Huntington Bancshares Incorporated $HBAN Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 3.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 9,238,142 shares of the bank’s stock after purchasing an additional 314,544 shares during the quarter. JPMorgan Chase & Co.’s holdings in Huntington Bancshares were worth $159,543,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in HBAN. Altrius Capital Management Inc bought a new stake in shares of Huntington Bancshares in the 3rd quarter worth approximately $4,894,000. FineMark National Bank & Trust increased its position in Huntington Bancshares by 59.2% in the second quarter. FineMark National Bank & Trust now owns 175,144 shares of the bank’s stock worth $2,935,000 after buying an additional 65,144 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in Huntington Bancshares in the third quarter valued at $3,746,000. Midwest Trust Co boosted its holdings in shares of Huntington Bancshares by 12.7% during the third quarter. Midwest Trust Co now owns 1,510,977 shares of the bank’s stock valued at $26,095,000 after acquiring an additional 170,240 shares during the period. Finally, Shoker Investment Counsel Inc. grew its position in shares of Huntington Bancshares by 1,706.3% during the second quarter. Shoker Investment Counsel Inc. now owns 200,566 shares of the bank’s stock worth $3,361,000 after acquiring an additional 189,462 shares during the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HBAN has been the topic of several recent research reports. Jefferies Financial Group lifted their price objective on shares of Huntington Bancshares from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Evercore initiated coverage on shares of Huntington Bancshares in a research note on Tuesday, February 3rd. They issued an “outperform” rating and a $21.00 price target on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $21.00 price objective on shares of Huntington Bancshares in a research report on Monday, January 12th. UBS Group set a $21.00 price objective on Huntington Bancshares in a report on Wednesday, February 4th. Finally, Wall Street Zen downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average price target of $20.60.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $18.01 on Friday. The stock has a market cap of $28.36 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 0.73 and a beta of 0.96. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.92. Huntington Bancshares Incorporated has a 12 month low of $11.91 and a 12 month high of $19.45. The stock’s 50 day moving average price is $17.86 and its 200 day moving average price is $17.04.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the previous year, the business posted $0.34 earnings per share. Equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be given a $0.155 dividend. The ex-dividend date is Wednesday, March 18th. This represents a $0.62 annualized dividend and a yield of 3.4%. Huntington Bancshares’s payout ratio is 44.60%.

Insider Buying and Selling

In related news, VP Brantley J. Standridge sold 5,830 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $19.14, for a total transaction of $111,586.20. Following the completion of the sale, the vice president directly owned 327,676 shares of the company’s stock, valued at $6,271,718.64. This represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brendan A. Lawlor sold 17,455 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $18.93, for a total transaction of $330,423.15. Following the sale, the vice president owned 42,398 shares of the company’s stock, valued at $802,594.14. The trade was a 29.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 50,145 shares of company stock worth $929,885 in the last ninety days. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.