Dimensional Fund Advisors LP Buys 790,524 Shares of Huntington Bancshares (HBAN)
Dimensional Fund Advisors LP raised its stake in shares of Huntington Bancshares (NASDAQ:HBAN) by 7.0% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 12,029,588 shares of the bank’s stock after purchasing an additional 790,524 shares during the period. Dimensional Fund Advisors LP’s holdings in Huntington Bancshares were worth $181,647,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the business. Schroder Investment Management Group grew its holdings in Huntington Bancshares by 16.8% during the fourth quarter. Schroder Investment Management Group now owns 22,882 shares of the bank’s stock valued at $333,000 after purchasing an additional 3,298 shares during the period. New Mexico Educational Retirement Board grew its holdings in Huntington Bancshares by 3.7% during the fourth quarter. New Mexico Educational Retirement Board now owns 104,776 shares of the bank’s stock valued at $1,526,000 after purchasing an additional 3,700 shares during the period. ClariVest Asset Management LLC grew its holdings in Huntington Bancshares by 13.6% during the first quarter. ClariVest Asset Management LLC now owns 35,900 shares of the bank’s stock valued at $542,000 after purchasing an additional 4,300 shares during the period. JNBA Financial Advisors bought a new stake in Huntington Bancshares during the first quarter valued at about $440,000. Finally, Advisor Group Inc. grew its holdings in Huntington Bancshares by 6.5% during the fourth quarter. Advisor Group Inc. now owns 84,620 shares of the bank’s stock valued at $1,233,000 after purchasing an additional 5,180 shares during the period. 75.26% of the stock is owned by institutional investors and hedge funds.
NASDAQ:HBAN opened at $14.87 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $15.91 billion, a P/E ratio of 15.17, a PEG ratio of 1.01 and a beta of 1.34. Huntington Bancshares has a 12 month low of $12.14 and a 12 month high of $16.60.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Monday, June 18th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, June 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.96%. Huntington Bancshares’s dividend payout ratio is currently 44.90%.
Several analysts have issued reports on the company. BidaskClub lowered Huntington Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, May 26th. Nomura dropped their price objective on Huntington Bancshares from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, April 25th. Susquehanna Bancshares set a $17.00 price objective on Huntington Bancshares and gave the stock a “hold” rating in a research note on Tuesday, April 24th. Zacks Investment Research raised Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Friday, April 6th. Finally, ValuEngine lowered Huntington Bancshares from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Eleven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $16.98.
In related news, EVP Paul G. Heller sold 28,251 shares of the business’s stock in a transaction dated Friday, May 18th. The stock was sold at an average price of $15.28, for a total value of $431,675.28. Following the sale, the executive vice president now directly owns 463,412 shares in the company, valued at $7,080,935.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David L. Porteous sold 62,000 shares of the business’s stock in a transaction dated Thursday, May 24th. The stock was sold at an average price of $15.06, for a total value of $933,720.00. The disclosure for this sale can be found here. Insiders sold 117,387 shares of company stock worth $1,774,808 over the last quarter. 1.05% of the stock is owned by company insiders.
About Huntington Bancshares
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company's Consumer and Business Banking segment offers financial products and services, such as checking accounts, savings accounts, money market accounts, certificates of deposit, consumer loans, and small business loans; and investments, mortgages, insurance, interest rate risk protection, and foreign exchange and treasury management services.
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