MCF Advisors LLC continued to hold its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 11,759 shares of the bank’s stock at the end of the second quarter. MCF Advisors LLC’s holdings in Huntington Bancshares were worth $159,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in HBAN. City Holding Co. increased its position in shares of Huntington Bancshares by 17.5% in the first quarter. City Holding Co. now owns 8,057 shares of the bank’s stock valued at $108,000 after buying an additional 1,200 shares during the period. Bronfman E.L. Rothschild L.P. increased its position in shares of Huntington Bancshares by 371.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 9,548 shares of the bank’s stock valued at $128,000 after buying an additional 7,521 shares during the period. Moody Lynn & Lieberson LLC purchased a new position in shares of Huntington Bancshares during the first quarter valued at about $134,000. Sigma Planning Corp purchased a new position in shares of Huntington Bancshares during the first quarter valued at about $137,000. Finally, Affinity Wealth Management purchased a new position in shares of Huntington Bancshares during the first quarter valued at about $141,000. 75.51% of the stock is owned by institutional investors.
Shares of Huntington Bancshares Incorporated (NASDAQ HBAN) opened at 13.12 on Friday. The company has a 50 day moving average price of $13.38 and a 200 day moving average price of $13.33. Huntington Bancshares Incorporated has a 52 week low of $9.21 and a 52 week high of $14.74. The company has a market cap of $14.30 billion, a PE ratio of 18.17 and a beta of 1.37.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, July 21st. The bank reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. Huntington Bancshares had a return on equity of 11.39% and a net margin of 18.41%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the firm earned $0.19 EPS. On average, equities analysts expect that Huntington Bancshares Incorporated will post $0.92 earnings per share for the current year.
Huntington Bancshares declared that its Board of Directors has initiated a share repurchase program on Wednesday, June 28th that permits the company to repurchase $308.00 million in shares. This repurchase authorization permits the bank to reacquire up to 2.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 18th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, September 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.44%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 46.38%.
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Several brokerages have recently issued reports on HBAN. Piper Jaffray Companies reissued a “neutral” rating and set a $14.00 price target (down previously from $14.50) on shares of Huntington Bancshares in a report on Saturday, April 22nd. Deutsche Bank AG reissued a “buy” rating on shares of Huntington Bancshares in a report on Monday, July 3rd. Zacks Investment Research raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Tuesday, April 11th. Jefferies Group LLC raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $16.00 in a report on Monday, April 3rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $15.00 price objective (down previously from $16.00) on shares of Huntington Bancshares in a report on Friday, July 21st. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $14.90.
In other news, EVP Andrew J. Harmening bought 15,490 shares of the stock in a transaction on Monday, May 15th. The stock was acquired at an average price of $12.92 per share, with a total value of $200,130.80. Following the acquisition, the executive vice president now directly owns 35,543 shares in the company, valued at $459,215.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Stephen D. Steinour bought 50,000 shares of the stock in a transaction on Thursday, May 18th. The stock was purchased at an average cost of $12.40 per share, with a total value of $620,000.00. Following the acquisition, the chief executive officer now owns 3,891,831 shares in the company, valued at $48,258,704.40. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by 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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