Zurich Insurance Group Ltd FI grew its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 136.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 563,649 shares of the bank’s stock after acquiring an additional 325,769 shares during the quarter. Zurich Insurance Group Ltd FI owned about 0.05% of Huntington Bancshares worth $7,790,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cornerstone Advisors Inc. raised its stake in shares of Huntington Bancshares by 106.5% in the second quarter. Cornerstone Advisors Inc. now owns 2,305 shares of the bank’s stock valued at $32,000 after acquiring an additional 1,189 shares during the period. Bremer Bank National Association bought a new position in shares of Huntington Bancshares in the first quarter worth about $53,000. Icon Wealth Partners LLC bought a new position in shares of Huntington Bancshares in the first quarter worth about $57,000. AdvisorNet Financial Inc grew its holdings in shares of Huntington Bancshares by 28.5% in the second quarter. AdvisorNet Financial Inc now owns 4,414 shares of the bank’s stock worth $61,000 after purchasing an additional 980 shares during the last quarter. Finally, Meridian Wealth Management LLC bought a new position in shares of Huntington Bancshares in the first quarter worth about $63,000. 75.13% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Nancy E. Maloney sold 2,604 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $14.57, for a total value of $37,940.28. Following the sale, the executive vice president now directly owns 80,103 shares in the company, valued at approximately $1,167,100.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.22% of the stock is currently owned by company insiders.
Several brokerages have issued reports on HBAN. ValuEngine cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. BidaskClub upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Monday, September 2nd. DA Davidson cut shares of Huntington Bancshares from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a report on Friday, September 13th. They noted that the move was a valuation call. Raymond James set a $14.00 target price on shares of Huntington Bancshares and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, BMO Capital Markets cut shares of Huntington Bancshares from a “market perform” rating to an “underperform” rating and set a $14.00 target price on the stock. in a report on Monday, July 8th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.28.
Huntington Bancshares stock traded down $0.07 during midday trading on Friday, hitting $14.40. 7,571,345 shares of the company’s stock were exchanged, compared to its average volume of 8,075,611. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 0.90. Huntington Bancshares Incorporated has a 12 month low of $11.12 and a 12 month high of $16.06. The firm has a 50-day moving average of $13.35 and a two-hundred day moving average of $13.48. The company has a market cap of $15.02 billion, a PE ratio of 12.00, a P/E/G ratio of 1.58 and a beta of 1.44.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, July 25th. The bank reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. Huntington Bancshares had a net margin of 25.77% and a return on equity of 14.23%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period last year, the business earned $0.30 EPS. The company’s revenue was up 5.9% compared to the same quarter last year. As a group, equities analysts expect that Huntington Bancshares Incorporated will post 1.3 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be issued a $0.15 dividend. This is a boost from Huntington Bancshares’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date is Monday, September 16th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 50.00%.
Huntington Bancshares Profile
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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