Bridgewater Associates LP Invests $415,000 in Huntington Bancshares Incorporated (HBAN)
Bridgewater Associates LP acquired a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 27,809 shares of the bank’s stock, valued at approximately $415,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Conning Inc. boosted its holdings in shares of Huntington Bancshares by 6,415.4% during the 3rd quarter. Conning Inc. now owns 2,265,666 shares of the bank’s stock worth $33,804,000 after buying an additional 2,230,892 shares during the period. Stelliam Investment Management LP bought a new stake in shares of Huntington Bancshares during the 2nd quarter worth about $32,620,000. Janus Henderson Group PLC boosted its holdings in shares of Huntington Bancshares by 437.2% during the 2nd quarter. Janus Henderson Group PLC now owns 2,572,833 shares of the bank’s stock worth $37,976,000 after buying an additional 2,093,922 shares during the period. LSV Asset Management boosted its holdings in shares of Huntington Bancshares by 45,997.9% during the 2nd quarter. LSV Asset Management now owns 1,705,623 shares of the bank’s stock worth $25,174,000 after buying an additional 1,701,923 shares during the period. Finally, Zacks Investment Management bought a new stake in shares of Huntington Bancshares during the 2nd quarter worth about $25,096,000. 76.88% of the stock is owned by institutional investors.
Several analysts recently commented on the stock. Zacks Investment Research downgraded shares of Huntington Bancshares from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. ValuEngine raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Monday, November 12th. BMO Capital Markets dropped their price objective on shares of Huntington Bancshares from $17.00 to $15.00 and set a “market perform” rating for the company in a research note on Wednesday, October 24th. BidaskClub cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Vining Sparks reiterated a “buy” rating and issued a $19.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, October 9th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $16.92.
Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Huntington Bancshares had a net margin of 29.13% and a return on equity of 13.73%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.25 EPS. As a group, equities research analysts expect that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Tuesday, December 18th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend is Monday, December 17th. Huntington Bancshares’s payout ratio is presently 57.14%.
In other news, Director Richard W. Neu bought 6,750 shares of the company’s stock in a transaction dated Tuesday, October 30th. The stock was bought at an average cost of $13.88 per share, for a total transaction of $93,690.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Stephen D. Steinour bought 17,493 shares of the company’s stock in a transaction dated Thursday, October 25th. The stock was purchased at an average price of $13.48 per share, with a total value of $235,805.64. Following the completion of the transaction, the chief executive officer now directly owns 4,768,399 shares in the company, valued at approximately $64,278,018.52. The disclosure for this purchase can be found here. 1.05% of the stock is currently owned by insiders.
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 operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).
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