Thrivent Financial For Lutherans trimmed its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 30.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,429,872 shares of the bank’s stock after selling 2,793,320 shares during the quarter. Thrivent Financial For Lutherans owned 0.59% of Huntington Bancshares worth $86,932,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Huntington Bancshares by 3.8% during the first quarter. Vanguard Group Inc. now owns 107,431,420 shares of the bank’s stock worth $1,438,506,000 after purchasing an additional 3,937,628 shares during the last quarter. FMR LLC lifted its position in shares of Huntington Bancshares by 21.4% during the first quarter. FMR LLC now owns 98,004,607 shares of the bank’s stock worth $1,312,281,000 after purchasing an additional 17,263,771 shares during the last quarter. BlackRock Inc. lifted its position in shares of Huntington Bancshares by 2,879.7% during the first quarter. BlackRock Inc. now owns 68,761,543 shares of the bank’s stock worth $920,719,000 after purchasing an additional 66,453,890 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Huntington Bancshares by 6.5% during the first quarter. Wellington Management Group LLP now owns 18,405,607 shares of the bank’s stock worth $246,451,000 after purchasing an additional 1,121,927 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Huntington Bancshares by 8.6% during the first quarter. Geode Capital Management LLC now owns 11,751,388 shares of the bank’s stock worth $157,150,000 after purchasing an additional 928,231 shares during the last quarter. Institutional investors and hedge funds own 74.16% of the company’s stock.
In related news, Director Richard W. Neu purchased 2,450 shares of Huntington Bancshares stock in a transaction on Friday, July 28th. The shares were bought at an average price of $13.10 per share, with a total value of $32,095.00. Following the transaction, the director now directly owns 184,596 shares of the company’s stock, valued at $2,418,207.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nicholas G. Stanutz sold 16,000 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $12.71, for a total value of $203,360.00. Following the completion of the sale, the executive vice president now directly owns 447,722 shares in the company, valued at approximately $5,690,546.62. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.
Huntington Bancshares Incorporated (HBAN) traded up 0.31% during trading on Friday, reaching $12.76. The company’s stock had a trading volume of 16,063,966 shares. The stock has a 50 day moving average price of $12.83 and a 200 day moving average price of $13.13. Huntington Bancshares Incorporated has a 1-year low of $9.52 and a 1-year high of $14.74. The stock has a market capitalization of $13.91 billion, a PE ratio of 17.67 and a beta of 1.37.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, July 21st. The bank reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $1.07 billion for 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 quarter last year, the company earned $0.19 EPS. Analysts anticipate that Huntington Bancshares Incorporated will post $0.92 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Friday, September 15th. Huntington Bancshares’s dividend payout ratio is currently 46.38%.
Huntington Bancshares announced that its board has initiated a share repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $308.00 million in outstanding shares. This repurchase authorization authorizes the bank to buy up to 2.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
HBAN has been the subject of several research analyst reports. Morgan Stanley decreased their target price on 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. BMO Capital Markets reiterated a “buy” rating and set a $16.00 target price on shares of Huntington Bancshares in a research report on Friday, June 9th. BidaskClub upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Keefe, Bruyette & Woods set a $14.00 target price on Huntington Bancshares and gave the stock a “hold” rating in a research report on Saturday, June 24th. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of Huntington Bancshares in a research report on Monday, July 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $15.01.
Huntington Bancshares Company Profile
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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