Summit Financial Strategies Inc. Has $138,000 Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)
Summit Financial Strategies Inc. decreased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.7% during the second quarter, Holdings Channel reports. The firm owned 10,192 shares of the bank’s stock after selling 74 shares during the period. Summit Financial Strategies Inc.’s holdings in Huntington Bancshares were worth $138,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of HBAN. City Holding Co. boosted its position in Huntington Bancshares by 17.5% in the first quarter. City Holding Co. now owns 8,057 shares of the bank’s stock worth $108,000 after buying an additional 1,200 shares during the period. Bronfman E.L. Rothschild L.P. boosted its position in Huntington Bancshares by 371.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 9,548 shares of the bank’s stock worth $128,000 after buying an additional 7,521 shares during the period. Moody Lynn & Lieberson LLC purchased a new position in Huntington Bancshares during the first quarter worth $134,000. Chicago Partners Investment Group LLC purchased a new position in Huntington Bancshares during the second quarter worth $134,000. Finally, YG Partners LLC purchased a new position in Huntington Bancshares during the first quarter worth $2,039,000. Institutional investors and hedge funds own 74.75% of the company’s stock.
Huntington Bancshares Incorporated (NASDAQ HBAN) opened at 13.17 on Thursday. Huntington Bancshares Incorporated has a one year low of $9.40 and a one year high of $14.74. The firm’s 50-day moving average is $13.37 and its 200 day moving average is $13.34. The company has a market capitalization of $14.36 billion, a PE ratio of 18.24 and a beta of 1.37.
Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Friday, July 21st. The bank reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.03. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Huntington Bancshares had a return on equity of 11.39% and a net margin of 18.41%. During the same period in the previous year, the company posted $0.19 EPS. On average, equities analysts expect that Huntington Bancshares Incorporated will post $0.91 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.43%. The ex-dividend date is Friday, September 15th. Huntington Bancshares’s dividend payout ratio is currently 46.38%.
Huntington Bancshares declared that its board has authorized a stock repurchase plan on Wednesday, June 28th that permits the company to repurchase $308.00 million in shares. This repurchase authorization permits the bank to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
A number of research firms have weighed in on HBAN. BidaskClub cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Keefe, Bruyette & Woods set a $14.00 price objective on shares of Huntington Bancshares and gave the company a “hold” rating in a research report on Saturday, June 24th. Royal Bank Of Canada reiterated a “buy” rating and set a $16.00 price objective on shares of Huntington Bancshares in a research report on Thursday, July 27th. BMO Capital Markets reiterated a “buy” rating and set a $16.00 price objective on shares of Huntington Bancshares in a research report on Friday, June 9th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $14.25 price objective (up previously from $13.75) on shares of Huntington Bancshares in a research report on Friday, July 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $14.90.
In other news, Director Richard W. Neu bought 2,450 shares of the company’s stock in a transaction on Friday, July 28th. The stock was bought at an average cost of $13.10 per share, with a total value of $32,095.00. Following the transaction, the director now directly owns 184,596 shares in the company, valued at approximately $2,418,207.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephen D. Steinour bought 50,000 shares of the company’s stock in a transaction on Thursday, May 18th. The stock was purchased at an average cost of $12.40 per share, with a total value of $620,000.00. Following the completion of the transaction, the chief executive officer now owns 3,891,831 shares in the company, valued at $48,258,704.40. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 67,940 shares of company stock valued at $852,226. 1.30% of the stock is currently owned by corporate insiders.
About Huntington Bancshares
Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.
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