Landmark Bank boosted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 7.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,556 shares of the bank’s stock after purchasing an additional 1,748 shares during the quarter. Landmark Bank’s holdings in Huntington Bancshares were worth $367,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Farmers & Merchants Investments Inc. increased its position in shares of Huntington Bancshares by 5.3% during the second quarter. Farmers & Merchants Investments Inc. now owns 14,193 shares of the bank’s stock worth $196,000 after acquiring an additional 716 shares during the period. Hartford Investment Management Co. lifted its stake in shares of Huntington Bancshares by 0.6% during the second quarter. Hartford Investment Management Co. now owns 120,515 shares of the bank’s stock worth $1,666,000 after buying an additional 754 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Huntington Bancshares by 6.3% during the first quarter. Global Retirement Partners LLC now owns 13,937 shares of the bank’s stock worth $177,000 after buying an additional 832 shares during the period. Ballentine Partners LLC lifted its stake in shares of Huntington Bancshares by 3.9% during the second quarter. Ballentine Partners LLC now owns 24,489 shares of the bank’s stock worth $338,000 after buying an additional 925 shares during the period. Finally, AdvisorNet Financial Inc lifted its stake in shares of Huntington Bancshares by 28.5% during the second quarter. AdvisorNet Financial Inc now owns 4,414 shares of the bank’s stock worth $61,000 after buying an additional 980 shares during the period. Institutional investors and hedge funds own 76.23% of the company’s stock.
Several research firms have recently commented on HBAN. Argus began coverage on shares of Huntington Bancshares in a research note on Friday, May 31st. They set a “hold” rating for the company. Macquarie downgraded shares of Huntington Bancshares from a “neutral” rating to an “underperform” rating and set a $13.78 target price for the company. in a research report on Friday, July 12th. BMO Capital Markets downgraded shares of Huntington Bancshares from a “market perform” rating to an “underperform” rating and set a $14.00 target price for the company. in a research report on Monday, July 8th. Zacks Investment Research upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, May 21st. Finally, BidaskClub downgraded shares of Huntington Bancshares from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Huntington Bancshares presently has an average rating of “Hold” and a consensus target price of $15.63.
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, beating analysts’ consensus estimates of $0.32 by $0.01. Huntington Bancshares had a net margin of 25.77% and a return on equity of 14.23%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the company earned $0.30 earnings per share. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, analysts predict that Huntington Bancshares Incorporated will post 1.3 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be issued a $0.15 dividend. This is a boost from Huntington Bancshares’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a yield of 4.66%. Huntington Bancshares’s payout ratio is presently 46.67%.
In other Huntington Bancshares news, EVP Nancy E. Maloney sold 2,604 shares of Huntington Bancshares stock in a transaction on Monday, July 29th. The shares were sold at an average price of $14.57, for a total value of $37,940.28. Following the completion of the transaction, the executive vice president now owns 80,103 shares of the company’s stock, valued at $1,167,100.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.22% of the stock is currently owned by insiders.
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 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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