Sumitomo Mitsui DS Asset Management Company Ltd buys 1,798 shares of Huntington Bancshares Incorporated (NASDAQ: HBAN)
Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Huntington Bancshares Incorporated (NASDAQ: HBAN – Get a rating) by 1.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor held 149,242 shares of the bank after purchasing an additional 1,798 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Huntington Bancshares were worth $2,182,000 when it was last filed with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also been buying and selling shares of the company recently. UBS Asset Management Americas Inc. increased its stake in Huntington Bancshares by 8.1% during the third quarter. UBS Asset Management Americas Inc. now owns 8,802,752 shares of the bank valued at $136,091,000 after buying an additional 660,506 shares in the last quarter. Jefferies Group LLC acquired a new stock position in Huntington Bancshares in Q3 worth $248,000. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Huntington Bancshares by 49.3% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 4,681 shares of the bank valued at $72,000 after buying 1,545 additional shares last quarter. HBW Advisory Services LLC increased its stake in shares of Huntington Bancshares by 3.8% in the 4th quarter. HBW Advisory Services LLC now owns 24,696 shares of the bank valued at $381,000 after buying 911 additional shares last quarter. Finally, DNB Asset Management AS increased its stake in shares of Huntington Bancshares by 3.6% in the 4th quarter. DNB Asset Management AS now owns 254,934 shares in the bank valued at $3,931,000 after buying an additional 8,837 shares last quarter. 79.26% of the shares are held by institutional investors and hedge funds.
HBAN has been the subject of a number of recent research reports. Bank of America cut shares of Huntington Bancshares from a “buy” rating to a “neutral” rating and set a price target of $16.00 for the company. in a Friday, April 8 research note. Goldman Sachs Group lowered its price target on shares of Huntington Bancshares from $17.50 to $14.50 and set a “buy” rating for the company in a Tuesday, May 31 research report. StockNews.com upgraded Huntington Bancshares shares from a “sell” to a “hold” rating in a Friday, April 22 research report. Raymond James lowered his price target on shares of Huntington Bancshares from $19.00 to $18.00 and set a “Strong Buy” rating for the company in a research report on Friday, April 22. Finally, Keefe, Bruyette & Woods downgraded Huntington Bancshares shares from a “market performing” rating to an “underperforming” rating and lowered their target price for the stock from $17.00 to 15 $.00 in a Thursday, June 2, research report. Three analysts gave the stock a sell rating, five gave the stock a hold rating, three gave the stock a buy rating and one gave the stock a strong buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $15.95.
Shares of NASDAQ: HBAN opened at $12.03 on Friday. The company has a market capitalization of $17.31 billion, a P/E ratio of 10.28 and a beta of 1.18. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt ratio of 0.40. Huntington Bancshares Incorporated has a 12-month low of $11.73 and a 12-month high of $17.79. The company’s 50-day moving average price is $13.08 and its two-hundred-day moving average price is $14.55.
Huntington Bench Shares (NASDAQ: HBAN – Get a rating) last reported results on Thursday, April 21. The bank reported earnings per share (EPS) of $0.32 for the quarter, beating the consensus estimate of $0.31 by $0.01. The company posted revenue of $1.65 billion for the quarter, versus analyst estimates of $1.63 billion. Huntington Bancshares had a net margin of 26.96% and a return on equity of 12.19%. The company’s revenue for the quarter increased 20.3% on an annual basis. In the same quarter last year, the company achieved EPS of $0.48. As a group, stock analysts predict Huntington Bancshares Incorporated will post 1.42 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 1. Shareholders of record on Friday, June 17 will receive a dividend of $0.155. This represents an annualized dividend of $0.62 and a dividend yield of 5.15%. The ex-dividend date is Thursday, June 16. Huntington Bancshares’ dividend payout ratio (DPR) is currently 52.99%.
In related news, insider Helga Houston sold 28,166 shares in a trade that took place on Tuesday, May 31. The shares were sold at an average price of $13.77, for a total value of $387,845.82. Following the sale, the insider now directly owns 496,474 shares of the company, valued at approximately $6,836,446.98. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Also, Vice President Steven Lee Rhodes sold 14,705 shares in a trade that took place on Monday, May 2. The shares were sold at an average price of $13.28, for a total transaction of $195,282.40. Following the completion of the sale, the vice president now owns 127,581 shares of the company, valued at $1,694,275.68. Disclosure of this sale can be found here. Insiders sold a total of 48,327 shares of the company worth $657,985 during the last quarter. 0.72% of the shares are currently held by insiders.
Huntington Bancshares Company Profile (Get a rating)
Huntington Bancshares Incorporated operates as a bank holding company for Huntington National Bank which provides commercial, consumer and mortgage banking services in the United States. The Company operates through four segments: Personal and Commercial Banking; The Commercial Bank; Vehicle financing; and Regional Banking and The Huntington Private Client Group (RBHPCG).
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