State of Alaska Department of Revenue lifted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 2.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 314,847 shares of the bank’s stock after buying an additional 6,638 shares during the period. State of Alaska Department of Revenue’s holdings in Huntington Bancshares were worth $4,349,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of HBAN. BlackRock Inc. raised its stake in shares of Huntington Bancshares by 17.5% during the 1st quarter. BlackRock Inc. now owns 86,682,134 shares of the bank’s stock worth $1,099,129,000 after buying an additional 12,896,475 shares in the last quarter. Norges Bank purchased a new position in shares of Huntington Bancshares during the 4th quarter worth approximately $105,381,000. JPMorgan Chase & Co. raised its stake in shares of Huntington Bancshares by 20.6% during the 1st quarter. JPMorgan Chase & Co. now owns 37,418,779 shares of the bank’s stock worth $474,471,000 after buying an additional 6,400,061 shares in the last quarter. Federated Investors Inc. PA raised its stake in shares of Huntington Bancshares by 151.5% during the 1st quarter. Federated Investors Inc. PA now owns 6,281,173 shares of the bank’s stock worth $79,646,000 after buying an additional 3,784,133 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Huntington Bancshares by 13.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 14,117,471 shares of the bank’s stock worth $168,284,000 after buying an additional 1,714,381 shares in the last quarter. 75.53% of the stock is owned by institutional investors and hedge funds.
HBAN has been the subject of a number of analyst reports. BidaskClub raised Huntington Bancshares from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Argus initiated coverage on Huntington Bancshares in a research note on Friday, May 31st. They set a “hold” rating for the company. Nomura set a $14.00 target price on Huntington Bancshares and gave the stock a “hold” rating in a research note on Friday, July 26th. ValuEngine downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, May 21st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Huntington Bancshares has a consensus rating of “Hold” and a consensus target price of $15.63.
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, topping analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Huntington Bancshares had a return on equity of 14.23% and a net margin of 25.77%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 EPS. As a group, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.3 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.48%. This is a boost from Huntington Bancshares’s previous quarterly dividend of $0.14. Huntington Bancshares’s dividend payout ratio is currently 46.67%.
In other news, CEO Stephen D. Steinour purchased 18,000 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were acquired at an average price of $13.33 per share, for a total transaction of $239,940.00. Following the acquisition, the chief executive officer now directly owns 5,142,348 shares in the company, valued at approximately $68,547,498.84. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Paul G. Heller sold 33,772 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $13.08, for a total value of $441,737.76. Following the completion of the sale, the executive vice president now owns 458,479 shares in the company, valued at approximately $5,996,905.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,762 shares of company stock worth $737,450. Insiders own 1.22% of the company’s stock.
Huntington Bancshares Company 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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