Quantitative Investment Management LLC trimmed its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 28.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 375,700 shares of the bank’s stock after selling 147,100 shares during the period. Quantitative Investment Management LLC’s holdings in Huntington Bancshares were worth $5,470,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Huntington Bancshares by 0.3% during the 4th quarter. BlackRock Inc. now owns 68,403,363 shares of the bank’s stock valued at $995,953,000 after purchasing an additional 221,404 shares in the last quarter. Capital International Investors grew its holdings in Huntington Bancshares by 13.2% during the 3rd quarter. Capital International Investors now owns 49,719,215 shares of the bank’s stock worth $694,080,000 after acquiring an additional 5,800,000 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Huntington Bancshares by 4.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 14,756,634 shares of the bank’s stock worth $214,857,000 after acquiring an additional 641,856 shares in the last quarter. Geode Capital Management LLC grew its holdings in Huntington Bancshares by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 12,108,854 shares of the bank’s stock worth $175,960,000 after acquiring an additional 251,349 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Huntington Bancshares by 1.6% during the 4th quarter. Bank of New York Mellon Corp now owns 8,802,626 shares of the bank’s stock worth $128,166,000 after acquiring an additional 139,491 shares in the last quarter. 74.07% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on the stock. ValuEngine lowered shares of Huntington Bancshares from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Morgan Stanley raised their price objective on shares of Huntington Bancshares from $16.50 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. BidaskClub raised shares of Huntington Bancshares from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 7th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $16.75 price objective on shares of Huntington Bancshares in a report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Nine investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $16.76.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.26 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. Huntington Bancshares had a net margin of 25.02% and a return on equity of 12.12%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the business posted $0.18 EPS. analysts anticipate that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 19th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, March 16th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 44.00%.
About Huntington Bancshares
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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