106,361 Shares in Huntington Bancshares Incorporated (HBAN) Purchased by NorthCoast Asset Management LLC
NorthCoast Asset Management LLC bought a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 106,361 shares of the bank’s stock, valued at approximately $1,570,000.
A number of other large investors have also modified their holdings of HBAN. Wells Fargo & Company MN raised its position in Huntington Bancshares by 28.0% in the 1st quarter. Wells Fargo & Company MN now owns 5,899,778 shares of the bank’s stock worth $89,087,000 after buying an additional 1,289,364 shares during the last quarter. American Century Companies Inc. purchased a new position in Huntington Bancshares in the 1st quarter worth about $223,000. Robeco Institutional Asset Management B.V. raised its position in Huntington Bancshares by 92.4% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 38,324 shares of the bank’s stock worth $579,000 after buying an additional 18,409 shares during the last quarter. American International Group Inc. raised its position in Huntington Bancshares by 1.8% in the 1st quarter. American International Group Inc. now owns 417,066 shares of the bank’s stock worth $6,298,000 after buying an additional 7,418 shares during the last quarter. Finally, Aperio Group LLC raised its position in Huntington Bancshares by 3.4% in the 1st quarter. Aperio Group LLC now owns 494,630 shares of the bank’s stock worth $7,469,000 after buying an additional 16,394 shares during the last quarter. 73.76% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on HBAN shares. BidaskClub raised Huntington Bancshares from a “hold” rating to a “buy” rating in a research report on Wednesday, June 6th. Zacks Investment Research raised Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Tuesday, July 17th. Piper Jaffray Companies reissued a “buy” rating and issued a $16.50 target price on shares of Huntington Bancshares in a research report on Thursday, July 26th. Jefferies Financial Group boosted their target price on Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Finally, Morgan Stanley reaffirmed a “hold” rating and set a $17.50 price target on shares of Huntington Bancshares in a research report on Tuesday. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $17.25.
NASDAQ HBAN opened at $15.65 on Tuesday. Huntington Bancshares Incorporated has a 52 week low of $12.77 and a 52 week high of $16.60. The stock has a market cap of $17.29 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 0.86 and a beta of 1.33. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.95.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Wednesday, July 25th. The bank reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.13 billion. Huntington Bancshares had a net margin of 27.90% and a return on equity of 12.93%. During the same quarter in the prior year, the firm earned $0.26 EPS. sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.24 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Monday, September 17th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.58%. This is a positive change from Huntington Bancshares’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Friday, September 14th. Huntington Bancshares’s dividend payout ratio is currently 57.14%.
Huntington Bancshares Company Profile
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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