Victory Capital Management Inc. Has $14.52 Million Stake in Huntington Bancshares Incorporated (HBAN)
Victory Capital Management Inc. decreased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 56.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,073,756 shares of the bank’s stock after selling 1,386,629 shares during the quarter. Victory Capital Management Inc. owned about 0.10% of Huntington Bancshares worth $14,517,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. MAI Capital Management boosted its holdings in shares of Huntington Bancshares by 1.5% during the second quarter. MAI Capital Management now owns 34,493 shares of the bank’s stock valued at $466,000 after acquiring an additional 515 shares during the period. Lincoln National Corp boosted its holdings in shares of Huntington Bancshares by 0.6% during the second quarter. Lincoln National Corp now owns 14,350 shares of the bank’s stock valued at $194,000 after acquiring an additional 84 shares during the period. MUFG Americas Holdings Corp boosted its holdings in shares of Huntington Bancshares by 232.7% during the second quarter. MUFG Americas Holdings Corp now owns 13,689 shares of the bank’s stock valued at $186,000 after acquiring an additional 9,574 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Huntington Bancshares by 2.2% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,158,652 shares of the bank’s stock valued at $42,705,000 after acquiring an additional 69,092 shares during the period. Finally, Marshall Wace North America L.P. acquired a new position in shares of Huntington Bancshares during the second quarter valued at $256,000. 74.16% of the stock is owned by institutional investors.
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In related news, EVP Nicholas G. Stanutz sold 16,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $12.71, for a total value of $203,360.00. Following the completion of the sale, the executive vice president now directly owns 447,722 shares in the company, valued at approximately $5,690,546.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard W. Neu purchased 2,450 shares of Huntington Bancshares stock in a transaction that occurred on Friday, July 28th. The stock was purchased at an average price of $13.10 per share, with a total value of $32,095.00. Following the completion of the purchase, 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 own 1.30% of the company’s stock.
Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) opened at 12.70 on Tuesday. The firm has a 50-day moving average of $13.06 and a 200 day moving average of $13.24. The company has a market capitalization of $13.84 billion, a PE ratio of 17.59 and a beta of 1.37. Huntington Bancshares Incorporated has a 12 month low of $9.52 and a 12 month high of $14.74.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, July 21st. The bank reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.03. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Huntington Bancshares had a return on equity of 11.39% and a net margin of 18.41%. During the same period in the previous year, the company posted $0.19 EPS. On average, equities research analysts expect that Huntington Bancshares Incorporated will post $0.92 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 18th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.32 annualized dividend and a yield of 2.52%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 46.38%.
Huntington Bancshares declared that its Board of Directors has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $308.00 million in shares. This repurchase authorization authorizes the bank to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Several equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods set a $14.00 price target on shares of Huntington Bancshares and gave the company a “hold” rating in a report on Saturday, June 24th. BidaskClub downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Deutsche Bank AG reissued a “buy” rating on shares of Huntington Bancshares in a report on Monday, July 3rd. BMO Capital Markets reissued a “buy” rating and set a $16.00 price target on shares of Huntington Bancshares in a report on Friday, June 9th. Finally, Instinet reissued a “buy” rating and set a $16.00 price target (up previously from $15.00) on shares of Huntington Bancshares in a report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $14.96.
Huntington Bancshares 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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