Brasada Capital Management LP purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 30,000 shares of the bank’s stock, valued at approximately $448,000.
A number of other institutional investors also recently added to or reduced their stakes in HBAN. Columbia Asset Management purchased a new position in Huntington Bancshares in the 3rd quarter valued at $103,000. NuWave Investment Management LLC lifted its holdings in Huntington Bancshares by 5,991.8% in the 3rd quarter. NuWave Investment Management LLC now owns 8,894 shares of the bank’s stock valued at $133,000 after purchasing an additional 8,748 shares in the last quarter. Dupont Capital Management Corp lifted its holdings in Huntington Bancshares by 79.3% in the 2nd quarter. Dupont Capital Management Corp now owns 9,657 shares of the bank’s stock valued at $143,000 after purchasing an additional 4,270 shares in the last quarter. GAM Holding AG purchased a new position in Huntington Bancshares in the 2nd quarter valued at $154,000. Finally, Donaldson Capital Management LLC purchased a new position in Huntington Bancshares in the 3rd quarter valued at $172,000. 77.16% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO Howell D. Mccullough III sold 68,777 shares of Huntington Bancshares stock in a transaction on 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 transaction, the chief financial officer now owns 720,413 shares in the company, valued at approximately $11,649,078.21. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Helga Houston sold 42,608 shares of Huntington Bancshares stock in a transaction on Tuesday, November 13th. The stock was sold at an average price of $14.66, for a total value of $624,633.28. The disclosure for this sale can be found here. 1.05% of the stock is owned by insiders.
NASDAQ HBAN opened at $14.78 on Friday. Huntington Bancshares Incorporated has a 52 week low of $13.13 and a 52 week high of $16.60. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.89 and a current ratio of 0.90. The firm has a market cap of $15.47 billion, a PE ratio of 15.08, a P/E/G ratio of 0.82 and a beta of 1.26.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.33 EPS for the quarter, topping the 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 business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the firm earned $0.25 EPS. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. Sell-side analysts expect that Huntington Bancshares Incorporated will post 1.21 earnings per share 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 issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, December 17th. This represents a $0.56 annualized dividend and a dividend yield of 3.79%. Huntington Bancshares’s dividend payout ratio is presently 57.14%.
A number of research analysts have weighed in on the company. BidaskClub lowered Huntington Bancshares from a “buy” rating to a “hold” rating in a report on Thursday, September 13th. Jefferies Financial Group raised their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, August 8th. Zacks Investment Research lowered Huntington Bancshares from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Morgan Stanley restated a “hold” rating and issued a $17.50 price objective (down previously from $17.75) on shares of Huntington Bancshares in a report on Tuesday, September 18th. Finally, Vining Sparks restated a “buy” rating and issued a $19.00 price objective on shares of Huntington Bancshares in a report on Tuesday, October 9th. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $17.03.
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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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