Cambridge Investment Research Advisors Inc. reduced its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307,720 shares of the bank’s stock after selling 1,509 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Huntington Bancshares were worth $2,780,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its holdings in Huntington Bancshares by 128.5% during the 4th quarter. Quadrant Capital Group LLC now owns 3,062 shares of the bank’s stock worth $39,000 after purchasing an additional 1,722 shares in the last quarter. Ballast Advisors LLC bought a new position in shares of Huntington Bancshares during the first quarter worth about $25,000. Golden State Wealth Management LLC acquired a new stake in Huntington Bancshares in the 1st quarter valued at approximately $25,000. Asset Dedication LLC raised its position in Huntington Bancshares by 421.7% in the 1st quarter. Asset Dedication LLC now owns 3,433 shares of the bank’s stock valued at $29,000 after buying an additional 2,775 shares during the last quarter. Finally, Ameritas Investment Company LLC lifted its stake in Huntington Bancshares by 72.2% in the 1st quarter. Ameritas Investment Company LLC now owns 5,498 shares of the bank’s stock valued at $42,000 after acquiring an additional 2,305 shares in the last quarter. Institutional investors and hedge funds own 73.91% of the company’s stock.
HBAN has been the topic of a number of recent research reports. Cfra lowered their price objective on shares of Huntington Bancshares from $15.00 to $9.00 and set a “hold” rating on the stock in a report on Monday, April 6th. Royal Bank of Canada lifted their price target on shares of Huntington Bancshares from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Thursday, June 11th. Barclays reissued a “hold” rating and set a $12.00 price target on shares of Huntington Bancshares in a research report on Thursday, April 9th. Raymond James decreased their price objective on Huntington Bancshares from $11.50 to $10.00 and set an “outperform” rating for the company in a report on Monday, April 27th. Finally, Stephens raised Huntington Bancshares from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $9.00 to $10.50 in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $10.04.
Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, July 23rd. The bank reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.09. Huntington Bancshares had a return on equity of 8.35% and a net margin of 16.27%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the firm earned $0.33 EPS. The firm’s revenue was down .4% compared to the same quarter last year. Equities research analysts expect that Huntington Bancshares Incorporated will post 0.59 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 17th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 6.47%. The ex-dividend date of this dividend is Wednesday, September 16th. Huntington Bancshares’s payout ratio is presently 47.24%.
In related news, EVP Paul G. Heller sold 46,726 shares of Huntington Bancshares stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $9.10, for a total transaction of $425,206.60. Following the completion of the sale, the executive vice president now owns 532,943 shares of the company’s stock, valued at approximately $4,849,781.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.70% of the company’s stock.
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 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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