Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Acquired by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan lifted its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 543.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 91,870 shares of the bank’s stock after purchasing an additional 77,600 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Huntington Bancshares were worth $1,269,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in Huntington Bancshares by 13.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,117,471 shares of the bank’s stock valued at $168,284,000 after buying an additional 1,714,381 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Huntington Bancshares by 5.1% during the fourth quarter. Geode Capital Management LLC now owns 14,526,595 shares of the bank’s stock worth $172,863,000 after purchasing an additional 709,854 shares during the last quarter. Two Sigma Advisers LP bought a new position in shares of Huntington Bancshares during the fourth quarter worth about $397,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Huntington Bancshares during the first quarter worth about $738,000. Finally, Raymond James Trust N.A. lifted its position in shares of Huntington Bancshares by 26.8% during the first quarter. Raymond James Trust N.A. now owns 69,410 shares of the bank’s stock worth $880,000 after purchasing an additional 14,672 shares during the last quarter. Institutional investors and hedge funds own 76.23% of the company’s stock.

Several equities analysts have recently commented on HBAN shares. Zacks Investment Research raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, May 21st. Macquarie cut shares of Huntington Bancshares from a “neutral” rating to an “underperform” rating and set a $13.78 price target on the stock. in a research report on Friday, July 12th. BidaskClub cut shares of Huntington Bancshares from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. ValuEngine cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, Argus started coverage on shares of Huntington Bancshares in a research report on Friday, May 31st. They set a “hold” rating on the stock. Three analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $15.63.



In other Huntington Bancshares news, CEO Stephen D. Steinour acquired 18,000 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were purchased at an average price of $13.33 per share, for a total transaction of $239,940.00. Following the completion of the purchase, the chief executive officer now directly owns 5,142,348 shares in the company, valued at $68,547,498.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Paul G. Heller sold 33,772 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $13.08, for a total transaction of $441,737.76. Following the sale, the executive vice president now owns 458,479 shares in the company, valued at approximately $5,996,905.32. The disclosure for this sale can be found here. 1.22% of the stock is owned by corporate insiders.

HBAN traded down $0.37 on Wednesday, hitting $12.53. 146,824 shares of the company’s stock were exchanged, compared to its average volume of 11,506,599. The firm has a market capitalization of $13.23 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 1.42 and a beta of 1.40. Huntington Bancshares Incorporated has a twelve month low of $11.12 and a twelve month high of $16.52. The company’s fifty day simple moving average is $13.72. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, July 25th. The bank reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. Huntington Bancshares had a net margin of 25.77% and a return on equity of 14.23%. Huntington Bancshares’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 earnings per share. On average, equities analysts expect that Huntington Bancshares Incorporated will post 1.3 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be paid a dividend of $0.15 per share. This is a positive change from Huntington Bancshares’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 4.79%. Huntington Bancshares’s dividend payout ratio is 46.67%.

About Huntington Bancshares

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 operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).

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Institutional Ownership by Quarter for Huntington Bancshares (NASDAQ:HBAN)

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