B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund trimmed its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 55.7% in the second quarter, HoldingsChannel.com reports. The firm owned 40,656 shares of the bank’s stock after selling 51,102 shares during the quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in Huntington Bancshares were worth $600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently added to or reduced their stakes in HBAN. Stelac Advisory Services LLC bought a new position in Huntington Bancshares during the first quarter worth $131,000. IHT Wealth Management LLC boosted its position in Huntington Bancshares by 164.4% during the first quarter. IHT Wealth Management LLC now owns 9,421 shares of the bank’s stock worth $138,000 after purchasing an additional 5,858 shares during the period. Institutional & Family Asset Management LLC bought a new position in Huntington Bancshares during the first quarter worth $140,000. Dupont Capital Management Corp boosted its position in Huntington Bancshares by 79.3% during the second quarter. Dupont Capital Management Corp now owns 9,657 shares of the bank’s stock worth $143,000 after purchasing an additional 4,270 shares during the period. Finally, GAM Holding AG bought a new position in Huntington Bancshares during the second quarter worth $154,000. 73.80% of the stock is owned by hedge funds and other institutional investors.
HBAN has been the subject of a number of recent research reports. BidaskClub cut shares of Huntington Bancshares from a “buy” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Tuesday, July 17th. Jefferies Financial Group boosted their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, August 8th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $16.50 target price on shares of Huntington Bancshares in a research report on Thursday, July 26th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $17.22.
Shares of Huntington Bancshares stock opened at $15.66 on Friday. The stock has a market capitalization of $17.52 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 0.87 and a beta of 1.33. Huntington Bancshares Incorporated has a 52-week low of $12.57 and a 52-week high of $16.60. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.90.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Wednesday, July 25th. The bank reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.01. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.13 billion. Huntington Bancshares had a return on equity of 12.93% and a net margin of 27.90%. During the same quarter in the previous year, the firm earned $0.26 earnings per share. analysts anticipate that Huntington Bancshares Incorporated will post 1.24 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Monday, September 17th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Friday, September 14th. This is an increase from Huntington Bancshares’s previous quarterly dividend of $0.11. Huntington Bancshares’s payout ratio is 44.90%.
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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