Pacer Advisors Inc. increased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 13.5% during the 2nd quarter, Holdings Channel reports. The firm owned 100,299 shares of the bank’s stock after buying an additional 11,960 shares during the period. Pacer Advisors Inc.’s holdings in Huntington Bancshares were worth $1,386,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Cornerstone Advisors Inc. grew its stake in shares of Huntington Bancshares by 106.5% in the second quarter. Cornerstone Advisors Inc. now owns 2,305 shares of the bank’s stock worth $32,000 after purchasing an additional 1,189 shares during the last quarter. Trustcore Financial Services LLC bought a new stake in shares of Huntington Bancshares in the first quarter worth about $39,000. Bremer Bank National Association bought a new stake in shares of Huntington Bancshares in the first quarter worth about $53,000. Icon Wealth Partners LLC bought a new stake in shares of Huntington Bancshares in the first quarter worth about $57,000. Finally, AdvisorNet Financial Inc grew its stake in shares of Huntington Bancshares by 28.5% in the second quarter. AdvisorNet Financial Inc now owns 4,414 shares of the bank’s stock worth $61,000 after purchasing an additional 980 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.
HBAN traded up $0.17 on Friday, hitting $14.82. The company had a trading volume of 393,605 shares, compared to its average volume of 7,950,907. The stock has a fifty day simple moving average of $13.33 and a 200-day simple moving average of $13.47. Huntington Bancshares Incorporated has a 52-week low of $11.12 and a 52-week high of $16.06. The firm has a market capitalization of $14.91 billion, a P/E ratio of 12.35, a P/E/G ratio of 1.57 and a beta of 1.44. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.90 and a quick ratio of 0.90.
Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, July 25th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.01. Huntington Bancshares had a net margin of 25.77% and a return on equity of 14.23%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the business earned $0.30 earnings per share. The business’s revenue was up 5.9% on a year-over-year basis. Equities research analysts expect that Huntington Bancshares Incorporated will post 1.3 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be given a dividend of $0.15 per share. The ex-dividend date is Monday, September 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.05%. This is an increase from Huntington Bancshares’s previous quarterly dividend of $0.14. Huntington Bancshares’s dividend payout ratio (DPR) is 46.67%.
In other Huntington Bancshares news, EVP Nancy E. Maloney sold 2,604 shares of Huntington Bancshares stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $14.57, for a total value of $37,940.28. Following the completion of the sale, the executive vice president now owns 80,103 shares of the company’s stock, valued at approximately $1,167,100.71. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.22% of the stock is owned by company insiders.
Several analysts have commented on the stock. Nomura set a $14.00 price objective on shares of Huntington Bancshares and gave the stock a “hold” rating in a report on Friday, July 26th. Zacks Investment Research upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, May 21st. Raymond James set a $14.00 price objective on shares of Huntington Bancshares and gave the stock a “buy” rating in a report on Thursday, August 29th. ValuEngine lowered shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, Macquarie lowered shares of Huntington Bancshares from a “neutral” rating to an “underperform” rating and set a $13.78 price objective for the company. in a report on Friday, July 12th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $15.48.
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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