Naples Money Management LLC Acquires Shares of 13,692 Huntington Bancshares Incorporated (NASDAQ:HBAN)

Naples Money Management LLC bought a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the fourth quarter, Holdings Channel reports. The institutional investor bought 13,692 shares of the bank’s stock, valued at approximately $174,000.

Several other hedge funds have also recently modified their holdings of the stock. California Public Employees Retirement System raised its holdings in shares of Huntington Bancshares by 2.3% during the third quarter. California Public Employees Retirement System now owns 2,794,810 shares of the bank’s stock valued at $29,066,000 after acquiring an additional 62,674 shares during the last quarter. Comerica Bank purchased a new stake in shares of Huntington Bancshares during the third quarter worth approximately $5,261,000. Vest Financial LLC raised its stake in Huntington Bancshares by 16.5% in the 4th quarter. Vest Financial LLC now owns 1,000,872 shares of the bank’s stock valued at $12,731,000 after purchasing an additional 141,410 shares during the last quarter. Bank of Nova Scotia lifted its holdings in Huntington Bancshares by 199.6% in the 3rd quarter. Bank of Nova Scotia now owns 374,289 shares of the bank’s stock valued at $3,893,000 after purchasing an additional 249,356 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Huntington Bancshares by 5.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 120,744 shares of the bank’s stock worth $1,256,000 after purchasing an additional 5,740 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

HBAN has been the topic of several research reports. JPMorgan Chase & Co. raised their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Keefe, Bruyette & Woods boosted their target price on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Bank of America raised Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their price target for the company from $14.00 to $16.00 in a report on Monday, April 8th. Stephens reissued an “equal weight” rating and set a $15.00 price objective on shares of Huntington Bancshares in a research note on Monday, April 1st. Finally, StockNews.com downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $14.97.

Insider Activity at Huntington Bancshares

In other news, VP Julie C. Tutkovics sold 15,541 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total transaction of $197,059.88. Following the sale, the vice president now owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Huntington Bancshares news, VP Julie C. Tutkovics sold 15,541 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total value of $197,059.88. Following the completion of the transaction, the vice president now owns 303,455 shares in the company, valued at $3,847,809.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ann B. Crane sold 58,000 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $13.54, for a total value of $785,320.00. Following the sale, the director now directly owns 192,247 shares in the company, valued at approximately $2,603,024.38. The disclosure for this sale can be found here. Insiders sold 102,241 shares of company stock worth $1,360,359 in the last three months. 0.89% of the stock is owned by company insiders.

Huntington Bancshares Trading Up 0.8 %

Shares of HBAN stock traded up $0.10 during trading hours on Friday, hitting $13.28. The company had a trading volume of 39,981,445 shares, compared to its average volume of 17,831,621. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $19.26 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 2.44 and a beta of 1.11. The company’s fifty day moving average is $13.25 and its 200 day moving average is $12.11. Huntington Bancshares Incorporated has a fifty-two week low of $9.13 and a fifty-two week high of $14.07.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, January 19th. The bank reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.15. Huntington Bancshares had a return on equity of 12.96% and a net margin of 18.00%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the previous year, the company earned $0.43 earnings per share. Research analysts expect that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.67%. Huntington Bancshares’s payout ratio is 50.00%.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.