BlackRock Inc. Increases Stake in Huntington Bancshares Incorporated (HBAN)

BlackRock Inc. increased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,444,449 shares of the bank’s stock after buying an additional 36,313 shares during the period. BlackRock Inc. owned about 6.54% of Huntington Bancshares worth $1,036,110,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in HBAN. Conning Inc. increased its stake in shares of Huntington Bancshares by 6,415.4% during the third quarter. Conning Inc. now owns 2,265,666 shares of the bank’s stock valued at $33,804,000 after buying an additional 2,230,892 shares during the period. Stelliam Investment Management LP purchased a new position in Huntington Bancshares in the second quarter valued at about $32,620,000. Janus Henderson Group PLC grew its stake in Huntington Bancshares by 437.2% in the second quarter. Janus Henderson Group PLC now owns 2,572,833 shares of the bank’s stock valued at $37,976,000 after purchasing an additional 2,093,922 shares during the last quarter. LSV Asset Management grew its stake in Huntington Bancshares by 45,997.9% in the second quarter. LSV Asset Management now owns 1,705,623 shares of the bank’s stock valued at $25,174,000 after purchasing an additional 1,701,923 shares during the last quarter. Finally, Zacks Investment Management purchased a new position in Huntington Bancshares in the second quarter valued at about $25,096,000. Hedge funds and other institutional investors own 76.42% of the company’s stock.

Shares of NASDAQ HBAN opened at $14.50 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.90 and a quick ratio of 0.89. The stock has a market capitalization of $15.58 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 0.83 and a beta of 1.26. Huntington Bancshares Incorporated has a fifty-two week low of $13.13 and a fifty-two week high of $16.60.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. Huntington Bancshares had a return on equity of 13.73% and a net margin of 29.13%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share. On average, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Tuesday, December 18th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend is Monday, December 17th. Huntington Bancshares’s dividend payout ratio is presently 57.14%.

In other news, CEO Stephen D. Steinour bought 17,493 shares of the firm’s stock in a transaction that occurred on Thursday, October 25th. The stock was purchased at an average price of $13.48 per share, with a total value of $235,805.64. Following the completion of the acquisition, the chief executive officer now directly owns 4,768,399 shares of the company’s stock, valued at approximately $64,278,018.52. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Helga Houston sold 42,608 shares of Huntington Bancshares stock in a transaction dated Tuesday, November 13th. The stock was sold at an average price of $14.66, for a total value of $624,633.28. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by company insiders.

Several research firms have issued reports on HBAN. Zacks Investment Research lowered Huntington Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. ValuEngine upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, November 12th. BidaskClub upgraded Huntington Bancshares from a “hold” rating to a “buy” rating in a research note on Saturday, August 4th. Jefferies Financial Group lifted their target price on Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, August 8th. Finally, BMO Capital Markets cut their target price on Huntington Bancshares from $17.00 to $15.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 24th. Fourteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $16.92.

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Huntington Bancshares 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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Institutional Ownership by Quarter for Huntington Bancshares (NASDAQ:HBAN)

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