allows the bank to purchase up to 2.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 18th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Friday, September 15th. Huntington Bancshares’s dividend payout ratio is currently 46.38%.
Several brokerages have issued reports on HBAN. Deutsche Bank AG reiterated a “buy” rating on shares of Huntington Bancshares in a research report on Monday, July 3rd. Royal Bank Of Canada reiterated a “buy” rating and issued a $16.00 price objective on shares of Huntington Bancshares in a research report on Friday. JMP Securities began coverage on Huntington Bancshares in a research report on Thursday, August 31st. They issued an “outperform” rating and a $15.00 price objective for the company. BMO Capital Markets reiterated an “outperform” rating and issued a $15.00 price objective (down previously from $16.00) on shares of Huntington Bancshares in a research report on Friday, July 21st. Finally, BidaskClub downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $14.96.
In related news, Director Richard W. Neu bought 2,450 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was acquired at an average cost of $13.10 per share, with a total value of $32,095.00. Following the transaction, the director now directly owns 184,596 shares in the company, valued at $2,418,207.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nicholas G. Stanutz sold 16,000 shares of the firm’s 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 transaction, the executive vice president now directly owns 447,722 shares of the company’s stock, valued at $5,690,546.62. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.
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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