Chevy Chase Trust Holdings Inc. boosted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 956,607 shares of the bank’s stock after buying an additional 17,716 shares during the period. Chevy Chase Trust Holdings Inc. owned about 0.09% of Huntington Bancshares worth $12,933,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in HBAN. BlackRock Inc. raised its position in shares of Huntington Bancshares by 2,879.7% in the first quarter. BlackRock Inc. now owns 68,761,543 shares of the bank’s stock worth $920,719,000 after buying an additional 66,453,890 shares during the last quarter. FMR LLC raised its position in shares of Huntington Bancshares by 21.4% in the first quarter. FMR LLC now owns 98,004,607 shares of the bank’s stock worth $1,312,281,000 after buying an additional 17,263,771 shares during the last quarter. Boston Partners raised its position in shares of Huntington Bancshares by 29.5% in the first quarter. Boston Partners now owns 34,218,873 shares of the bank’s stock worth $458,191,000 after buying an additional 7,804,639 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Huntington Bancshares by 3.8% in the first quarter. Vanguard Group Inc. now owns 107,431,420 shares of the bank’s stock worth $1,438,506,000 after buying an additional 3,937,628 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in shares of Huntington Bancshares by 69.0% in the first quarter. TIAA CREF Investment Management LLC now owns 9,632,505 shares of the bank’s stock worth $128,979,000 after buying an additional 3,932,611 shares during the last quarter. 74.75% of the stock is owned by institutional investors.
Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) traded down 0.70% during trading on Friday, reaching $12.72. 7,865,786 shares of the company traded hands. The firm’s 50-day moving average is $13.37 and its 200-day moving average is $13.33. The stock has a market capitalization of $13.87 billion, a PE ratio of 17.62 and a beta of 1.37. Huntington Bancshares Incorporated has a 12-month low of $9.40 and a 12-month high of $14.74.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, July 21st. The bank reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.03. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the company earned $0.19 EPS. On average, equities analysts predict that Huntington Bancshares Incorporated will post $0.91 earnings per share for the current fiscal year.
Huntington Bancshares declared that its Board of Directors has approved a stock buyback program on Wednesday, June 28th that authorizes the company to repurchase $308.00 million in shares. This repurchase authorization authorizes the bank to purchase up to 2.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be paid a $0.08 dividend. The ex-dividend date is Friday, September 15th. This represents a $0.32 dividend on an annualized basis and a yield of 2.52%. Huntington Bancshares’s dividend payout ratio is presently 46.38%.
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Several equities research analysts have commented on HBAN shares. BidaskClub raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. BMO Capital Markets reaffirmed a “buy” rating and issued a $16.00 target price on shares of Huntington Bancshares in a report on Friday, June 9th. Instinet reaffirmed a “buy” rating and issued a $16.00 target price (up from $15.00) on shares of Huntington Bancshares in a report on Wednesday, July 12th. Morgan Stanley dropped their target price on shares of Huntington Bancshares from $14.00 to $13.75 and set an “equal weight” rating on the stock in a report on Tuesday, June 6th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $16.00 price target on shares of Huntington Bancshares in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $14.96.
In other Huntington Bancshares news, Director Richard W. Neu acquired 2,450 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was bought at an average price of $13.10 per share, with a total value of $32,095.00. Following the purchase, the director now owns 184,596 shares of the company’s stock, valued at $2,418,207.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Andrew J. Harmening acquired 15,490 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was acquired at an average cost of $12.92 per share, with a total value of $200,130.80. Following the purchase, the executive vice president now directly owns 35,543 shares in the company, valued at approximately $459,215.56. The disclosure for this purchase can be found here. In the last three months, insiders acquired 67,940 shares of company stock valued at $852,226. Corporate insiders own 1.30% of the company’s stock.
About Huntington Bancshares
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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