Kinsight LLC held its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of HBAN. Miller Howard Investments Inc. NY bought a new position in Huntington Bancshares during the second quarter valued at about $2,028,000. Manning & Napier Advisors LLC acquired a new stake in Huntington Bancshares during the second quarter valued at approximately $685,000. Sit Investment Associates Inc. raised its stake in Huntington Bancshares by 4.2% in the second quarter. Sit Investment Associates Inc. now owns 1,746,000 shares of the bank’s stock valued at $23,606,000 after buying an additional 70,250 shares in the last quarter. First National Bank of Omaha increased 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 valued at $4,219,000 after buying an additional 1,844 shares during the period. Finally, Aperio Group LLC increased 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 valued at $5,874,000 after buying an additional 33,908 shares during the period. Hedge funds and other institutional investors own 74.75% of the company’s stock.
Shares of Huntington Bancshares Incorporated (HBAN) opened at 12.72 on Friday. The company has a market cap of $13.87 billion, a P/E ratio of 17.62 and a beta of 1.37. Huntington Bancshares Incorporated has a 12 month low of $9.43 and a 12 month high of $14.74. The firm has a 50-day moving average price of $13.36 and a 200 day moving average price of $13.33.
Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, July 21st. The bank reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.03. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. Huntington Bancshares had a return on equity of 11.39% and a net margin of 18.41%. During the same period last year, the company earned $0.19 EPS. Equities analysts predict that Huntington Bancshares Incorporated will post $0.91 earnings per share for the current year.
Huntington Bancshares announced that its board has approved a stock buyback program on Wednesday, June 28th that permits the company to buyback $308.00 million in shares. This buyback authorization permits the bank to repurchase up to 2.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 18th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.52%. Huntington Bancshares’s dividend payout ratio is presently 46.38%.
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Several research analysts have weighed in on HBAN shares. FBR & Co reiterated a “mkt perform” rating and issued a $14.00 price objective (down previously from $15.00) on shares of Huntington Bancshares in a research note on Thursday, April 20th. Piper Jaffray Companies reiterated a “neutral” rating and issued a $14.00 target price (down from $14.50) on shares of Huntington Bancshares in a research note on Saturday, April 22nd. BMO Capital Markets reissued a “buy” rating and issued a $16.00 price target on shares of Huntington Bancshares in a report on Friday, April 28th. Morgan Stanley lowered their price objective on shares of Huntington Bancshares from $14.00 to $13.75 and set an “equal weight” rating for the company in a research report on Tuesday, June 6th. Finally, BidaskClub raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. Huntington Bancshares has an average rating of “Buy” and an average price target of $14.96.
In other news, EVP Andrew J. Harmening purchased 15,490 shares of the company’s stock in a transaction on Monday, May 15th. The shares were acquired at an average price of $12.92 per share, for a total transaction of $200,130.80. Following the purchase, the executive vice president now owns 35,543 shares in the company, valued at $459,215.56. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Stephen D. Steinour purchased 50,000 shares of the company’s stock in a transaction on 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 purchase, the chief executive officer now owns 3,891,831 shares in the company, valued at approximately $48,258,704.40. The disclosure for this purchase can be found here. Insiders bought a total of 67,940 shares of company stock worth $852,226 over the last quarter. Company 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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