Texas Permanent School Fund trimmed its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 8.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 247,886 shares of the bank’s stock after selling 21,759 shares during the quarter. Texas Permanent School Fund’s holdings in Huntington Bancshares were worth $3,698,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in HBAN. Dupont Capital Management Corp lifted its holdings in shares of Huntington Bancshares by 79.3% in the 2nd quarter. Dupont Capital Management Corp now owns 9,657 shares of the bank’s stock worth $143,000 after acquiring an additional 4,270 shares during the last quarter. GAM Holding AG bought a new stake in shares of Huntington Bancshares in the 2nd quarter worth approximately $154,000. Osborn Williams & Donohoe LLC bought a new stake in shares of Huntington Bancshares in the 2nd quarter worth approximately $158,000. Atria Investments LLC bought a new stake in shares of Huntington Bancshares in the 2nd quarter worth approximately $177,000. Finally, Global Retirement Partners LLC lifted its holdings in shares of Huntington Bancshares by 219.6% in the 3rd quarter. Global Retirement Partners LLC now owns 13,014 shares of the bank’s stock worth $194,000 after acquiring an additional 8,942 shares during the last quarter. Hedge funds and other institutional investors own 76.42% of the company’s stock.
In other Huntington Bancshares news, insider Helga Houston sold 42,608 shares of the business’s stock in a transaction on Tuesday, November 13th. The shares were sold at an average price of $14.66, for a total transaction of $624,633.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen D. Steinour bought 17,493 shares of the company’s stock in a transaction dated Thursday, October 25th. The shares were acquired at an average price of $13.48 per share, for a total transaction of $235,805.64. Following the acquisition, the chief executive officer now owns 4,768,399 shares in the company, valued at approximately $64,278,018.52. The disclosure for this purchase can be found here. 1.05% of the stock is currently owned by insiders.
A number of brokerages have recently weighed in on HBAN. Zacks Investment Research lowered shares of Huntington Bancshares from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. ValuEngine upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Monday, November 12th. BidaskClub upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating in a report on Saturday, August 4th. Jefferies Financial Group lifted their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, August 8th. Finally, BMO Capital Markets decreased their target price on shares of 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. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $17.03.
Huntington Bancshares stock traded down $0.15 during mid-day trading on Thursday, reaching $14.42. 11,393,663 shares of the company traded hands, compared to its average volume of 13,452,064. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.96. The company has a market cap of $15.47 billion, a P/E ratio of 14.71, a PEG ratio of 0.82 and a beta of 1.26. Huntington Bancshares Incorporated has a 52-week low of $13.13 and a 52-week high of $16.60.
Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.01. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.15 billion. Huntington Bancshares had a net margin of 29.13% and a return on equity of 13.73%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 EPS. Analysts predict that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Tuesday, December 18th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend is Monday, December 17th. Huntington Bancshares’s payout ratio is currently 57.14%.
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Huntington Bancshares Company 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's Consumer and Business Banking segment offers financial products and services, such as checking accounts, savings accounts, money market accounts, certificates of deposit, consumer loans, and small business loans; and investments, mortgages, insurance, interest rate risk protection, and foreign exchange and treasury management services.
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