California Public Employees Retirement System Grows Position in Huntington Bancshares Incorporated $HBAN

California Public Employees Retirement System raised its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 31.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 3,631,775 shares of the bank’s stock after purchasing an additional 859,090 shares during the quarter. California Public Employees Retirement System’s holdings in Huntington Bancshares were worth $56,837,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in shares of Huntington Bancshares by 4,265.5% during the 4th quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock valued at $1,215,955,000 after buying an additional 68,478,435 shares during the period. Norges Bank acquired a new stake in shares of Huntington Bancshares during the 4th quarter worth $432,584,000. Vanguard Group Inc. raised its position in shares of Huntington Bancshares by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock worth $3,319,385,000 after buying an additional 14,338,222 shares during the period. Marshall Wace LLP grew its position in Huntington Bancshares by 2,458.7% during the fourth quarter. Marshall Wace LLP now owns 4,516,068 shares of the bank’s stock valued at $78,354,000 after acquiring an additional 4,339,571 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Huntington Bancshares during the fourth quarter valued at about $75,236,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

HBAN stock opened at $18.25 on Monday. The firm has a market cap of $37.00 billion, a P/E ratio of 14.04, a price-to-earnings-growth ratio of 0.82 and a beta of 0.93. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. Huntington Bancshares Incorporated has a 1 year low of $14.89 and a 1 year high of $19.45. The stock has a 50-day simple moving average of $16.90 and a 200-day simple moving average of $16.92.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The firm had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter in the prior year, the business earned $0.34 EPS. On average, equities analysts predict that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th were given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, June 17th. Huntington Bancshares’s payout ratio is presently 47.69%.

Analyst Ratings Changes

A number of research firms have recently commented on HBAN. The Goldman Sachs Group cut their price objective on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Barclays lowered shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. JPMorgan Chase & Co. lifted their price target on shares of Huntington Bancshares from $18.50 to $19.50 and gave the company an “overweight” rating in a research report on Monday, July 6th. Wolfe Research decreased their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. Finally, UBS Group increased their price objective on shares of Huntington Bancshares from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and an average target price of $20.25.

Insider Buying and Selling at Huntington Bancshares

In related news, Director James D. Rollins III sold 223,522 shares of Huntington Bancshares stock in a transaction on Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the sale, the director owned 612,155 shares of the company’s stock, valued at $10,620,889.25. The trade was a 26.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Marcy C. Hingst sold 10,568 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the transaction, the executive vice president owned 267,859 shares in the company, valued at $4,821,462. This represents a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders bought 33,500 shares of company stock valued at $617,542 over the last 90 days. Insiders own 0.67% of the company’s stock.

Huntington Bancshares Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.