Janney Capital Management LLC lessened its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 10.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,728 shares of the bank’s stock after selling 6,679 shares during the quarter. Janney Capital Management LLC’s holdings in Huntington Bancshares were worth $745,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. HC Financial Advisors Inc. grew its position in Huntington Bancshares by 11.3% during the 3rd quarter. HC Financial Advisors Inc. now owns 147,049 shares of the bank’s stock worth $2,194,000 after purchasing an additional 14,965 shares during the last quarter. Bank of New York Mellon Corp grew its position in Huntington Bancshares by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,671,432 shares of the bank’s stock worth $129,377,000 after purchasing an additional 98,561 shares during the last quarter. Mackenzie Financial Corp grew its position in Huntington Bancshares by 28.5% during the 3rd quarter. Mackenzie Financial Corp now owns 22,182 shares of the bank’s stock worth $331,000 after purchasing an additional 4,916 shares during the last quarter. Kentucky Retirement Systems purchased a new stake in Huntington Bancshares during the 3rd quarter worth approximately $662,000. Finally, Teachers Advisors LLC grew its position in Huntington Bancshares by 1.4% during the 3rd quarter. Teachers Advisors LLC now owns 7,288,844 shares of the bank’s stock worth $108,750,000 after purchasing an additional 102,903 shares during the last quarter. Institutional investors own 78.03% of the company’s stock.
Shares of Huntington Bancshares stock traded up $0.15 during trading hours on Friday, reaching $13.21. 6,994,658 shares of the company’s stock were exchanged, compared to its average volume of 12,791,594. Huntington Bancshares Incorporated has a 1 year low of $11.12 and a 1 year high of $16.52. The firm has a market capitalization of $13.95 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 1.13 and a beta of 1.37. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.92.
Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, April 25th. The bank reported $0.32 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.32. Huntington Bancshares had a net margin of 26.24% and a return on equity of 14.20%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the firm earned $0.28 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, research analysts anticipate that Huntington Bancshares Incorporated will post 1.32 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend is Friday, June 14th. Huntington Bancshares’s payout ratio is 46.67%.
In related news, EVP Richard Remiker sold 18,386 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $14.02, for a total value of $257,771.72. Following the completion of the sale, the executive vice president now owns 357,085 shares of the company’s stock, valued at $5,006,331.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen D. Steinour acquired 18,000 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was purchased at an average cost of $13.33 per share, with a total value of $239,940.00. Following the acquisition, the chief executive officer now directly owns 5,142,348 shares of the company’s stock, valued at approximately $68,547,498.84. The disclosure for this purchase can be found here. Insiders have sold 75,225 shares of company stock valued at $1,022,768 in the last ninety days. Insiders own 1.22% of the company’s stock.
Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, May 6th. ValuEngine upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Jefferies Financial Group cut shares of Huntington Bancshares from a “buy” rating to a “hold” rating and set a $14.00 price objective for the company. in a research note on Monday, January 28th. Vining Sparks restated a “buy” rating and set a $18.00 price objective on shares of Huntington Bancshares in a research note on Thursday, January 24th. Finally, BidaskClub cut shares of Huntington Bancshares from a “sell” rating to a “strong sell” rating in a research note on Monday, February 4th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $16.10.
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Huntington Bancshares Profile
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 operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).
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