Westpac Banking Corp Maintains Holdings in Huntington Bancshares Incorporated (HBAN)
Westpac Banking Corp held its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,514 shares of the bank’s stock at the close of the second quarter. Westpac Banking Corp’s holdings in Huntington Bancshares were worth $886,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Huntington Bancshares by 371.0% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 9,548 shares of the bank’s stock valued at $128,000 after purchasing an additional 7,521 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of Huntington Bancshares during the second quarter valued at approximately $134,000. YG Partners LLC bought a new position in shares of Huntington Bancshares during the first quarter valued at approximately $2,039,000. Foster & Motley Inc. boosted its stake in shares of Huntington Bancshares by 2.2% during the second quarter. Foster & Motley Inc. now owns 10,504 shares of the bank’s stock valued at $142,000 after purchasing an additional 224 shares in the last quarter. Finally, Hartland & Co. LLC bought a new position in shares of Huntington Bancshares during the first quarter valued at approximately $141,000. Hedge funds and other institutional investors own 74.16% of the company’s stock.
Huntington Bancshares Incorporated (HBAN) opened at 12.32 on Monday. The firm has a 50 day moving average of $12.89 and a 200-day moving average of $13.18. Huntington Bancshares Incorporated has a 12-month low of $9.52 and a 12-month high of $14.74. The stock has a market cap of $13.43 billion, a PE ratio of 17.06 and a beta of 1.37.
Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, July 21st. The bank reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.03. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the business posted $0.19 EPS. On average, analysts expect that Huntington Bancshares Incorporated will post $0.92 earnings per share for the current year.
Huntington Bancshares declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $308.00 million in shares. This repurchase authorization authorizes the bank to buy up to 2.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 18th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Friday, September 15th. Huntington Bancshares’s payout ratio is 46.38%.
A number of equities analysts have recently issued reports on HBAN shares. BMO Capital Markets reiterated an “outperform” rating and set a $15.00 price objective (down from $16.00) on shares of Huntington Bancshares in a research note on Friday, July 21st. Deutsche Bank AG reiterated a “buy” rating on shares of Huntington Bancshares in a research note on Monday, July 3rd. Instinet reiterated a “buy” rating and set a $16.00 price objective (up from $15.00) on shares of Huntington Bancshares in a research note on Wednesday, July 12th. BidaskClub downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, Hilliard Lyons upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their price objective for the company from $14.00 to $15.00 in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $14.96.
In other news, EVP Nicholas G. Stanutz sold 16,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $12.71, for a total value of $203,360.00. Following the completion of the transaction, the executive vice president now owns 447,722 shares in the company, valued at approximately $5,690,546.62. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard W. Neu bought 2,450 shares of the stock in a transaction dated Friday, July 28th. The stock was bought at an average price of $13.10 per share, with a total value of $32,095.00. Following the acquisition, the director now owns 184,596 shares in the company, valued at approximately $2,418,207.60. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company’s stock.
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Huntington Bancshares Company Profile
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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