Huntington Bancshares Incorporated (HBAN) Stake Held by Schmidt P J Investment Management Inc.

Schmidt P J Investment Management Inc. maintained its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the second quarter, Holdings Channel reports. The firm owned 10,500 shares of the bank’s stock at the end of the second quarter. Schmidt P J Investment Management Inc.’s holdings in Huntington Bancshares were worth $142,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Huntington Bancshares by 3.8% in the first quarter. Vanguard Group Inc. now owns 107,431,420 shares of the bank’s stock worth $1,438,506,000 after buying an additional 3,937,628 shares in the last quarter. FMR LLC raised its position in Huntington Bancshares by 21.4% in the first quarter. FMR LLC now owns 98,004,607 shares of the bank’s stock worth $1,312,281,000 after buying an additional 17,263,771 shares in the last quarter. BlackRock Inc. raised its position in Huntington Bancshares by 2,879.7% in the first quarter. BlackRock Inc. now owns 68,761,543 shares of the bank’s stock worth $920,719,000 after buying an additional 66,453,890 shares in the last quarter. Boston Partners raised its position in Huntington Bancshares by 29.5% in the first quarter. Boston Partners now owns 34,218,873 shares of the bank’s stock worth $458,191,000 after buying an additional 7,804,639 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Huntington Bancshares by 6.5% in the first quarter. Wellington Management Group LLP now owns 18,405,607 shares of the bank’s stock worth $246,451,000 after buying an additional 1,121,927 shares in the last quarter. 75.30% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Incorporated (NASDAQ HBAN) traded down 4.35% during trading on Friday, reaching $12.97. 22,572,749 shares of the company’s stock traded hands. The stock has a market cap of $14.14 billion, a price-to-earnings ratio of 17.96 and a beta of 1.37. The company’s 50 day moving average is $13.30 and its 200-day moving average is $13.34. Huntington Bancshares Incorporated has a 52-week low of $9.10 and a 52-week high of $14.74.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.03. Huntington Bancshares had a return on equity of 11.07% and a net margin of 17.54%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the business posted $0.19 earnings per share. On average, analysts anticipate that Huntington Bancshares Incorporated will post $0.93 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 18th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, September 15th. Huntington Bancshares’s dividend payout ratio (DPR) is 46.38%.

Huntington Bancshares declared that its board has authorized a stock buyback program on Wednesday, June 28th that authorizes the company to repurchase $308.00 million in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

A number of equities analysts recently commented on HBAN shares. BidaskClub raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. BMO Capital Markets reaffirmed a “buy” rating and set a $16.00 price target on shares of Huntington Bancshares in a research report on Friday, June 9th. Instinet reaffirmed a “buy” rating and set a $16.00 price target (up from $15.00) on shares of Huntington Bancshares in a research report on Wednesday, July 12th. Morgan Stanley lowered their price target on shares of Huntington Bancshares from $14.00 to $13.75 and set an “equal weight” rating on the stock in a research report on Tuesday, June 6th. Finally, Keefe, Bruyette & Woods set a $14.00 price target on shares of Huntington Bancshares and gave the stock a “hold” rating in a research report on Monday, April 3rd. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $14.82.

In related news, EVP Paul G. Heller sold 35,720 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $12.93, for a total value of $461,859.60. Following the transaction, the executive vice president now directly owns 443,883 shares in the company, valued at $5,739,407.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Andrew J. Harmening acquired 15,490 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was bought at an average price of $12.92 per share, for a total transaction of $200,130.80. Following the completion of the transaction, the executive vice president now owns 35,543 shares of the company’s stock, valued at approximately $459,215.56. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by corporate insiders.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.

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