Gabelli Funds LLC lessened its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 10.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 450,000 shares of the bank’s stock after selling 50,000 shares during the quarter. Gabelli Funds LLC’s holdings in Huntington Bancshares were worth $6,422,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Baystate Wealth Management LLC bought a new stake in shares of Huntington Bancshares during the 3rd quarter valued at about $31,000. Cornerstone Advisors Inc. boosted its position in shares of Huntington Bancshares by 106.5% during the 2nd quarter. Cornerstone Advisors Inc. now owns 2,305 shares of the bank’s stock valued at $32,000 after acquiring an additional 1,189 shares during the last quarter. HM Payson & Co. bought a new stake in shares of Huntington Bancshares during the 2nd quarter valued at about $40,000. Synovus Financial Corp boosted its position in shares of Huntington Bancshares by 135.5% during the 3rd quarter. Synovus Financial Corp now owns 2,777 shares of the bank’s stock valued at $40,000 after acquiring an additional 1,598 shares during the last quarter. Finally, Horan Capital Advisors LLC. bought a new stake in shares of Huntington Bancshares during the 3rd quarter valued at about $41,000. Hedge funds and other institutional investors own 75.61% of the company’s stock.
NASDAQ:HBAN opened at $14.98 on Friday. The business has a 50 day moving average of $14.25 and a 200 day moving average of $13.70. The company has a market capitalization of $15.36 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 2.80 and a beta of 1.45. Huntington Bancshares Incorporated has a 1-year low of $11.12 and a 1-year high of $15.16. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.91 and a quick ratio of 0.90.
Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, October 24th. The bank reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. Huntington Bancshares had a return on equity of 13.83% and a net margin of 25.24%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company posted $0.33 EPS. Huntington Bancshares’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.3 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be given a $0.15 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $0.60 annualized dividend and a yield of 4.01%. Huntington Bancshares’s payout ratio is currently 50.00%.
In other Huntington Bancshares news, insider Helga Houston sold 14,055 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $14.23, for a total value of $200,002.65. Following the completion of the sale, the insider now owns 474,498 shares in the company, valued at $6,752,106.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard Remiker sold 29,405 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $14.32, for a total value of $421,079.60. Following the completion of the sale, the executive vice president now owns 369,076 shares of the company’s stock, valued at approximately $5,285,168.32. The disclosure for this sale can be found here. Insiders sold 85,964 shares of company stock valued at $1,247,099 in the last quarter. Corporate insiders own 1.22% of the company’s stock.
A number of research firms recently weighed in on HBAN. Raymond James restated a “buy” rating and issued a $16.00 target price on shares of Huntington Bancshares in a research report on Friday, October 25th. Nomura set a $14.00 target price on Huntington Bancshares and gave the stock a “hold” rating in a research report on Friday, July 26th. Bank of America downgraded Huntington Bancshares from a “buy” rating to a “neutral” rating and set a $15.00 target price for the company. in a research report on Friday, October 25th. BidaskClub upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, September 2nd. Finally, Macquarie downgraded Huntington Bancshares from a “neutral” rating to an “underperform” rating and set a $13.78 target price for the company. in a research report on Friday, July 12th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. Huntington Bancshares currently has an average rating of “Hold” and a consensus price target of $15.20.
About Huntington Bancshares
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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