Tokio Marine Asset Management Co. Ltd. grew its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 145,795 shares of the bank’s stock after purchasing an additional 8,560 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Huntington Bancshares were worth $2,015,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Brand Asset Management Group Inc. lifted its holdings in shares of Huntington Bancshares by 300.0% in the first quarter. Brand Asset Management Group Inc. now owns 2,000 shares of the bank’s stock valued at $59,000 after purchasing an additional 1,500 shares in the last quarter. Cornerstone Advisors Inc. lifted its holdings 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 purchasing an additional 1,189 shares in the last quarter. Trustcore Financial Services LLC bought a new stake in Huntington Bancshares during the first quarter worth about $39,000. Destination Wealth Management bought a new stake in Huntington Bancshares during the first quarter worth about $46,000. Finally, Bremer Bank National Association bought a new stake in Huntington Bancshares during the first quarter worth about $53,000. Institutional investors own 75.52% of the company’s stock.
In other Huntington Bancshares news, CEO Stephen D. Steinour acquired 18,000 shares of the company’s stock in a transaction on Friday, May 17th. The shares were purchased at an average price of $13.33 per share, for a total transaction of $239,940.00. Following the completion of the purchase, the chief executive officer now directly owns 5,142,348 shares of the company’s stock, valued at $68,547,498.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Paul G. Heller sold 33,772 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $13.08, for a total value of $441,737.76. Following the completion of the transaction, the executive vice president now directly owns 458,479 shares in the company, valued at approximately $5,996,905.32. The disclosure for this sale can be found here. 1.22% of the stock is owned by corporate insiders.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, July 25th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. Huntington Bancshares had a return on equity of 14.23% and a net margin of 25.77%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.30 earnings per share. On average, equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.3 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be paid a $0.15 dividend. This is a positive change from Huntington Bancshares’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 4.67%. Huntington Bancshares’s dividend payout ratio is currently 46.67%.
Several research firms recently issued reports on HBAN. Nomura set a $14.00 target price on Huntington Bancshares and gave the stock a “hold” rating in a report on Friday, July 26th. BidaskClub upgraded Huntington Bancshares from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Zacks Investment Research upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, May 21st. Macquarie lowered Huntington Bancshares from a “neutral” rating to an “underperform” rating and set a $13.78 target price on the stock. in a report on Friday, July 12th. Finally, Argus began coverage on Huntington Bancshares in a report on Friday, May 31st. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $15.63.
About Huntington Bancshares
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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