Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by Gulf International Bank UK Ltd
Gulf International Bank UK Ltd trimmed its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report) by 10.2% in the 4th quarter, HoldingsChannel reports. The firm owned 119,096 shares of the bank’s stock after selling 13,485 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Huntington Bancshares were worth $1,514,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Huntington Bancshares during the fourth quarter valued at $216,049,000. First Trust Advisors LP raised its position in Huntington Bancshares by 359.4% during the first quarter. First Trust Advisors LP now owns 18,947,586 shares of the bank’s stock valued at $212,213,000 after buying an additional 14,823,508 shares during the period. Boston Partners raised its position in Huntington Bancshares by 33.0% during the third quarter. Boston Partners now owns 29,277,030 shares of the bank’s stock valued at $304,439,000 after buying an additional 7,271,405 shares during the period. Schonfeld Strategic Advisors LLC raised its position in Huntington Bancshares by 2,536.9% during the first quarter. Schonfeld Strategic Advisors LLC now owns 5,936,016 shares of the bank’s stock valued at $66,483,000 after buying an additional 5,710,903 shares during the period. Finally, Victory Capital Management Inc. raised its position in Huntington Bancshares by 23.7% during the third quarter. Victory Capital Management Inc. now owns 17,925,067 shares of the bank’s stock valued at $186,421,000 after buying an additional 3,438,552 shares during the period. 78.68% of the stock is owned by hedge funds and other institutional investors.
Huntington Bancshares Trading Down 2.2 %
HBAN stock opened at $13.31 on Friday. The business has a fifty day moving average price of $12.91 and a 200 day moving average price of $11.72. Huntington Bancshares Incorporated has a fifty-two week low of $9.13 and a fifty-two week high of $13.77. The stock has a market capitalization of $19.30 billion, a price-to-earnings ratio of 10.73 and a beta of 1.09. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.87 and a quick ratio of 0.87.
Huntington Bancshares (NASDAQ:HBAN – Get Free Report) last posted its quarterly earnings results on Friday, January 19th. The bank reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.15. Huntington Bancshares had a return on equity of 12.96% and a net margin of 18.00%. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the company earned $0.43 EPS. Analysts expect that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.
Huntington Bancshares Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 18th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Friday, March 15th. This represents a $0.62 annualized dividend and a yield of 4.66%. Huntington Bancshares’s dividend payout ratio is presently 50.00%.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on HBAN. Morgan Stanley upped their target price on Huntington Bancshares from $13.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Barclays raised Huntington Bancshares from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $12.00 to $15.00 in a research report on Tuesday, January 2nd. StockNews.com lowered Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Friday, December 29th. Evercore ISI upgraded Huntington Bancshares from an “in-line” rating to an “outperform” rating and increased their target price for the company from $10.50 to $15.00 in a research note on Wednesday, January 3rd. Finally, Royal Bank of Canada raised their price objective on Huntington Bancshares from $12.00 to $15.00 and gave the stock an “outperform” rating in a research report on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $13.66.
View Our Latest Research Report on Huntington Bancshares
Insider Activity
In other news, Director Ann B. Crane sold 58,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $13.54, for a total value of $785,320.00. Following the sale, the director now directly owns 192,247 shares in the company, valued at $2,603,024.38. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Julie C. Tutkovics sold 15,541 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total transaction of $197,059.88. Following the completion of the sale, the vice president now owns 303,455 shares in the company, valued at $3,847,809.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ann B. Crane sold 58,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $13.54, for a total value of $785,320.00. Following the sale, the director now owns 192,247 shares of the company’s stock, valued at approximately $2,603,024.38. The disclosure for this sale can be found here. Insiders have sold a total of 102,241 shares of company stock worth $1,360,359 over the last three months. Corporate insiders own 0.89% of the company’s stock.
About Huntington Bancshares
Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.
Further Reading
Want to see what other hedge funds are holding HBAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report).
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