Trexquant Investment LP Purchases New Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Trexquant Investment LP acquired a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 4th quarter, Holdings Channel.com reports. The firm acquired 315,931 shares of the bank’s stock, valued at approximately $5,140,000.

A number of other institutional investors also recently made changes to their positions in the company. Rockefeller Capital Management L.P. boosted its stake in Huntington Bancshares by 11.4% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 129,285 shares of the bank’s stock valued at $1,900,000 after purchasing an additional 13,193 shares during the period. Benjamin Edwards Inc. boosted its position in shares of Huntington Bancshares by 1,840.2% in the third quarter. Benjamin Edwards Inc. now owns 67,693 shares of the bank’s stock valued at $995,000 after acquiring an additional 64,204 shares during the period. Hilltop Holdings Inc. increased its position in Huntington Bancshares by 4.3% during the third quarter. Hilltop Holdings Inc. now owns 39,257 shares of the bank’s stock worth $577,000 after acquiring an additional 1,619 shares during the period. Investment Management Corp of Ontario raised its stake in Huntington Bancshares by 48.0% in the 3rd quarter. Investment Management Corp of Ontario now owns 48,110 shares of the bank’s stock worth $707,000 after purchasing an additional 15,600 shares in the last quarter. Finally, Integrated Wealth Concepts LLC boosted its holdings in Huntington Bancshares by 1.3% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 62,392 shares of the bank’s stock valued at $917,000 after purchasing an additional 800 shares during the period. Institutional investors own 80.72% of the company’s stock.

Insider Transactions at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 38,451 shares of Huntington Bancshares stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total transaction of $552,925.38. Following the completion of the transaction, the chief financial officer now owns 335,538 shares of the company’s stock, valued at $4,825,036.44. This trade represents a 10.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Scott D. Kleinman sold 69,088 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the sale, the vice president now directly owns 453,129 shares in the company, valued at $6,647,402.43. This trade represents a 13.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,781 shares of company stock worth $1,631,151 over the last ninety days. 0.89% of the stock is owned by insiders.

Huntington Bancshares Stock Performance

Huntington Bancshares stock opened at $12.60 on Friday. The business has a 50 day moving average of $15.79 and a 200-day moving average of $16.13. The company has a market capitalization of $18.41 billion, a P/E ratio of 10.24, a P/E/G ratio of 1.33 and a beta of 0.89. Huntington Bancshares Incorporated has a 1 year low of $12.05 and a 1 year high of $18.45. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter in the prior year, the company earned $0.27 earnings per share. On average, equities research analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were given a $0.155 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.92%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating for the company in a research report on Thursday. Baird R W upgraded Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. Citigroup decreased their price target on Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Robert W. Baird upgraded shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price objective on the stock in a research note on Friday, March 7th. Finally, Barclays boosted their target price on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.94.

Huntington Bancshares Company 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 offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.