Meeder Asset Management Inc. lowered its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 71.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,796 shares of the bank’s stock after selling 29,169 shares during the period. Meeder Asset Management Inc.’s holdings in Huntington Bancshares were worth $159,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. City Holding Co. increased its stake in Huntington Bancshares by 17.5% in the first quarter. City Holding Co. now owns 8,057 shares of the bank’s stock worth $108,000 after buying an additional 1,200 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in Huntington Bancshares by 371.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 9,548 shares of the bank’s stock worth $128,000 after buying an additional 7,521 shares during the last quarter. Moody Lynn & Lieberson LLC purchased a new stake in Huntington Bancshares during the first quarter worth approximately $134,000. YG Partners LLC purchased a new stake in Huntington Bancshares during the first quarter worth approximately $2,039,000. Finally, Sigma Planning Corp purchased a new stake in Huntington Bancshares during the first quarter worth approximately $137,000. Institutional investors own 74.54% of the company’s stock.
Huntington Bancshares Incorporated (NASDAQ HBAN) traded up 0.16% during midday trading on Friday, reaching $12.66. The company’s stock had a trading volume of 7,073,309 shares. The stock’s 50-day moving average price is $13.34 and its 200-day moving average price is $13.30. The firm has a market capitalization of $13.80 billion, a price-to-earnings ratio of 17.53 and a beta of 1.37. Huntington Bancshares Incorporated has a 12 month low of $9.46 and a 12 month high of $14.74.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, July 21st. The bank reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.03. Huntington Bancshares had a return on equity of 11.39% and a net margin of 18.41%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the company earned $0.19 earnings per share. Analysts predict that Huntington Bancshares Incorporated will post $0.92 EPS for the current year.
Huntington Bancshares declared that its board has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $308.00 million in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 2.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.32 annualized dividend and a yield of 2.53%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 46.38%.
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A number of analysts have commented on the company. Keefe, Bruyette & Woods set a $14.00 target price on Huntington Bancshares and gave the stock a “hold” rating in a research report on Friday, August 11th. Piper Jaffray Companies raised Huntington Bancshares from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $14.00 to $15.00 in a report on Friday, August 11th. BidaskClub cut Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. BMO Capital Markets reissued a “buy” rating and issued a $16.00 price target on shares of Huntington Bancshares in a report on Friday, June 9th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $16.00 price target on shares of Huntington Bancshares in a report on Thursday, July 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $14.96.
In related news, Director Richard W. Neu bought 2,450 shares of the business’s stock in a transaction on Friday, July 28th. The shares were bought at an average cost of $13.10 per share, for a total transaction of $32,095.00. Following the completion of the acquisition, the director now directly owns 184,596 shares in the company, valued at $2,418,207.60. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is owned by company insiders.
Huntington Bancshares Company Profile
Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.
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