Verity Asset Management Inc. Increases Holdings in Huntington Bancshares Incorporated (HBAN)

Verity Asset Management Inc. raised its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 60.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,544 shares of the bank’s stock after purchasing an additional 10,335 shares during the quarter. Verity Asset Management Inc.’s holdings in Huntington Bancshares were worth $411,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in HBAN. Columbia Asset Management bought a new position in Huntington Bancshares during the 3rd quarter worth $103,000. NuWave Investment Management LLC increased its position in shares of Huntington Bancshares by 5,991.8% in the third quarter. NuWave Investment Management LLC now owns 8,894 shares of the bank’s stock worth $133,000 after purchasing an additional 8,748 shares during the period. Dupont Capital Management Corp increased its position in shares of Huntington Bancshares by 79.3% in the second quarter. Dupont Capital Management Corp now owns 9,657 shares of the bank’s stock worth $143,000 after purchasing an additional 4,270 shares during the period. GAM Holding AG bought a new position in shares of Huntington Bancshares in the second quarter worth $154,000. Finally, Donaldson Capital Management LLC bought a new position in shares of Huntington Bancshares in the third quarter worth $172,000. 76.42% of the stock is owned by institutional investors and hedge funds.

In other Huntington Bancshares news, Director Richard W. Neu bought 6,750 shares of the firm’s stock in a transaction on Tuesday, October 30th. The shares were purchased at an average price of $13.88 per share, for a total transaction of $93,690.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Helga Houston sold 42,608 shares of Huntington Bancshares stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $14.66, for a total value of $624,633.28. The disclosure for this sale can be found here. Insiders own 1.05% of the company’s stock.

A number of research analysts recently commented on the company. BidaskClub cut Huntington Bancshares from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. Jefferies Financial Group raised their price target on Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Zacks Investment Research cut Huntington Bancshares from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Morgan Stanley restated a “hold” rating and issued a $17.50 price target (down previously from $17.75) on shares of Huntington Bancshares in a research report on Tuesday, September 18th. Finally, Vining Sparks restated a “buy” rating and issued a $19.00 price target on shares of Huntington Bancshares in a research report on Tuesday, October 9th. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $17.03.

Huntington Bancshares stock opened at $14.75 on Monday. Huntington Bancshares Incorporated has a 12-month low of $13.13 and a 12-month high of $16.60. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $15.36 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 0.82 and a beta of 1.26.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Tuesday, October 23rd. The bank reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.01. Huntington Bancshares had a return on equity of 13.73% and a net margin of 29.13%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the business posted $0.25 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Tuesday, December 18th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Monday, December 17th. Huntington Bancshares’s dividend payout ratio is presently 57.14%.

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

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