Duality Advisers LP bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 177,809 shares of the bank’s stock, valued at approximately $1,607,000.
A number of other hedge funds have also added to or reduced their stakes in HBAN. Sciencast Management LP acquired a new stake in shares of Huntington Bancshares during the second quarter worth about $2,073,000. Pacer Advisors Inc. purchased a new stake in Huntington Bancshares during the 2nd quarter valued at approximately $785,000. GWM Advisors LLC lifted its position in Huntington Bancshares by 38.5% during the 2nd quarter. GWM Advisors LLC now owns 31,408 shares of the bank’s stock worth $284,000 after acquiring an additional 8,737 shares during the period. Beacon Investment Advisory Services Inc. grew its stake in shares of Huntington Bancshares by 8.8% in the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 17,855 shares of the bank’s stock valued at $161,000 after purchasing an additional 1,446 shares during the last quarter. Finally, Bremer Bank National Association acquired a new position in shares of Huntington Bancshares in the second quarter valued at approximately $166,000. Hedge funds and other institutional investors own 73.91% of the company’s stock.
HBAN opened at $9.27 on Friday. The business’s fifty day moving average is $9.23 and its two-hundred day moving average is $10.18. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.90 and a current ratio of 0.92. The company has a market cap of $9.40 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 3.18 and a beta of 1.53. Huntington Bancshares Incorporated has a one year low of $6.82 and a one year high of $15.63.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. Huntington Bancshares had a return on equity of 8.35% and a net margin of 16.27%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the business posted $0.33 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. On average, analysts predict that Huntington Bancshares Incorporated will post 0.59 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 17th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 6.47%. The ex-dividend date is Wednesday, September 16th. Huntington Bancshares’s payout ratio is currently 47.24%.
A number of equities analysts recently weighed in on the stock. Stephens upgraded shares of Huntington Bancshares from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $9.00 to $10.50 in a research report on Wednesday, June 3rd. Morgan Stanley lifted their target price on shares of Huntington Bancshares from $10.50 to $11.00 and gave the company an “equal weight” rating in a report on Monday, June 8th. BidaskClub cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Cfra reduced their price objective on shares of Huntington Bancshares from $15.00 to $9.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Finally, Bank of America dropped their target price on Huntington Bancshares from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $10.04.
In other news, EVP Paul G. Heller sold 46,726 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $9.10, for a total value of $425,206.60. Following the sale, the executive vice president now directly owns 532,943 shares in the company, valued at $4,849,781.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is owned by corporate insiders.
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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