Huntington Bancshares Incorporated (HBAN) Shares Bought by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. increased its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,902,898 shares of the bank’s stock after buying an additional 229,192 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.45% of Huntington Bancshares worth $66,288,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of HBAN. Bronfman E.L. Rothschild L.P. increased its stake in Huntington Bancshares by 371.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 9,548 shares of the bank’s stock valued at $128,000 after buying an additional 7,521 shares during the last quarter. Moody Lynn & Lieberson LLC acquired a new stake in shares of Huntington Bancshares during the first quarter valued at approximately $134,000. Chicago Partners Investment Group LLC acquired a new stake in shares of Huntington Bancshares during the second quarter valued at approximately $134,000. YG Partners LLC acquired a new stake in shares of Huntington Bancshares during the first quarter valued at approximately $2,039,000. Finally, Sigma Planning Corp acquired a new stake in shares of Huntington Bancshares during the first quarter valued at approximately $137,000. 74.54% of the stock is owned by institutional investors and hedge funds.
Shares of Huntington Bancshares Incorporated (HBAN) opened at 12.76 on Friday. Huntington Bancshares Incorporated has a 12-month low of $9.52 and a 12-month high of $14.74. The firm’s 50-day moving average price is $13.21 and its 200 day moving average price is $13.27. The firm has a market cap of $13.91 billion, a P/E ratio of 17.67 and a beta of 1.37.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, July 21st. The bank reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Huntington Bancshares had a return on equity of 11.39% and a net margin of 18.41%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the company posted $0.19 EPS. On average, equities analysts expect that Huntington Bancshares Incorporated will post $0.92 earnings per share for the current fiscal year.
Huntington Bancshares announced that its Board of Directors has approved a stock repurchase plan on Wednesday, June 28th that allows the company to buyback $308.00 million in outstanding shares. This buyback authorization allows the bank to reacquire up to 2.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 18th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.32 annualized dividend and a dividend yield of 2.51%. Huntington Bancshares’s payout ratio is 46.38%.
Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods set a $14.00 price target on shares of Huntington Bancshares and gave the stock a “hold” rating in a research report on Friday, August 11th. Piper Jaffray Companies upgraded shares of Huntington Bancshares from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $14.00 to $15.00 in a research report on Friday, August 11th. BidaskClub cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. BMO Capital Markets reiterated a “buy” rating and issued a $16.00 price target on shares of Huntington Bancshares in a research report on Friday, June 9th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $16.00 price target on shares of Huntington Bancshares in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $14.96.
In related news, EVP Nicholas G. Stanutz sold 16,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $12.71, for a total transaction of $203,360.00. Following the sale, the executive vice president now owns 447,722 shares in the company, valued at approximately $5,690,546.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard W. Neu bought 2,450 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were acquired at an average price of $13.10 per share, for a total transaction of $32,095.00. Following the transaction, the director now owns 184,596 shares in the company, valued at $2,418,207.60. The disclosure for this purchase can be found here. 1.30% of the stock is owned by corporate insiders.
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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