Pictet Asset Management Holding SA Acquires 59,941 Shares of Huntington Bancshares Incorporated $HBAN

Pictet Asset Management Holding SA lifted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 5.3% in the third quarter, Holdings Channel reports. The fund owned 1,184,163 shares of the bank’s stock after purchasing an additional 59,941 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Huntington Bancshares were worth $18,070,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Leelyn Smith LLC purchased a new position in Huntington Bancshares during the third quarter worth $172,000. Parallel Advisors LLC boosted its position in shares of Huntington Bancshares by 7.2% during the third quarter. Parallel Advisors LLC now owns 13,989 shares of the bank’s stock valued at $213,000 after buying an additional 940 shares during the period. CenterBook Partners LP purchased a new stake in shares of Huntington Bancshares in the third quarter worth approximately $1,614,000. Heritage Family Offices LLP purchased a new position in Huntington Bancshares during the 3rd quarter valued at $68,000. Finally, Calamos Advisors LLC grew its position in Huntington Bancshares by 2.1% in the 3rd quarter. Calamos Advisors LLC now owns 405,213 shares of the bank’s stock valued at $6,184,000 after acquiring an additional 8,198 shares during the last quarter. 80.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on HBAN shares. Jefferies Financial Group reduced their price target on shares of Huntington Bancshares from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Thursday, September 24th. Morgan Stanley cut Huntington Bancshares from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $21.00 to $19.00 in a report on Friday, July 24th. DA Davidson decreased their price objective on Huntington Bancshares from $22.00 to $20.00 and set a “buy” rating for the company in a report on Monday, September 21st. JPMorgan Chase & Co. upped their price target on shares of Huntington Bancshares from $17.50 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Finally, Argus lowered their target price on Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.89.

Huntington Bancshares Trading Down 0.9%

Shares of NASDAQ:HBAN opened at $15.73 on Friday. The business’s 50-day moving average is $15.77 and its 200 day moving average is $16.61. Huntington Bancshares Incorporated has a 1 year low of $14.82 and a 1 year high of $19.45. The firm has a market capitalization of $31.78 billion, a P/E ratio of 13.00, a P/E/G ratio of 1.02 and a beta of 0.97. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.91 and a quick ratio of 0.91.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, October 22nd. The bank reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38. Huntington Bancshares had a return on equity of 10.93% and a net margin of 16.28%. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter last year, the company earned $0.41 earnings per share. On average, research analysts predict that Huntington Bancshares Incorporated will post 1.54 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Friday, December 18th will be paid a dividend of $0.1550 per share. This represents a $0.62 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, December 18th. Huntington Bancshares’s payout ratio is presently 51.24%.

Insider Activity

In related news, Director Gary Torgow purchased 12,700 shares of the business’s stock in a transaction on Tuesday, October 27th. The shares were bought at an average cost of $15.73 per share, with a total value of $199,771.00. Following the transaction, the director owned 956,041 shares of the company’s stock, valued at approximately $15,038,524.93. This trade represents a 1.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Donnell R. White sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $15.87, for a total value of $47,610.00. Following the completion of the sale, the senior vice president owned 23,697 shares in the company, valued at $376,071.39. The trade was a 11.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.67% of the company’s stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides consumer and commercial banking services to individuals, businesses, and institutions. The company traces its roots to 1866, when P.W. Huntington & Company opened in Columbus. Huntington’s offerings include checking and savings accounts, credit cards, mortgages, auto loans, business lending, treasury management, wealth management, and investment services.