Alps Advisors Inc. Acquires Shares of 34,670 Huntington Bancshares (HBAN)

Alps Advisors Inc. acquired a new stake in shares of Huntington Bancshares (NASDAQ:HBAN) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 34,670 shares of the bank’s stock, valued at approximately $524,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Schroder Investment Management Group increased its stake in shares of Huntington Bancshares by 16.8% during the fourth quarter. Schroder Investment Management Group now owns 22,882 shares of the bank’s stock valued at $333,000 after acquiring an additional 3,298 shares during the period. New Mexico Educational Retirement Board increased its stake in shares of Huntington Bancshares by 3.7% during the fourth quarter. New Mexico Educational Retirement Board now owns 104,776 shares of the bank’s stock valued at $1,526,000 after acquiring an additional 3,700 shares during the period. Endurance Wealth Management Inc. increased its stake in shares of Huntington Bancshares by 0.6% during the fourth quarter. Endurance Wealth Management Inc. now owns 838,303 shares of the bank’s stock valued at $12,206,000 after acquiring an additional 5,174 shares during the period. Advisor Group Inc. increased its stake in shares of Huntington Bancshares by 6.5% during the fourth quarter. Advisor Group Inc. now owns 84,620 shares of the bank’s stock valued at $1,233,000 after acquiring an additional 5,180 shares during the period. Finally, CIBC Asset Management Inc increased its stake in shares of Huntington Bancshares by 4.5% during the fourth quarter. CIBC Asset Management Inc now owns 122,174 shares of the bank’s stock valued at $1,779,000 after acquiring an additional 5,263 shares during the period. Institutional investors and hedge funds own 74.98% of the company’s stock.

In related news, EVP Nancy E. Maloney sold 1,958 shares of the firm’s stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $14.54, for a total value of $28,469.32. Following the completion of the transaction, the executive vice president now owns 79,646 shares of the company’s stock, valued at approximately $1,158,052.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.05% of the company’s stock.

Huntington Bancshares stock opened at $15.13 on Friday. Huntington Bancshares has a 52 week low of $15.09 and a 52 week high of $15.23. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $16.63 billion, a P/E ratio of 15.44, a PEG ratio of 1.05 and a beta of 1.34.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Tuesday, April 24th. The bank reported $0.28 EPS for the quarter, hitting analysts’ consensus estimates of $0.28. Huntington Bancshares had a net margin of 26.97% and a return on equity of 12.64%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the business posted $0.21 EPS. The company’s revenue was up 3.4% on a year-over-year basis. equities analysts forecast that Huntington Bancshares will post 1.21 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Monday, June 18th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Friday, June 15th. Huntington Bancshares’s dividend payout ratio is 44.90%.

Several research analysts have issued reports on HBAN shares. Zacks Investment Research upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Friday, April 6th. Hilliard Lyons upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Friday, February 9th. BidaskClub lowered shares of Huntington Bancshares from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 28th. Vining Sparks restated a “buy” rating and issued a $19.00 price target on shares of Huntington Bancshares in a research report on Tuesday, January 23rd. Finally, ValuEngine upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Huntington Bancshares has a consensus rating of “Buy” and a consensus price target of $16.98.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company's Consumer and Business Banking segment offers financial products and services, such as checking accounts, savings accounts, money market accounts, certificates of deposit, consumer loans, and small business loans; and investments, mortgages, insurance, interest rate risk protection, and foreign exchange and treasury management services.

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Institutional Ownership by Quarter for Huntington Bancshares (NASDAQ:HBAN)

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