Alps Advisors Inc. Cuts Stake in Huntington Bancshares Inc. (HBAN)
Alps Advisors Inc. reduced its stake in shares of Huntington Bancshares Inc. (NASDAQ:HBAN) by 4.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,011 shares of the company’s stock after selling 2,234 shares during the period. Alps Advisors Inc.’s holdings in Huntington Bancshares were worth $411,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Robecosam AG purchased a new stake in shares of Huntington Bancshares during the first quarter valued at approximately $125,000. Fulton Bank N.A. increased its stake in shares of Huntington Bancshares by 9.9% in the second quarter. Fulton Bank N.A. now owns 16,819 shares of the company’s stock valued at $150,000 after buying an additional 1,513 shares during the period. Prospera Financial Services Inc purchased a new stake in shares of Huntington Bancshares during the second quarter valued at approximately $198,000. Rehmann Capital Advisory Group increased its stake in shares of Huntington Bancshares by 0.4% in the second quarter. Rehmann Capital Advisory Group now owns 22,785 shares of the company’s stock valued at $204,000 after buying an additional 92 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in shares of Huntington Bancshares by 1.1% in the second quarter. Nisa Investment Advisors LLC now owns 30,908 shares of the company’s stock valued at $276,000 after buying an additional 350 shares during the period. Institutional investors and hedge funds own 75.73% of the company’s stock.
Shares of Huntington Bancshares Inc. (NASDAQ:HBAN) traded up 0.10% during mid-day trading on Friday, reaching $10.17. 8,896,507 shares of the company’s stock were exchanged. Huntington Bancshares Inc. has a 52-week low of $7.83 and a 52-week high of $11.87. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of 13.04 and a beta of 1.13. The stock’s 50-day moving average is $9.83 and its 200-day moving average is $9.68.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.02. Huntington Bancshares had a net margin of 20.85% and a return on equity of 11.07%. During the same quarter in the prior year, the business posted $0.23 earnings per share. On average, equities analysts expect that Huntington Bancshares Inc. will post $0.82 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 19th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Thursday, September 15th. Huntington Bancshares’s payout ratio is currently 35.90%.
Several brokerages recently commented on HBAN. FBR & Co upgraded shares of Huntington Bancshares from a “market perform” rating to an “outperform” rating and set a $11.00 price target for the company in a research report on Monday, July 11th. Zacks Investment Research upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, October 4th. JPMorgan Chase & Co. restated a “hold” rating and issued a $9.50 price target on shares of Huntington Bancshares in a research report on Friday, July 22nd. Jefferies Group reiterated a “buy” rating on shares of Huntington Bancshares in a research note on Thursday, August 4th. Finally, Credit Suisse Group AG reiterated a “hold” rating on shares of Huntington Bancshares in a research note on Tuesday, July 12th. Fourteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.12.
In other news, EVP David S. Anderson sold 9,006 shares of the business’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $9.82, for a total value of $88,438.92. Following the sale, the executive vice president now owns 110,233 shares of the company’s stock, valued at $1,082,488.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Nicholas G. Stanutz sold 35,350 shares of the business’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $9.64, for a total transaction of $340,774.00. Following the completion of the sale, the executive vice president now directly owns 434,650 shares in the company, valued at approximately $4,190,026. The disclosure for this sale can be found here. 1.65% of the stock is currently owned by company insiders.
Huntington Bancshares Company Profile
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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