Palouse Capital Management Inc. lessened its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 440,829 shares of the bank’s stock after selling 4,027 shares during the period. Huntington Bancshares makes up approximately 2.3% of Palouse Capital Management Inc.’s holdings, making the stock its 12th largest position. Palouse Capital Management Inc.’s holdings in Huntington Bancshares were worth $6,577,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the business. Miller Howard Investments Inc. NY grew its position in shares of Huntington Bancshares by 0.6% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 5,126,940 shares of the bank’s stock valued at $76,494,000 after acquiring an additional 31,245 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Huntington Bancshares during the 3rd quarter valued at $713,000. CWM LLC grew its position in shares of Huntington Bancshares by 6,186.9% during the 3rd quarter. CWM LLC now owns 17,226 shares of the bank’s stock valued at $257,000 after acquiring an additional 16,952 shares during the period. Levin Capital Strategies L.P. grew its position in shares of Huntington Bancshares by 1.5% during the 3rd quarter. Levin Capital Strategies L.P. now owns 452,112 shares of the bank’s stock valued at $6,746,000 after acquiring an additional 6,717 shares during the period. Finally, Conning Inc. grew its position in shares of Huntington Bancshares by 6,415.4% during the 3rd quarter. Conning Inc. now owns 2,265,666 shares of the bank’s stock valued at $33,804,000 after acquiring an additional 2,230,892 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on the stock. Raymond James cut their price objective on shares of Huntington Bancshares from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, October 24th. BMO Capital Markets cut their price objective on shares of Huntington Bancshares from $17.00 to $15.00 and set a “market perform” rating for the company in a research report on Wednesday, October 24th. ValuEngine downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Monday, October 22nd. Zacks Investment Research downgraded shares of Huntington Bancshares from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. Finally, Vining Sparks reaffirmed a “buy” rating and issued a $19.00 target price on shares of Huntington Bancshares in a report on Tuesday, October 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $17.19.
Huntington Bancshares stock traded up $0.27 during mid-day trading on Monday, hitting $13.88. The stock had a trading volume of 11,030,216 shares, compared to its average volume of 9,842,786. The company has a market capitalization of $15.03 billion, a P/E ratio of 14.16, a P/E/G ratio of 0.76 and a beta of 1.35. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.89 and a current ratio of 0.90. Huntington Bancshares Incorporated has a one year low of $13.04 and a one year high of $16.60.
Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Tuesday, October 23rd. The bank reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. The company had revenue of $1.15 billion during 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%. Huntington Bancshares’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 EPS. Analysts forecast that Huntington Bancshares Incorporated will post 1.22 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Tuesday, December 18th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Monday, December 17th. Huntington Bancshares’s payout ratio is currently 57.14%.
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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