Oregon Public Employees Retirement Fund Reduces Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)
The Oregon Public Employees Retirement Fund reduced its holdings in Huntington Bancshares Incorporated (NASDAQ: HBAN – Get a rating) by 3.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor held 116,021 shares of the bank after selling 3,564 shares during the period. The Oregon Public Employees Retirement Fund’s holdings in Huntington Bancshares were worth $1,696,000 when it last filed with the SEC.
Other institutional investors also changed their positions in the company. UMB Bank NA MO bought a new equity stake from Huntington Bancshares in Q4 worth $52,000. PFG Advisors bought a new equity stake in Huntington Bancshares in Q1 for $194,000. AE Wealth Management LLC increased its stake in shares of Huntington Bancshares by 17.1% in the 1st quarter. AE Wealth Management LLC now owns 538,206 shares of the bank valued at $7,869,000 after purchasing an additional 78,435 shares last quarter. Yousif Capital Management LLC purchased a new equity stake from Huntington Bancshares in Q4 for $3,490,000. Finally, Pflug Koory LLC increased its stake in Huntington Bancshares shares by 135.8% in the 1st quarter. Pflug Koory LLC now owns 14,042 shares of the bank valued at $205,000 after buying an additional 8,088 shares last quarter. 79.26% of the shares are held by institutional investors.
Several brokerages have weighed in on HBAN. JPMorgan Chase & Co. cut shares of Huntington Bancshares from an ‘overweight’ rating to a ‘neutral’ rating and lowered its price target for the company from $17.50 to $14.50 in a research report Friday, July 1. Wedbush cut shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a price target of $14.00 for the company. in a research report on Thursday, June 30. Raymond James lowered his price target on shares of Huntington Bancshares from $18.00 to $16.00 and set a “strong buy” rating for the company in a research report on Thursday. Morgan Stanley lowered its price target on shares of Huntington Bancshares from $18.00 to $17.00 and set an “equal weight” rating for the company in a Monday, March 28 research report. To finish, StockNews.com upgraded Huntington Bancshares shares from a “sell” to a “hold” rating in a Friday, April 22 research report. Three equity research analysts have assigned the stock a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating for the stock. society. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.54.
NASDAQ: HBAN opened at $12.27 on Friday. The company has a 50-day moving average price of $12.91 and a 200-day moving average price of $14.42. Huntington Bancshares Incorporated has a 12-month low of $11.67 and a 12-month high of $17.79. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt ratio of 0.40. The stock has a market capitalization of $17.66 billion, a price-earnings ratio of 10.49 and a beta of 1.20.
Huntington Bench Shares (NASDAQ: HBAN – Get a rating) last released its quarterly results on Thursday, April 21. The bank reported earnings per share (EPS) of $0.32 for the quarter, beating the consensus estimate of $0.31 by $0.01. The company posted revenue of $1.65 billion in the quarter, compared to analysts’ estimates of $1.63 billion. Huntington Bancshares had a net margin of 26.96% and a return on equity of 12.19%. Huntington Bancshares’ quarterly revenue increased 20.3% compared to the same quarter last year. During the same period last year, the company achieved EPS of $0.48. Equity analysts expect Huntington Bancshares Incorporated to post an EPS of 1.41 for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 1. Investors of record on Friday, June 17 received a dividend of $0.155. The ex-dividend date was Thursday, June 16. This represents an annualized dividend of $0.62 and a dividend yield of 5.05%. Huntington Bancshares payout ratio is 52.99%.
In other Huntington Bancshares news, CEO Stephen D. Steinour bought 14,234 shares of the company in a deal that took place on Tuesday, April 26. The stock was purchased at an average price of $13.98 per share, for a total transaction of $198,991.32. Following the purchase, the CEO now directly owns 627,104 shares of the company, valued at $8,766,913.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, insider Helga Houston sold 28,166 shares of the company in a transaction dated Tuesday, May 31. The shares were sold at an average price of $13.77, for a total transaction of $387,845.82. Following the sale, the insider now owns 496,474 shares of the company, valued at $6,836,446.98. Disclosure of this sale can be found here. During the last quarter, insiders sold 48,327 shares of the company valued at $657,985. 0.72% of the shares are held by insiders of the company.
Profile of Huntington Bancshares (Get a rating)
Huntington Bancshares Incorporated operates as a bank holding company for Huntington National Bank which provides commercial, consumer and mortgage banking services in the United States. The Company operates through four segments: Personal and Commercial Banking; The Commercial Bank; Vehicle financing; and Regional Banking and The Huntington Private Client Group (RBHPCG).
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