ClariVest Asset Management LLC grew its stake in Huntington Bancshares (NASDAQ:HBAN) by 13.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,900 shares of the bank’s stock after acquiring an additional 4,300 shares during the period. ClariVest Asset Management LLC’s holdings in Huntington Bancshares were worth $542,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Macquarie Group Ltd. raised its stake in shares of Huntington Bancshares by 18.7% in the fourth quarter. Macquarie Group Ltd. now owns 847,190 shares of the bank’s stock worth $13,892,000 after acquiring an additional 133,654 shares during the last quarter. CIBC World Markets Inc. bought a new position in shares of Huntington Bancshares in the fourth quarter worth about $201,000. Wells Fargo & Company MN raised its stake in shares of Huntington Bancshares by 19.6% in the fourth quarter. Wells Fargo & Company MN now owns 4,610,414 shares of the bank’s stock worth $67,128,000 after acquiring an additional 754,308 shares during the last quarter. Ferris Capital LLC bought a new position in shares of Huntington Bancshares in the fourth quarter worth about $444,000. Finally, Mackenzie Financial Corp bought a new position in shares of Huntington Bancshares in the fourth quarter worth about $20,189,000. 75.26% of the stock is owned by institutional investors.
HBAN has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Huntington Bancshares from a “buy” rating to a “hold” rating in a research note on Thursday, April 5th. Nomura dropped their target price on shares of Huntington Bancshares from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, April 25th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $17.00 target price on shares of Huntington Bancshares in a research note on Tuesday, February 27th. JPMorgan Chase boosted their target price on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Finally, Hilliard Lyons downgraded shares of Huntington Bancshares from a “buy” rating to a “neutral” rating and set a $17.00 target price for the company. in a research note on Wednesday, January 24th. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $16.98.
Shares of NASDAQ:HBAN opened at $15.22 on Tuesday. Huntington Bancshares has a one year low of $12.14 and a one year high of $16.60. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.85. The company has a market cap of $16.66 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.05 and a beta of 1.34.
Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Tuesday, April 24th. The bank reported $0.28 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.28. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Huntington Bancshares had a net margin of 26.97% and a return on equity of 12.64%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.21 earnings per share. equities research analysts forecast that Huntington Bancshares will post 1.21 earnings per share for the current fiscal 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 issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Friday, June 15th. Huntington Bancshares’s dividend payout ratio is currently 44.90%.
In related news, EVP Paul G. Heller sold 28,251 shares of the business’s stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $15.28, for a total transaction of $431,675.28. Following the completion of the transaction, the executive vice president now owns 463,412 shares in the company, valued at $7,080,935.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Daniel J. Neumeyer sold 25,178 shares of the business’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $15.13, for a total transaction of $380,943.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,387 shares of company stock valued at $841,088. Corporate insiders own 1.05% of the company’s stock.
Huntington Bancshares Profile
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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