Ballentine Partners LLC acquired a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 22,231 shares of the bank’s stock, valued at approximately $310,000.
Other institutional investors have also recently modified their holdings of the company. BNP Paribas Arbitrage SA lifted its holdings in shares of Huntington Bancshares by 39.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 723,671 shares of the bank’s stock valued at $10,102,000 after acquiring an additional 205,325 shares during the last quarter. HL Financial Services LLC bought a new position in shares of Huntington Bancshares in the 3rd quarter valued at about $846,000. Global X MANAGEMENT CO LLC lifted its holdings in shares of Huntington Bancshares by 11.5% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 48,994 shares of the bank’s stock valued at $684,000 after acquiring an additional 5,047 shares during the last quarter. Candriam Luxembourg S.C.A. lifted its holdings in shares of Huntington Bancshares by 20.6% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 131,698 shares of the bank’s stock valued at $1,839,000 after acquiring an additional 22,520 shares during the last quarter. Finally, Tradition Capital Management LLC lifted its holdings in shares of Huntington Bancshares by 4.3% in the 3rd quarter. Tradition Capital Management LLC now owns 138,279 shares of the bank’s stock valued at $1,930,000 after acquiring an additional 5,700 shares during the last quarter. Hedge funds and other institutional investors own 73.84% of the company’s stock.
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Huntington Bancshares Incorporated (NASDAQ:HBAN) traded down $0.07 during trading on Monday, hitting $13.14. 8,767,500 shares of the stock traded hands, compared to its average volume of 9,541,726. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. Huntington Bancshares Incorporated has a 1 year low of $11.49 and a 1 year high of $14.74. The company has a market capitalization of $14,203.63, a P/E ratio of 13.69, a PEG ratio of 1.49 and a beta of 1.34.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Wednesday, October 25th. The bank reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.02). Huntington Bancshares had a net margin of 20.76% and a return on equity of 11.96%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the firm posted $0.11 EPS. research analysts expect that Huntington Bancshares Incorporated will post 0.98 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 18th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Friday, December 15th. This is an increase from Huntington Bancshares’s previous quarterly dividend of $0.08. Huntington Bancshares’s payout ratio is currently 39.51%.
In related news, insider Helga Houston sold 14,513 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $13.77, for a total transaction of $199,844.01. Following the transaction, the insider now directly owns 499,824 shares of the company’s stock, valued at $6,882,576.48. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Nicholas G. Stanutz sold 16,000 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $12.71, for a total transaction of $203,360.00. Following the transaction, the executive vice president now directly owns 447,722 shares in the company, valued at $5,690,546.62. The disclosure for this sale can be found here. Insiders have sold 74,004 shares of company stock valued at $1,006,859 in the last ninety days. Insiders own 1.30% of the company’s stock.
HBAN has been the subject of a number of analyst reports. FBR & Co reaffirmed a “hold” rating and issued a $14.00 price target on shares of Huntington Bancshares in a report on Thursday, October 26th. BidaskClub downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Nomura increased their price target on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, October 26th. BMO Capital Markets downgraded shares of Huntington Bancshares from an “outperform” rating to a “market perform” rating and set a $16.00 price target for the company. in a report on Thursday, October 26th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $14.25 price target on shares of Huntington Bancshares in a report on Friday, October 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $15.22.
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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