Meeder Asset Management Inc. raised its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 77.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 209,930 shares of the bank’s stock after purchasing an additional 91,851 shares during the period. Meeder Asset Management Inc.’s holdings in Huntington Bancshares were worth $3,131,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of HBAN. Conning Inc. boosted its stake in Huntington Bancshares by 6,415.4% during the 3rd quarter. Conning Inc. now owns 2,265,666 shares of the bank’s stock valued at $33,804,000 after purchasing an additional 2,230,892 shares during the last quarter. Stelliam Investment Management LP purchased a new stake in Huntington Bancshares during the 2nd quarter valued at $32,620,000. Janus Henderson Group PLC boosted its stake in Huntington Bancshares by 437.2% during the 2nd quarter. Janus Henderson Group PLC now owns 2,572,833 shares of the bank’s stock valued at $37,976,000 after purchasing an additional 2,093,922 shares during the last quarter. LSV Asset Management boosted its stake in Huntington Bancshares by 45,997.9% during the 2nd quarter. LSV Asset Management now owns 1,705,623 shares of the bank’s stock valued at $25,174,000 after purchasing an additional 1,701,923 shares during the last quarter. Finally, Zacks Investment Management purchased a new stake in Huntington Bancshares during the 2nd quarter valued at $25,096,000. Institutional investors and hedge funds own 73.99% of the company’s stock.
Shares of Huntington Bancshares stock opened at $14.37 on Tuesday. Huntington Bancshares Incorporated has a one year low of $13.04 and a one year high of $16.60. The firm has a market capitalization of $15.17 billion, a P/E ratio of 14.66, a P/E/G ratio of 0.80 and a beta of 1.26. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.96.
Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Tuesday, October 23rd. The bank reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. Huntington Bancshares had a return on equity of 13.73% and a net margin of 29.13%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the firm earned $0.25 EPS. Huntington Bancshares’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, analysts forecast that Huntington Bancshares Incorporated will post 1.22 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Tuesday, December 18th will be issued a $0.14 dividend. The ex-dividend date is Monday, December 17th. This represents a $0.56 dividend on an annualized basis and a yield of 3.90%. Huntington Bancshares’s dividend payout ratio is currently 57.14%.
HBAN has been the topic of several recent analyst reports. Zacks Investment Research downgraded Huntington Bancshares from a “buy” rating to a “hold” rating in a research note on Monday, October 1st. Morgan Stanley reiterated a “hold” rating and set a $17.50 target price (down from $17.75) on shares of Huntington Bancshares in a research note on Tuesday, September 18th. Piper Jaffray Companies reiterated a “buy” rating and set a $16.50 target price on shares of Huntington Bancshares in a research note on Thursday, July 26th. ValuEngine downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Friday. Finally, BidaskClub downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $17.13.
In other Huntington Bancshares news, CFO Howell D. Mccullough III sold 68,777 shares of the firm’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $16.17, for a total transaction of $1,112,124.09. Following the sale, the chief financial officer now directly owns 720,413 shares of the company’s stock, valued at $11,649,078.21. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Stephen D. Steinour purchased 17,493 shares of the firm’s stock in a transaction on Thursday, October 25th. The shares were acquired at an average cost of $13.48 per share, for a total transaction of $235,805.64. Following the completion of the acquisition, the chief executive officer now owns 4,768,399 shares of the company’s stock, valued at $64,278,018.52. The disclosure for this purchase can be found here. 1.05% of the stock is currently owned by company insiders.
TRADEMARK VIOLATION WARNING: “Meeder Asset Management Inc. Has $3.13 Million Position in Huntington Bancshares Incorporated (HBAN)” was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this news story on another publication, it was copied illegally and republished in violation of international copyright law. The original version of this news story can be viewed at https://www.dispatchtribunal.com/2018/11/06/meeder-asset-management-inc-has-3-13-million-position-in-huntington-bancshares-incorporated-hban.html.
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.
See Also: Return on Investment (ROI)
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