Canada Pension Plan Investment Board Buys 102,100 Shares of Huntington Bancshares Incorporated (HBAN)
Canada Pension Plan Investment Board raised its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 36.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 385,483 shares of the bank’s stock after purchasing an additional 102,100 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Huntington Bancshares were worth $5,381,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HBAN. Capital International Investors boosted its holdings in Huntington Bancshares by 22.6% during the second quarter. Capital International Investors now owns 43,919,215 shares of the bank’s stock valued at $593,788,000 after purchasing an additional 8,101,400 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Huntington Bancshares by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 109,990,274 shares of the bank’s stock worth $1,487,068,000 after acquiring an additional 2,558,854 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Huntington Bancshares by 20.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,364,805 shares of the bank’s stock worth $167,172,000 after acquiring an additional 2,065,131 shares in the last quarter. Nationwide Fund Advisors boosted its holdings in shares of Huntington Bancshares by 430.6% in the 2nd quarter. Nationwide Fund Advisors now owns 1,620,866 shares of the bank’s stock worth $21,914,000 after acquiring an additional 1,315,390 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Huntington Bancshares by 865.6% in the 2nd quarter. Janus Henderson Group PLC now owns 1,432,015 shares of the bank’s stock worth $19,360,000 after acquiring an additional 1,283,709 shares in the last quarter. 73.84% of the stock is currently owned by institutional investors.
In other Huntington Bancshares news, EVP Daniel J. Neumeyer sold 43,491 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $13.88, for a total transaction of $603,655.08. Following the completion of the sale, the executive vice president now owns 427,270 shares in the company, valued at approximately $5,930,507.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nicholas G. Stanutz sold 16,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were 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 of the company’s stock, valued at approximately $5,690,546.62. The disclosure for this sale can be found here. Insiders have sold a total of 74,004 shares of company stock valued at $1,006,859 in the last quarter. Corporate insiders own 1.30% of the company’s stock.
Several research analysts have recently commented on HBAN shares. Royal Bank Of Canada reissued a “buy” rating and issued a $16.00 target price on shares of Huntington Bancshares in a report on Thursday, July 27th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $14.25 target price on shares of Huntington Bancshares in a report on Friday, October 13th. Sanford C. Bernstein raised Huntington Bancshares from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $15.00 to $17.00 in a report on Thursday, September 14th. BMO Capital Markets reissued an “outperform” rating and issued a $15.00 target price (down from $16.00) on shares of Huntington Bancshares in a report on Friday, July 21st. Finally, Nomura boosted their target price on Huntington Bancshares from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. Huntington Bancshares has an average rating of “Buy” and a consensus price target of $15.22.
Huntington Bancshares Incorporated (HBAN) opened at $13.61 on Wednesday. The stock has a market capitalization of $14,441.44, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 1.52 and a beta of 1.34. Huntington Bancshares Incorporated has a 1-year low of $11.64 and a 1-year high of $14.74. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.96.
Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Wednesday, October 25th. The bank reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. Huntington Bancshares had a net margin of 20.76% and a return on equity of 11.96%. During the same quarter in the previous year, the firm posted $0.11 EPS. equities analysts expect that Huntington Bancshares Incorporated will post 0.98 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 18th will be given a dividend of $0.11 per share. This is a boost from Huntington Bancshares’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, December 15th. This represents a $0.44 annualized dividend and a dividend yield of 3.23%. Huntington Bancshares’s payout ratio is presently 39.51%.
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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