Wealthfront Inc. Has $573,000 Stake in Huntington Bancshares Incorporated (HBAN)
Wealthfront Inc. raised its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 106.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,359 shares of the bank’s stock after buying an additional 21,890 shares during the period. Wealthfront Inc.’s holdings in Huntington Bancshares were worth $573,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. Lincoln National Corp raised its stake in Huntington Bancshares by 0.6% in the second quarter. Lincoln National Corp now owns 14,350 shares of the bank’s stock valued at $194,000 after buying an additional 84 shares in the last quarter. Formidable Asset Management LLC raised its stake in Huntington Bancshares by 0.6% in the first quarter. Formidable Asset Management LLC now owns 16,520 shares of the bank’s stock valued at $216,000 after buying an additional 100 shares in the last quarter. Cleararc Capital Inc. raised its stake in Huntington Bancshares by 0.7% in the first quarter. Cleararc Capital Inc. now owns 26,527 shares of the bank’s stock valued at $355,000 after buying an additional 176 shares in the last quarter. Janney Capital Management LLC raised its stake in Huntington Bancshares by 0.6% in the second quarter. Janney Capital Management LLC now owns 29,185 shares of the bank’s stock valued at $394,000 after buying an additional 179 shares in the last quarter. Finally, North Star Asset Management Inc. raised its stake in Huntington Bancshares by 1.6% in the first quarter. North Star Asset Management Inc. now owns 12,656 shares of the bank’s stock valued at $169,000 after buying an additional 200 shares in the last quarter. Institutional investors own 74.14% of the company’s stock.
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A number of research firms have weighed in on HBAN. BidaskClub upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Deutsche Bank AG restated a “buy” rating on shares of Huntington Bancshares in a research note on Monday, July 3rd. Instinet restated a “buy” rating and issued a $16.00 price target (up from $15.00) on shares of Huntington Bancshares in a research note on Wednesday, July 12th. Morgan Stanley restated an “equal weight” rating and issued a $14.25 price target (up from $13.75) on shares of Huntington Bancshares in a research note on Friday, July 7th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $16.00 price target on shares of Huntington Bancshares in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. Huntington Bancshares has a consensus rating of “Buy” and a consensus price target of $15.01.
Huntington Bancshares Incorporated (NASDAQ HBAN) traded down 0.7455% during trading on Friday, hitting $13.3001. The company had a trading volume of 2,255,681 shares. Huntington Bancshares Incorporated has a 12 month low of $9.52 and a 12 month high of $14.74. The company has a market cap of $14.50 billion, a PE ratio of 18.4212 and a beta of 1.37. The company’s 50 day moving average price is $12.83 and its 200-day moving average price is $13.10.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, July 21st. The bank reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.03. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. During the same quarter in the prior year, the business earned $0.19 earnings per share. Equities analysts expect that Huntington Bancshares Incorporated will post $0.92 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 18th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.32 annualized dividend and a yield of 2.39%. Huntington Bancshares’s dividend payout ratio (DPR) is 46.38%.
Huntington Bancshares announced that its board has authorized a stock repurchase program on Wednesday, June 28th that allows the company to buyback $308.00 million in outstanding shares. This buyback authorization allows the bank to buy up to 2.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
In other Huntington Bancshares news, Director Richard W. Neu acquired 2,450 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The shares were purchased at an average price of $13.10 per share, for a total transaction of $32,095.00. Following the completion of the purchase, the director now directly owns 184,596 shares in the company, valued at $2,418,207.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nicholas G. Stanutz sold 16,000 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $12.71, for a total transaction of $203,360.00. Following the sale, the executive vice president now owns 447,722 shares in the company, valued at approximately $5,690,546.62. The disclosure for this sale can be found here. 1.30% of the stock is 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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