Kinsight LLC maintained its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the second quarter, Holdings Channel reports. The institutional investor owned 11,424 shares of the bank’s stock at the end of the second quarter. Kinsight LLC’s holdings in Huntington Bancshares were worth $154,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of HBAN. Miller Howard Investments Inc. NY acquired a new position in Huntington Bancshares during the second quarter worth about $2,028,000. Manning & Napier Advisors LLC bought a new stake in shares of Huntington Bancshares during the second quarter worth approximately $685,000. Sit Investment Associates Inc. boosted its stake in shares of Huntington Bancshares by 4.2% in the second quarter. Sit Investment Associates Inc. now owns 1,746,000 shares of the bank’s stock worth $23,606,000 after buying an additional 70,250 shares during the period. First National Bank of Omaha boosted its stake in shares of Huntington Bancshares by 0.6% in the second quarter. First National Bank of Omaha now owns 312,098 shares of the bank’s stock worth $4,219,000 after buying an additional 1,844 shares during the period. Finally, Aperio Group LLC boosted its stake in shares of Huntington Bancshares by 8.5% in the second quarter. Aperio Group LLC now owns 434,453 shares of the bank’s stock worth $5,874,000 after buying an additional 33,908 shares during the period. Institutional investors own 75.51% of the company’s stock.
Huntington Bancshares Incorporated (NASDAQ HBAN) traded down 0.45% on Wednesday, reaching $13.34. The company’s stock had a trading volume of 4,362,879 shares. The firm has a 50 day moving average of $13.30 and a 200 day moving average of $13.34. Huntington Bancshares Incorporated has a 12 month low of $9.10 and a 12 month high of $14.74. The firm has a market cap of $14.54 billion, a price-to-earnings ratio of 18.48 and a beta of 1.37.
Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, July 21st. The bank reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Huntington Bancshares had a return on equity of 11.39% and a net margin of 18.41%. During the same quarter in the prior year, the firm earned $0.19 EPS. Analysts anticipate that Huntington Bancshares Incorporated will post $0.92 earnings per share for the current year.
Huntington Bancshares declared that its board has initiated a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $308.00 million in outstanding shares. This buyback authorization authorizes the bank to purchase up to 2.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 18th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, September 15th. This represents a $0.32 dividend on an annualized basis and a yield of 2.39%. Huntington Bancshares’s dividend payout ratio (DPR) is 46.38%.
HBAN has been the subject of a number of recent analyst reports. BidaskClub raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. BMO Capital Markets reissued a “buy” rating and set a $16.00 target price on shares of Huntington Bancshares in a research note on Friday, June 9th. Instinet reissued a “buy” rating and set a $16.00 target price (up from $15.00) on shares of Huntington Bancshares in a research note on Wednesday, July 12th. Morgan Stanley lowered their target price on Huntington Bancshares from $14.00 to $13.75 and set an “equal weight” rating for the company in a research note on Tuesday, June 6th. Finally, Hilliard Lyons raised Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their target price for the stock from $14.00 to $15.00 in a research note on Monday. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $14.83.
In other news, EVP Andrew J. Harmening acquired 15,490 shares of Huntington Bancshares stock in a transaction dated Monday, May 15th. The shares were purchased at an average cost of $12.92 per share, for a total transaction of $200,130.80. Following the transaction, the executive vice president now owns 35,543 shares of the company’s stock, valued at $459,215.56. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen D. Steinour acquired 50,000 shares of Huntington Bancshares stock in a transaction dated Thursday, May 18th. The shares were purchased at an average price of $12.40 per share, for a total transaction of $620,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,891,831 shares in the company, valued at approximately $48,258,704.40. The disclosure for this purchase can be found here. 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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