Moody National Bank Trust Division raised its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) by 120.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,439 shares of the bank’s stock after acquiring an additional 16,600 shares during the quarter. Moody National Bank Trust Division’s holdings in Huntington Bancshares were worth $367,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. PDS Planning Inc raised its stake in Huntington Bancshares by 3.0% in the 1st quarter. PDS Planning Inc now owns 26,368 shares of the bank’s stock valued at $386,000 after purchasing an additional 778 shares during the last quarter. Wrapmanager Inc. boosted its position in Huntington Bancshares by 2.6% during the first quarter. Wrapmanager Inc. now owns 31,433 shares of the bank’s stock worth $460,000 after acquiring an additional 793 shares during the last quarter. Guardian Wealth Management Inc. boosted its position in Huntington Bancshares by 3.5% during the first quarter. Guardian Wealth Management Inc. now owns 24,852 shares of the bank’s stock worth $363,000 after acquiring an additional 835 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in Huntington Bancshares by 0.4% during the 1st quarter. Mutual of America Capital Management LLC now owns 191,877 shares of the bank’s stock valued at $2,805,000 after acquiring an additional 844 shares in the last quarter. Finally, Todd Asset Management LLC raised its holdings in Huntington Bancshares by 1.6% in the 1st quarter. Todd Asset Management LLC now owns 59,055 shares of the bank’s stock valued at $863,000 after acquiring an additional 914 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.
Insider Activity at Huntington Bancshares
In other news, Director Gary Torgow acquired 19,382 shares of the company’s stock in a transaction on Wednesday, July 27th. The shares were bought at an average cost of $12.90 per share, with a total value of $250,027.80. Following the transaction, the director now owns 893,301 shares in the company, valued at approximately $11,523,582.90. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Zachary Jacob Wasserman sold 11,618 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $14.36, for a total transaction of $166,834.48. Following the completion of the sale, the chief financial officer now owns 230,394 shares in the company, valued at $3,308,457.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gary Torgow purchased 19,382 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was bought at an average price of $12.90 per share, for a total transaction of $250,027.80. Following the completion of the purchase, the director now directly owns 893,301 shares of the company’s stock, valued at $11,523,582.90. The disclosure for this purchase can be found here. 0.72% of the stock is owned by corporate insiders.
Huntington Bancshares Price Performance
Huntington Bancshares (NASDAQ:HBAN – Get Rating) last announced its quarterly earnings data on Thursday, July 21st. The bank reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. Huntington Bancshares had a return on equity of 13.11% and a net margin of 25.58%. During the same period in the previous year, the company earned $0.35 EPS. On average, research analysts expect that Huntington Bancshares Incorporated will post 1.46 EPS for the current fiscal year.
Huntington Bancshares Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 19th will be paid a dividend of $0.155 per share. The ex-dividend date is Friday, September 16th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.42%. Huntington Bancshares’s payout ratio is 55.36%.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on HBAN. Wedbush lowered Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $14.00 price target for the company. in a research report on Thursday, June 30th. Jefferies Financial Group reduced their price target on Huntington Bancshares from $14.50 to $13.00 in a report on Monday, July 11th. Keefe, Bruyette & Woods lowered shares of Huntington Bancshares from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $17.00 to $15.00 in a report on Thursday, June 2nd. Piper Sandler downgraded shares of Huntington Bancshares from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $14.00 to $13.50 in a research note on Friday, July 8th. Finally, Raymond James reduced their price target on shares of Huntington Bancshares from $18.00 to $16.00 and set a “strong-buy” rating on the stock in a research report on Thursday, July 7th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $15.13.
Huntington Bancshares Profile
Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).
- Get a free copy of the StockNews.com research report on Huntington Bancshares (HBAN)
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