Global X Management Co. LLC cut its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 3.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 43,947 shares of the bank’s stock after selling 1,462 shares during the period. Global X Management Co. LLC’s holdings in Huntington Bancshares were worth $594,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Advisor Partners LLC boosted its stake in shares of Huntington Bancshares by 6.8% in the second quarter. Advisor Partners LLC now owns 17,626 shares of the bank’s stock worth $238,000 after buying an additional 1,127 shares during the last quarter. Endurance Wealth Management Inc. raised its position in Huntington Bancshares by 1.3% in the second quarter. Endurance Wealth Management Inc. now owns 843,379 shares of the bank’s stock worth $11,402,000 after buying an additional 11,000 shares during the period. Chicago Partners Investment Group LLC purchased a new position in Huntington Bancshares during the second quarter worth about $134,000. Retirement Systems of Alabama raised its position in Huntington Bancshares by 0.4% in the second quarter. Retirement Systems of Alabama now owns 527,093 shares of the bank’s stock worth $7,126,000 after buying an additional 2,196 shares during the period. Finally, IFP Advisors Inc raised its position in Huntington Bancshares by 29.5% in the second quarter. IFP Advisors Inc now owns 80,631 shares of the bank’s stock worth $1,090,000 after buying an additional 18,384 shares during the period. 74.54% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) opened at 13.00 on Thursday. The firm has a market cap of $14.17 billion, a P/E ratio of 18.01 and a beta of 1.37. Huntington Bancshares Incorporated has a 12 month low of $9.40 and a 12 month high of $14.74. The firm has a 50-day moving average of $13.38 and a 200 day moving average of $13.31.
Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, July 21st. The bank reported $0.26 earnings per share for the quarter, topping 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 period in the previous year, the company earned $0.19 EPS. On average, equities research analysts anticipate that Huntington Bancshares Incorporated will post $0.92 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Friday, September 15th. Huntington Bancshares’s dividend payout ratio is currently 46.38%.
Huntington Bancshares declared that its Board of Directors has approved a stock buyback program on Wednesday, June 28th that allows the company to repurchase $308.00 million in outstanding shares. This repurchase authorization allows the bank to repurchase 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 stock is undervalued.
A number of research analysts have issued reports on HBAN shares. FBR & Co restated a “mkt perform” rating and issued a $14.00 target price (down from $15.00) on shares of Huntington Bancshares in a report on Thursday, April 20th. Piper Jaffray Companies restated a “neutral” rating and issued a $14.00 target price (down from $14.50) on shares of Huntington Bancshares in a report on Saturday, April 22nd. BMO Capital Markets restated a “buy” rating and issued a $16.00 target price on shares of Huntington Bancshares in a report on Friday, April 28th. Morgan Stanley reduced their target price on shares of Huntington Bancshares from $14.00 to $13.75 and set an “equal weight” rating on the stock in a report on Tuesday, June 6th. Finally, BidaskClub upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $14.96.
In other Huntington Bancshares news, Director Richard W. Neu purchased 2,450 shares of the company’s stock in a transaction on Friday, July 28th. The shares were bought at an average cost of $13.10 per share, with a total value of $32,095.00. Following the transaction, the director now directly owns 184,596 shares in the company, valued at approximately $2,418,207.60. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.
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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