Profund Advisors LLC boosted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 32.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,171 shares of the bank’s stock after purchasing an additional 8,647 shares during the quarter. Profund Advisors LLC’s holdings in Huntington Bancshares were worth $486,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Cornerstone Advisors Inc. raised its position in shares of 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. Bremer Bank National Association bought a new stake in shares of Huntington Bancshares during the 1st quarter worth about $53,000. AdvisorNet Financial Inc lifted its position in shares of Huntington Bancshares by 28.5% during the 2nd quarter. AdvisorNet Financial Inc now owns 4,414 shares of the bank’s stock worth $61,000 after purchasing an additional 980 shares during the last quarter. Icon Wealth Partners LLC acquired a new position in shares of Huntington Bancshares during the 1st quarter worth about $57,000. Finally, Amica Retiree Medical Trust acquired a new position in shares of Huntington Bancshares during the 2nd quarter worth about $66,000. Institutional investors own 75.13% of the company’s stock.
HBAN has been the subject of several research analyst reports. BMO Capital Markets cut Huntington Bancshares from a “market perform” rating to an “underperform” rating and set a $14.00 price objective for the company. in a research report on Monday, July 8th. Macquarie cut Huntington Bancshares from a “neutral” rating to an “underperform” rating and set a $13.78 price target for the company. in a report on Friday, July 12th. Argus initiated coverage on Huntington Bancshares in a report on Friday, May 31st. They issued a “hold” rating for the company. Nomura set a $14.00 price target on Huntington Bancshares and gave the company a “hold” rating in a report on Friday, July 26th. Finally, BidaskClub raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Monday, September 2nd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $15.28.
Huntington Bancshares stock traded down $0.01 during trading hours on Thursday, hitting $14.58. The stock had a trading volume of 1,029,388 shares, compared to its average volume of 8,404,185. The company has a 50-day moving average of $13.34 and a two-hundred day moving average of $13.48. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.86. The company has a market cap of $15.17 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 1.60 and a beta of 1.44. Huntington Bancshares Incorporated has a fifty-two week low of $11.12 and a fifty-two week high of $16.06.
Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, July 25th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the prior year, the firm posted $0.30 EPS. Huntington Bancshares’s quarterly revenue was up 5.9% compared to the same quarter last year. As a group, analysts forecast that Huntington Bancshares Incorporated will post 1.3 EPS for the current fiscal year.
The business 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. The ex-dividend date is Monday, September 16th. 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 dividend yield of 4.12%. Huntington Bancshares’s dividend payout ratio is presently 50.00%.
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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