Huntington Bancshares Incorporated (HBAN) Position Boosted by California Public Employees Retirement System
California Public Employees Retirement System increased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 5.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,592,516 shares of the bank’s stock after buying an additional 140,974 shares during the period. California Public Employees Retirement System’s holdings in Huntington Bancshares were worth $32,873,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Gravity Companies Inc. acquired a new position in Huntington Bancshares during the fourth quarter worth $25,000. JOYN Advisors Inc. increased its holdings in shares of Huntington Bancshares by 207.5% in the fourth quarter. JOYN Advisors Inc. now owns 2,079 shares of the bank’s stock valued at $25,000 after purchasing an additional 1,403 shares during the last quarter. FTB Advisors Inc. increased its holdings in shares of Huntington Bancshares by 1,100.5% in the fourth quarter. FTB Advisors Inc. now owns 2,401 shares of the bank’s stock valued at $28,000 after purchasing an additional 2,201 shares during the last quarter. We Are One Seven LLC acquired a new position in shares of Huntington Bancshares in the fourth quarter valued at $29,000. Finally, Transamerica Financial Advisors Inc. increased its holdings in shares of Huntington Bancshares by 562.0% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 2,721 shares of the bank’s stock valued at $33,000 after purchasing an additional 2,310 shares during the last quarter. Institutional investors and hedge funds own 77.97% of the company’s stock.
Several research firms have commented on HBAN. ValuEngine downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday. Zacks Investment Research upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Monday, May 6th. Vining Sparks reiterated a “buy” rating and issued a $18.00 price objective on shares of Huntington Bancshares in a report on Thursday, January 24th. BidaskClub downgraded shares of Huntington Bancshares from a “sell” rating to a “strong sell” rating in a report on Monday, February 4th. Finally, Jefferies Financial Group downgraded shares of Huntington Bancshares from a “buy” rating to a “hold” rating and set a $14.00 price objective on the stock. in a report on Monday, January 28th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. Huntington Bancshares presently has an average rating of “Hold” and an average price target of $16.10.
Shares of Huntington Bancshares stock opened at $12.97 on Thursday. The stock has a market capitalization of $13.57 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 1.10 and a beta of 1.37. Huntington Bancshares Incorporated has a 52-week low of $11.12 and a 52-week high of $16.52. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.90 and a quick ratio of 0.89.
Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, April 25th. The bank reported $0.32 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.32. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Huntington Bancshares had a net margin of 26.24% and a return on equity of 14.20%. Huntington Bancshares’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.28 earnings per share. As a group, analysts anticipate that Huntington Bancshares Incorporated will post 1.32 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a $0.14 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.32%. Huntington Bancshares’s payout ratio is presently 46.67%.
Huntington Bancshares 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).
Further Reading: Oversold
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