Mid Atlantic Financial Management Inc. ADV raised its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.2% in the first quarter, HoldingsChannel.com reports. The fund owned 152,236 shares of the bank’s stock after buying an additional 8,890 shares during the quarter. Mid Atlantic Financial Management Inc. ADV’s holdings in Huntington Bancshares were worth $1,930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently added to or reduced their stakes in the business. HC Financial Advisors Inc. increased its stake in shares of Huntington Bancshares by 11.3% during the third quarter. HC Financial Advisors Inc. now owns 147,049 shares of the bank’s stock valued at $2,194,000 after buying an additional 14,965 shares during the period. Nordea Investment Management AB raised its holdings in Huntington Bancshares by 4.5% during the third quarter. Nordea Investment Management AB now owns 362,555 shares of the bank’s stock worth $5,407,000 after purchasing an additional 15,486 shares during the last quarter. Legal & General Group Plc raised its holdings in Huntington Bancshares by 2.7% during the third quarter. Legal & General Group Plc now owns 4,860,345 shares of the bank’s stock worth $72,516,000 after purchasing an additional 127,962 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Huntington Bancshares by 3.3% during the fourth quarter. State of Alaska Department of Revenue now owns 168,967 shares of the bank’s stock worth $2,013,000 after purchasing an additional 5,441 shares during the last quarter. Finally, QUANTRES ASSET MANAGEMENT Ltd acquired a new position in Huntington Bancshares during the fourth quarter worth $163,000. Institutional investors own 77.97% of the company’s stock.
Several brokerages recently issued reports on HBAN. BidaskClub raised Huntington Bancshares from a “strong sell” rating to a “sell” rating in a report on Saturday, January 19th. Jefferies Financial Group downgraded Huntington Bancshares from a “buy” rating to a “hold” rating and set a $14.00 price target for the company. in a research report on Monday, January 28th. ValuEngine downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday. Zacks Investment Research raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, May 6th. Finally, Vining Sparks reissued a “buy” rating and set a $18.00 price target on shares of Huntington Bancshares in a research report on Thursday, January 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $16.10.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, April 25th. The bank reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. Huntington Bancshares had a return on equity of 14.20% and a net margin of 26.24%. Huntington Bancshares’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 earnings per share. On average, analysts forecast that Huntington Bancshares Incorporated will post 1.32 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date is Friday, June 14th. Huntington Bancshares’s dividend payout ratio is currently 46.67%.
In other news, Director Kathleen H. Ransier sold 3,067 shares of Huntington Bancshares stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $14.30, for a total value of $43,858.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Richard Remiker sold 18,386 shares of Huntington Bancshares stock in a transaction on 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 directly owns 357,085 shares of the company’s stock, valued at approximately $5,006,331.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,453 shares of company stock valued at $581,030. Company insiders own 1.22% of the company’s stock.
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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