Traders Buy Shares of Huntington Bancshares Inc. (HBAN) on Weakness
Traders purchased shares of Huntington Bancshares Inc. (NASDAQ:HBAN) on weakness during trading on Tuesday. $197.86 million flowed into the stock on the tick-up and $22.23 million flowed out of the stock on the tick-down, for a money net flow of $175.63 million into the stock. Of all equities tracked, Huntington Bancshares had the highest net in-flow for the day. Huntington Bancshares traded down ($0.04) for the day and closed at $9.64
Several brokerages recently issued reports on HBAN. Sanford C. Bernstein lifted their price objective on Huntington Bancshares from $11.00 to $12.00 and gave the stock a “market perform” rating in a report on Thursday, April 21st. FBR & Co raised Huntington Bancshares from a “market perform” rating to an “outperform” rating and set a $11.00 price target for the company in a report on Monday, July 11th. JPMorgan Chase & Co. reissued a “hold” rating and issued a $9.50 price target on shares of Huntington Bancshares in a report on Friday, July 22nd. Zacks Investment Research raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th. Finally, Jefferies Group reissued a “buy” rating on shares of Huntington Bancshares in a report on Thursday, August 4th. Fifteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Huntington Bancshares presently has a consensus rating of “Hold” and an average price target of $11.08.
The firm has a 50 day moving average of $9.21 and a 200 day moving average of $9.47. The company has a market capitalization of $7.70 billion and a P/E ratio of 12.36.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.02. During the same period last year, the firm posted $0.23 earnings per share. On average, analysts expect that Huntington Bancshares Inc. will post $0.80 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 19th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.28 annualized dividend and a dividend yield of 2.90%.
In related news, EVP David S. Anderson sold 25,000 shares of the stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $10.36, for a total transaction of $259,000.00. Following the completion of the sale, the executive vice president now directly owns 115,783 shares in the company, valued at $1,199,511.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Daniel J. Neumeyer sold 9,662 shares of the stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $10.61, for a total value of $102,513.82. Following the sale, the executive vice president now owns 368,576 shares of the company’s stock, valued at $3,910,591.36. The disclosure for this sale can be found here.
Several hedge funds have recently made changes to their positions in HBAN. GSA Capital Partners LLP raised its stake in shares of Huntington Bancshares by 239.8% in the fourth quarter. GSA Capital Partners LLP now owns 91,096 shares of the company’s stock valued at $1,008,000 after buying an additional 64,291 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in shares of Huntington Bancshares by 4.4% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 106,615 shares of the company’s stock valued at $1,179,000 after buying an additional 4,471 shares in the last quarter. Suntrust Banks Inc. raised its stake in shares of Huntington Bancshares by 15.8% in the fourth quarter. Suntrust Banks Inc. now owns 124,933 shares of the company’s stock valued at $1,381,000 after buying an additional 17,027 shares in the last quarter. US Bancorp DE raised its stake in shares of Huntington Bancshares by 22.1% in the fourth quarter. US Bancorp DE now owns 143,864 shares of the company’s stock valued at $1,591,000 after buying an additional 26,060 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Huntington Bancshares by 7.2% in the fourth quarter. Advisors Asset Management Inc. now owns 187,340 shares of the company’s stock valued at $2,072,000 after buying an additional 12,502 shares in the last quarter.
Huntington Bancshares Incorporated is a diversified regional bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company is engaged in providing commercial, small business, consumer banking services, mortgage banking services, automobile financing, equipment leasing, investment management, trust services, brokerage services, customized insurance programs, and other financial products and services.
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