Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Bought by Garrison Financial Corp
Garrison Financial Corp increased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,276 shares of the bank’s stock after buying an additional 11 shares during the period. Garrison Financial Corp’s holdings in Huntington Bancshares were worth $2,478,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Nippon Life Insurance Co. raised its stake in shares of Huntington Bancshares by 28.6% in the first quarter. Nippon Life Insurance Co. now owns 90,014 shares of the bank’s stock worth $1,205,000 after buying an additional 20,015 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Huntington Bancshares during the first quarter worth $1,081,000. City Holding Co. raised its stake in shares of Huntington Bancshares by 17.5% in the first quarter. City Holding Co. now owns 8,057 shares of the bank’s stock worth $108,000 after buying an additional 1,200 shares during the last quarter. DnB Asset Management AS raised its stake in shares of Huntington Bancshares by 25.1% in the first quarter. DnB Asset Management AS now owns 91,330 shares of the bank’s stock worth $1,223,000 after buying an additional 18,300 shares during the last quarter. Finally, Gateway Investment Advisers LLC raised its stake in shares of Huntington Bancshares by 39.5% in the first quarter. Gateway Investment Advisers LLC now owns 1,618,984 shares of the bank’s stock worth $21,678,000 after buying an additional 458,317 shares during the last quarter. Institutional investors own 74.75% of the company’s stock.
Huntington Bancshares Incorporated (NASDAQ HBAN) opened at 12.72 on Friday. The stock has a market cap of $13.87 billion, a P/E ratio of 17.62 and a beta of 1.37. The stock has a 50 day moving average of $13.36 and a 200-day moving average of $13.33. Huntington Bancshares Incorporated has a 12 month low of $9.43 and a 12 month high of $14.74.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, July 21st. The bank reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the company earned $0.19 earnings per share. On average, equities analysts forecast that Huntington Bancshares Incorporated will post $0.91 EPS for the current fiscal year.
Huntington Bancshares announced that its board has approved a share repurchase plan on Wednesday, June 28th that allows the company to repurchase $308.00 million in shares. This repurchase authorization allows the bank to buy up to 2.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 18th will be given 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 dividend yield of 2.52%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 46.38%.
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A number of brokerages recently weighed in on HBAN. BidaskClub upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Deutsche Bank AG reiterated a “buy” rating on shares of Huntington Bancshares in a report on Monday, July 3rd. Instinet reiterated a “buy” rating and set a $16.00 price objective (up previously from $15.00) on shares of Huntington Bancshares in a report on Wednesday, July 12th. Morgan Stanley reiterated an “equal weight” rating and set a $14.25 price objective (up previously from $13.75) on shares of Huntington Bancshares in a report on Friday, July 7th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $16.00 price objective on shares of Huntington Bancshares in a report on Thursday, July 27th. 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. The company currently has an average rating of “Buy” and a consensus target price of $14.96.
In other news, Director Richard W. Neu acquired 2,450 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were purchased at an average cost of $13.10 per share, for a total transaction of $32,095.00. Following the transaction, the director now directly owns 184,596 shares in the company, valued at approximately $2,418,207.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen D. Steinour acquired 50,000 shares of the stock in a transaction that occurred on Thursday, May 18th. The stock was 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 owns 3,891,831 shares in the company, valued at $48,258,704.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 67,940 shares of company stock worth $852,226. 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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