Meeder Asset Management Inc. lifted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 89.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,136 shares of the bank’s stock after buying an additional 23,704 shares during the quarter. Meeder Asset Management Inc.’s holdings in Huntington Bancshares were worth $692,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in Huntington Bancshares by 17.5% in the first quarter. BlackRock Inc. now owns 86,682,134 shares of the bank’s stock valued at $1,099,129,000 after purchasing an additional 12,896,475 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Huntington Bancshares by 20.6% in the first quarter. JPMorgan Chase & Co. now owns 37,418,779 shares of the bank’s stock valued at $474,471,000 after purchasing an additional 6,400,061 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Huntington Bancshares by 1.5% in the first quarter. The Manufacturers Life Insurance Company now owns 15,059,755 shares of the bank’s stock valued at $190,959,000 after purchasing an additional 221,076 shares in the last quarter. Geode Capital Management LLC raised its stake in Huntington Bancshares by 5.1% in the fourth quarter. Geode Capital Management LLC now owns 14,526,595 shares of the bank’s stock valued at $172,863,000 after purchasing an additional 709,854 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Huntington Bancshares by 13.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 14,117,471 shares of the bank’s stock valued at $168,284,000 after purchasing an additional 1,714,381 shares in the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ HBAN opened at $13.07 on Thursday. Huntington Bancshares Incorporated has a one year low of $11.12 and a one year high of $16.52. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.90 and a quick ratio of 0.90. The firm’s 50 day simple moving average is $13.57 and its two-hundred day simple moving average is $13.53. The stock has a market capitalization of $13.60 billion, a P/E ratio of 10.89, a PEG ratio of 1.43 and a beta of 1.40.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders 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 annualized dividend and a dividend yield of 4.59%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 46.67%.
In other news, EVP Nancy E. Maloney sold 2,604 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 80,103 shares in the company, valued at $1,167,100.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.22% of the stock is currently owned by company insiders.
HBAN has been the topic of a number of recent research reports. ValuEngine cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. BMO Capital Markets cut shares of Huntington Bancshares from a “market perform” rating to an “underperform” rating and set a $14.00 price target on the stock. 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. Argus initiated coverage on shares of Huntington Bancshares in a research report on Friday, May 31st. They set a “hold” rating on the stock. Finally, BidaskClub cut shares of Huntington Bancshares from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $15.63.
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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