Quadrature Capital Ltd purchased a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 181,545 shares of the bank’s stock, valued at approximately $1,641,000.
A number of other hedge funds also recently bought and sold shares of HBAN. Lincoln National Corp increased its position in Huntington Bancshares by 13.1% during the 1st quarter. Lincoln National Corp now owns 19,249 shares of the bank’s stock valued at $158,000 after purchasing an additional 2,233 shares during the period. Dupont Capital Management Corp increased its position in Huntington Bancshares by 330.5% during the 1st quarter. Dupont Capital Management Corp now owns 50,030 shares of the bank’s stock valued at $411,000 after purchasing an additional 38,408 shares during the period. Brinker Capital Inc. increased its position in Huntington Bancshares by 16.9% during the 1st quarter. Brinker Capital Inc. now owns 31,551 shares of the bank’s stock valued at $263,000 after purchasing an additional 4,568 shares during the period. Robeco Institutional Asset Management B.V. increased its position in Huntington Bancshares by 6.1% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 202,039 shares of the bank’s stock valued at $1,658,000 after purchasing an additional 11,568 shares during the period. Finally, Comerica Bank increased its position in Huntington Bancshares by 1.5% during the 1st quarter. Comerica Bank now owns 280,406 shares of the bank’s stock valued at $2,287,000 after purchasing an additional 4,045 shares during the period. 71.45% of the stock is currently owned by institutional investors.
Shares of NASDAQ:HBAN traded up $0.29 during trading on Friday, hitting $9.94. 9,643,830 shares of the stock traded hands, compared to its average volume of 7,230,201. Huntington Bancshares Incorporated has a 52-week low of $6.82 and a 52-week high of $15.63. The company has a quick ratio of 0.90, a current ratio of 0.92 and a debt-to-equity ratio of 0.92. The company has a fifty day moving average price of $9.46 and a two-hundred day moving average price of $9.38. The company has a market cap of $10.11 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 3.43 and a beta of 1.49.
Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, July 23rd. The bank reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.09. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Huntington Bancshares had a net margin of 16.27% and a return on equity of 8.35%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 EPS. On average, equities research analysts predict that Huntington Bancshares Incorporated will post 0.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 17th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.60 annualized dividend and a dividend yield of 6.04%. Huntington Bancshares’s payout ratio is 47.24%.
A number of research analysts have commented on the stock. Wolfe Research assumed coverage on shares of Huntington Bancshares in a research report on Friday, July 31st. They set an “outperform” rating on the stock. Morgan Stanley raised their price target on shares of Huntington Bancshares from $10.50 to $11.00 and gave the company an “equal weight” rating in a report on Monday, June 8th. BMO Capital Markets raised their price target on shares of Huntington Bancshares from $9.00 to $10.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Royal Bank of Canada raised their price target on shares of Huntington Bancshares from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Thursday, June 11th. Finally, ValuEngine upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, June 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $10.04.
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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