Envestnet Asset Management Inc. lessened its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 17.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,039 shares of the bank’s stock after selling 31,479 shares during the period. Envestnet Asset Management Inc.’s holdings in Huntington Bancshares were worth $2,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HBAN. Wetherby Asset Management Inc. boosted its stake in Huntington Bancshares by 6.1% in the second quarter. Wetherby Asset Management Inc. now owns 18,091 shares of the bank’s stock valued at $245,000 after acquiring an additional 1,047 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Huntington Bancshares by 4.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 4,902,898 shares of the bank’s stock valued at $66,288,000 after acquiring an additional 229,192 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in Huntington Bancshares by 8.7% in the second quarter. Wedge Capital Management L L P NC now owns 80,024 shares of the bank’s stock valued at $1,082,000 after acquiring an additional 6,407 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Huntington Bancshares by 4.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 80,944 shares of the bank’s stock valued at $1,147,000 after acquiring an additional 3,219 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in Huntington Bancshares by 6.9% in the second quarter. Advisors Asset Management Inc. now owns 189,071 shares of the bank’s stock valued at $2,556,000 after acquiring an additional 12,167 shares in the last quarter. Institutional investors own 73.77% of the company’s stock.
Several research firms have issued reports on HBAN. Piper Jaffray Companies restated a “buy” rating and issued a $15.50 price objective on shares of Huntington Bancshares in a research note on Tuesday, October 17th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $16.00 target price on shares of Huntington Bancshares in a report on Friday, September 8th. JMP Securities initiated coverage on shares of Huntington Bancshares in a report on Thursday, August 31st. They issued an “outperform” rating and a $15.00 target price for the company. Sanford C. Bernstein raised shares of Huntington Bancshares from a “market perform” rating to an “outperform” rating and upped their target price for the company from $15.00 to $17.00 in a report on Thursday, September 14th. Finally, Morgan Stanley upped their target price on shares of Huntington Bancshares from $14.50 to $16.50 and gave the company an “equal weight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. Huntington Bancshares presently has a consensus rating of “Buy” and an average target price of $15.63.
In related news, insider Helga Houston sold 14,513 shares of the stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $13.77, for a total transaction of $199,844.01. Following the completion of the transaction, the insider now directly owns 499,824 shares of the company’s stock, valued at $6,882,576.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel J. Neumeyer sold 43,491 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $13.88, for a total transaction of $603,655.08. Following the transaction, the executive vice president now directly owns 427,270 shares of the company’s stock, valued at $5,930,507.60. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) opened at $14.58 on Friday. Huntington Bancshares Incorporated has a 1-year low of $12.14 and a 1-year high of $14.93. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. The company has a market cap of $15,760.19, a PE ratio of 15.19, a PEG ratio of 1.66 and a beta of 1.33.
Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Wednesday, October 25th. The bank reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Huntington Bancshares had a net margin of 20.76% and a return on equity of 11.96%. During the same period in the previous year, the company posted $0.11 earnings per share. sell-side analysts anticipate that Huntington Bancshares Incorporated will post 0.98 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 18th will be issued a dividend of $0.11 per share. This is a boost from Huntington Bancshares’s previous quarterly dividend of $0.08. This represents a $0.44 annualized dividend and a yield of 3.02%. The ex-dividend date is Friday, December 15th. Huntington Bancshares’s dividend payout ratio is currently 39.51%.
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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.
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