US Bancorp DE cut its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 14.9% during the second quarter, Holdings Channel reports. The institutional investor owned 266,758 shares of the bank’s stock after selling 46,729 shares during the period. US Bancorp DE’s holdings in Huntington Bancshares were worth $3,607,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. 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 in the last quarter. 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 in the last quarter. Moody Lynn & Lieberson LLC bought a new position in shares of Huntington Bancshares during the first quarter valued at approximately $134,000. YG Partners LLC bought a new position in shares of Huntington Bancshares during the first quarter valued at approximately $2,039,000. Finally, Sigma Planning Corp bought a new position in shares of Huntington Bancshares during the first quarter valued at approximately $137,000. Institutional investors and hedge funds own 75.51% of the company’s stock.
Shares of Huntington Bancshares Incorporated (HBAN) traded up 0.38% during mid-day trading on Friday, hitting $13.17. The stock had a trading volume of 7,231,729 shares. Huntington Bancshares Incorporated has a 12 month low of $9.21 and a 12 month high of $14.74. The stock’s 50-day moving average is $13.38 and its 200 day moving average is $13.33. The company has a market cap of $14.36 billion, a PE ratio of 18.24 and a beta of 1.37.
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 11.39% and a net margin of 18.41%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the business earned $0.19 EPS. On average, equities research analysts forecast that Huntington Bancshares Incorporated will post $0.92 earnings per share for the current fiscal year.
Huntington Bancshares declared that its Board of Directors has authorized a stock buyback plan on Wednesday, June 28th that allows the company to repurchase $308.00 million in shares. This repurchase authorization allows the bank to reacquire up to 2.2% of its stock through open market purchases. Stock repurchase plans 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. Investors of record on Monday, September 18th will be paid a $0.08 dividend. The ex-dividend date is Friday, September 15th. This represents a $0.32 annualized dividend and a dividend yield of 2.43%. Huntington Bancshares’s dividend payout ratio is presently 46.38%.
ILLEGAL ACTIVITY WARNING: This report was first reported by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this report on another domain, it was copied illegally and reposted in violation of U.S. & international copyright law. The correct version of this report can be accessed at https://stocknewstimes.com/2017/07/29/us-bancorp-de-has-3-61-million-stake-in-huntington-bancshares-incorporated-hban.html.
Several brokerages have commented on HBAN. BidaskClub downgraded Huntington Bancshares from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Royal Bank Of Canada restated a “buy” rating and issued a $16.00 target price on shares of Huntington Bancshares in a research note on Thursday. Keefe, Bruyette & Woods set a $14.00 target price on Huntington Bancshares and gave the stock a “hold” rating in a research note on Saturday, June 24th. Hilliard Lyons upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their target price for the stock from $14.00 to $15.00 in a research note on Monday, July 24th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $15.00 target price (down previously from $16.00) on shares of Huntington Bancshares in a research note on Friday, July 21st. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $14.90.
In related news, EVP Paul G. Heller sold 35,720 shares of Huntington Bancshares stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $12.93, for a total value of $461,859.60. Following the completion of the transaction, the executive vice president now owns 443,883 shares in the company, valued at approximately $5,739,407.19. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard W. Neu purchased 2,450 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was acquired at an average price of $13.10 per share, with a total value of $32,095.00. Following the purchase, the director now owns 184,596 shares in the company, valued at $2,418,207.60. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 67,940 shares of company stock valued at $852,226. 1.30% of the stock is owned by company insiders.
About Huntington Bancshares
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.
Want to see what other hedge funds are holding HBAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Huntington Bancshares Incorporated (NASDAQ:HBAN).
Receive News & Ratings for Huntington Bancshares Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Huntington Bancshares Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.
