Karp Capital Management Corp acquired a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 400,545 shares of the bank’s stock, valued at approximately $5,363,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of HBAN. FMR LLC increased its position in shares of Huntington Bancshares by 10.7% in the fourth quarter. FMR LLC now owns 80,740,836 shares of the bank’s stock worth $1,067,393,000 after buying an additional 7,795,713 shares during the last quarter. State Street Corp increased its position in shares of Huntington Bancshares by 7.8% in the fourth quarter. State Street Corp now owns 63,926,011 shares of the bank’s stock worth $845,097,000 after buying an additional 4,598,441 shares during the last quarter. Boston Partners increased its position in shares of Huntington Bancshares by 29.5% in the first quarter. Boston Partners now owns 34,218,873 shares of the bank’s stock worth $458,191,000 after buying an additional 7,804,639 shares during the last quarter. Norges Bank purchased a new position in shares of Huntington Bancshares during the fourth quarter worth about $200,168,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Huntington Bancshares during the third quarter worth about $125,437,000. 70.49% of the stock is currently owned by hedge funds and other institutional investors.
Huntington Bancshares Incorporated (NASDAQ:HBAN) traded up 0.64% during trading on Friday, hitting $12.58. 5,885,093 shares of the company traded hands. The company’s 50-day moving average is $12.96 and its 200 day moving average is $13.09. The firm has a market cap of $13.68 billion, a price-to-earnings ratio of 18.66 and a beta of 1.24. Huntington Bancshares Incorporated has a 52-week low of $8.05 and a 52-week high of $14.74.
Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Wednesday, April 19th. The bank reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. Huntington Bancshares had a net margin of 18.11% and a return on equity of 11.09%. The firm’s revenue was up 39.8% compared to the same quarter last year. During the same period last year, the business earned $0.20 EPS. On average, equities analysts anticipate that Huntington Bancshares Incorporated will post $0.92 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Monday, June 19th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $0.32 annualized dividend and a yield of 2.56%. Huntington Bancshares’s dividend payout ratio (DPR) is 47.06%.
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HBAN has been the topic of a number of analyst reports. Hilliard Lyons downgraded shares of Huntington Bancshares from a “buy” rating to a “neutral” rating in a research report on Thursday, January 26th. BMO Capital Markets reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Huntington Bancshares in a research report on Friday, April 28th. FBR & Co lifted their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 25th. Keefe, Bruyette & Woods set a $14.00 price objective on shares of Huntington Bancshares and gave the stock a “hold” rating in a research report on Monday, April 3rd. Finally, Zacks Investment Research downgraded shares of Huntington Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, April 12th. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Huntington Bancshares presently has a consensus rating of “Buy” and an average price target of $13.96.
In other news, CEO Stephen D. Steinour bought 50,000 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, May 18th. The shares were purchased at an average price of $12.40 per share, with a total value of $620,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,891,831 shares in the company, valued at $48,258,704.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John C. Inglis bought 7,142 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, February 28th. The stock was purchased at an average cost of $14.06 per share, for a total transaction of $100,416.52. Following the acquisition, the director now owns 7,142 shares of the company’s stock, valued at $100,416.52. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 72,632 shares of company stock worth $920,547 and sold 38,115 shares worth $494,033. 1.65% of the stock is owned by company insiders.
Huntington Bancshares Company Profile
Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.
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