Global Retirement Partners LLC increased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 219.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 13,014 shares of the bank’s stock after buying an additional 8,942 shares during the quarter. Global Retirement Partners LLC’s holdings in Huntington Bancshares were worth $194,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Stelliam Investment Management LP bought a new stake in Huntington Bancshares during the second quarter worth about $32,620,000. Janus Henderson Group PLC grew its stake in Huntington Bancshares by 437.2% during the second quarter. Janus Henderson Group PLC now owns 2,572,833 shares of the bank’s stock worth $37,976,000 after buying an additional 2,093,922 shares during the last quarter. LSV Asset Management grew its stake in Huntington Bancshares by 45,997.9% during the second quarter. LSV Asset Management now owns 1,705,623 shares of the bank’s stock worth $25,174,000 after buying an additional 1,701,923 shares during the last quarter. Zacks Investment Management bought a new stake in Huntington Bancshares during the second quarter worth about $25,096,000. Finally, Algebris UK Ltd bought a new stake in Huntington Bancshares during the second quarter worth about $19,907,000. 73.70% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Richard Remiker sold 5,254 shares of the stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $15.55, for a total transaction of $81,699.70. Following the sale, the executive vice president now directly owns 321,462 shares of the company’s stock, valued at $4,998,734.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Howell D. Mccullough III sold 68,777 shares of the stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $16.17, for a total transaction of $1,112,124.09. Following the completion of the transaction, the chief financial officer now owns 720,413 shares in the company, valued at $11,649,078.21. The disclosure for this sale can be found here. 1.05% of the stock is owned by corporate insiders.
Several analysts have weighed in on the stock. Zacks Investment Research cut shares of Huntington Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Vining Sparks reaffirmed a “buy” rating and set a $19.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, October 9th. BidaskClub raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, October 8th. Morgan Stanley reaffirmed a “hold” rating and set a $17.50 price objective (down from $17.75) on shares of Huntington Bancshares in a research note on Tuesday, September 18th. Finally, Jefferies Financial Group upped their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, August 8th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $17.25.
HBAN opened at $14.21 on Friday. Huntington Bancshares Incorporated has a one year low of $13.04 and a one year high of $16.60. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.95. The company has a market cap of $15.89 billion, a PE ratio of 13.20, a P/E/G ratio of 0.80 and a beta of 1.35.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Wednesday, July 25th. The bank reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Huntington Bancshares had a net margin of 27.90% and a return on equity of 12.93%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the firm earned $0.26 earnings per share. As a group, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Tuesday, December 18th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.94%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 57.14%.
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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