Huntington Bancshares Incorporated (HBAN) Stake Increased by Janney Capital Management LLC
Janney Capital Management LLC raised its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,185 shares of the bank’s stock after buying an additional 179 shares during the period. Janney Capital Management LLC’s holdings in Huntington Bancshares were worth $394,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in HBAN. First Merchants Corp boosted its stake in shares of Huntington Bancshares by 7.5% in the second quarter. First Merchants Corp now owns 198,122 shares of the bank’s stock valued at $2,679,000 after buying an additional 13,750 shares in the last quarter. IBM Retirement Fund boosted its stake in shares of Huntington Bancshares by 121.4% in the second quarter. IBM Retirement Fund now owns 26,505 shares of the bank’s stock valued at $401,000 after buying an additional 14,533 shares in the last quarter. NGAM Advisors L.P. boosted its stake in shares of Huntington Bancshares by 4.4% in the second quarter. NGAM Advisors L.P. now owns 416,273 shares of the bank’s stock valued at $5,628,000 after buying an additional 17,695 shares in the last quarter. Parkwood LLC purchased a new stake in shares of Huntington Bancshares during the second quarter valued at $336,000. Finally, Paragon Capital Management Ltd boosted its stake in shares of Huntington Bancshares by 47.5% in the second quarter. Paragon Capital Management Ltd now owns 19,960 shares of the bank’s stock valued at $270,000 after buying an additional 6,427 shares in the last quarter. 74.75% of the stock is currently owned by institutional investors.
Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) traded down 0.70% on Friday, reaching $12.72. The company had a trading volume of 7,865,786 shares. The company has a market capitalization of $13.87 billion, a P/E ratio of 17.62 and a beta of 1.37. Huntington Bancshares Incorporated has a 52 week low of $9.43 and a 52 week high of $14.74. The company has a 50 day moving average of $13.36 and a 200-day moving average of $13.33.
Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, July 21st. The bank reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.03. Huntington Bancshares had a return on equity of 11.39% and a net margin of 18.41%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the business earned $0.19 EPS. Analysts predict that Huntington Bancshares Incorporated will post $0.91 earnings per share for the current fiscal year.
The company also recently announced 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. This represents a $0.32 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Friday, September 15th. Huntington Bancshares’s payout ratio is currently 46.38%.
Huntington Bancshares declared that its Board of Directors has initiated a stock buyback 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 stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
Several brokerages have weighed in on HBAN. Keefe, Bruyette & Woods set a $14.00 target price on Huntington Bancshares and gave the stock a “hold” rating in a report on Friday. Piper Jaffray Companies upgraded Huntington Bancshares from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $14.00 to $15.00 in a report on Friday. BidaskClub cut Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Royal Bank Of Canada reiterated a “buy” rating and issued a $16.00 target price on shares of Huntington Bancshares in a report on Thursday, July 27th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $16.00 target price on shares of Huntington Bancshares in a report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $14.96.
In related news, EVP Andrew J. Harmening purchased 15,490 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were purchased at an average price of $12.92 per share, for a total transaction of $200,130.80. Following the transaction, the executive vice president now directly owns 35,543 shares of the company’s stock, valued at approximately $459,215.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard W. Neu purchased 2,450 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The stock was bought at an average price 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 $2,418,207.60. The disclosure for this purchase can be found here. Insiders bought a total of 67,940 shares of company stock valued at $852,226 over the last three months. Company insiders own 1.30% of the company’s stock.
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.
Receive News & Ratings for Huntington Bancshares Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Huntington Bancshares Incorporated and related companies with Analyst Ratings Network's FREE daily email newsletter.