B. Riley Wealth Management Inc. purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,324 shares of the bank’s stock, valued at approximately $102,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Paradigm Asset Management Co. LLC purchased a new stake in Huntington Bancshares during the 2nd quarter worth about $47,000. Ameritas Investment Company LLC lifted its holdings in Huntington Bancshares by 72.2% during the 1st quarter. Ameritas Investment Company LLC now owns 5,498 shares of the bank’s stock worth $42,000 after buying an additional 2,305 shares during the last quarter. CSat Investment Advisory L.P. lifted its holdings in Huntington Bancshares by 38.0% during the 2nd quarter. CSat Investment Advisory L.P. now owns 6,474 shares of the bank’s stock worth $59,000 after buying an additional 1,784 shares during the last quarter. First Manhattan Co. lifted its holdings in Huntington Bancshares by 81.6% during the 1st quarter. First Manhattan Co. now owns 7,227 shares of the bank’s stock worth $59,000 after buying an additional 3,248 shares during the last quarter. Finally, Bartlett & Co. LLC purchased a new stake in Huntington Bancshares during the 1st quarter worth about $69,000. 71.45% of the stock is owned by institutional investors.
Shares of HBAN stock opened at $9.89 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.92 and a debt-to-equity ratio of 0.92. The stock’s 50-day moving average price is $9.60 and its 200 day moving average price is $9.15. Huntington Bancshares Incorporated has a 52-week low of $6.82 and a 52-week high of $15.63. The stock has a market capitalization of $10.06 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 3.34 and a beta of 1.49.
Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, July 23rd. The bank reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.09. Huntington Bancshares had a return on equity of 8.35% and a net margin of 16.27%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the firm posted $0.33 EPS. The firm’s quarterly revenue was down .4% on a year-over-year basis. Analysts expect that Huntington Bancshares Incorporated will post 0.59 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 17th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 6.07%. The ex-dividend date is Wednesday, September 16th. Huntington Bancshares’s payout ratio is 47.24%.
A number of brokerages have issued reports on HBAN. Raymond James reaffirmed a “buy” rating and set a $12.00 price target on shares of Huntington Bancshares in a report on Monday. Morgan Stanley boosted their target price on Huntington Bancshares from $10.50 to $11.00 and gave the company an “equal weight” rating in a report on Monday, June 8th. BidaskClub raised Huntington Bancshares from a “strong sell” rating to a “sell” rating in a report on Tuesday. BMO Capital Markets boosted their target price on Huntington Bancshares from $9.00 to $10.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Finally, Royal Bank of Canada boosted their target price on Huntington Bancshares from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Thursday, June 11th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $10.18.
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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