Riverhead Capital Management LLC increased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,400 shares of the bank’s stock after purchasing an additional 1,350 shares during the quarter. Riverhead Capital Management LLC’s holdings in Huntington Bancshares were worth $420,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of HBAN. Cornerstone Advisors Inc. lifted its position in Huntington Bancshares by 106.5% during the second quarter. Cornerstone Advisors Inc. now owns 2,305 shares of the bank’s stock worth $32,000 after purchasing an additional 1,189 shares during the period. Trustcore Financial Services LLC acquired a new position in Huntington Bancshares during the first quarter worth about $39,000. Bremer Bank National Association acquired a new position in Huntington Bancshares during the first quarter worth about $53,000. Icon Wealth Partners LLC acquired a new position in Huntington Bancshares during the first quarter worth about $57,000. Finally, AdvisorNet Financial Inc raised its stake in 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 acquiring an additional 980 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Nancy E. Maloney sold 2,604 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.22% of the company’s stock.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, July 25th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.01. Huntington Bancshares had a return on equity of 14.23% and a net margin of 25.77%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the firm posted $0.30 earnings per share. The firm’s revenue was up 5.9% compared to the same quarter last year. Equities analysts expect 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. Stockholders of record on Tuesday, September 17th will be paid a $0.15 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.08%. This is an increase from Huntington Bancshares’s previous quarterly dividend of $0.14. Huntington Bancshares’s dividend payout ratio is currently 46.67%.
Several brokerages have commented on HBAN. Nomura set a $14.00 target price on Huntington Bancshares and gave the stock a “hold” rating in a research note on Friday, July 26th. BidaskClub raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, September 2nd. Zacks Investment Research raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, May 21st. Argus began coverage on Huntington Bancshares in a research note on Friday, May 31st. They set a “hold” rating for the company. Finally, Raymond James set a $14.00 target price on Huntington Bancshares and gave the stock a “buy” rating in a research note on Thursday, August 29th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Huntington Bancshares currently has a consensus rating of “Hold” and a consensus price target of $15.43.
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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