Interval Partners LP Makes New Investment in Huntington Bancshares Incorporated $HBAN

Interval Partners LP bought a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 4th quarter, HoldingsChannel.com reports. The fund bought 662,578 shares of the bank’s stock, valued at approximately $11,496,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Huntington Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock worth $3,319,385,000 after buying an additional 14,338,222 shares in the last quarter. State Street Corp boosted its holdings in Huntington Bancshares by 4.7% during the 4th quarter. State Street Corp now owns 77,228,656 shares of the bank’s stock valued at $1,351,806,000 after acquiring an additional 3,438,501 shares during the period. Boston Partners boosted its holdings in Huntington Bancshares by 3.9% during the 3rd quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock valued at $1,091,615,000 after acquiring an additional 2,363,905 shares during the period. Invesco Ltd. boosted its holdings in Huntington Bancshares by 1.5% during the 3rd quarter. Invesco Ltd. now owns 59,062,922 shares of the bank’s stock valued at $1,020,017,000 after acquiring an additional 861,263 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Huntington Bancshares by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 43,171,993 shares of the bank’s stock valued at $746,257,000 after acquiring an additional 3,074,673 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Buying and Selling

In other Huntington Bancshares news, Director James D. Rollins III sold 223,522 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the transaction, the director owned 612,155 shares of the company’s stock, valued at $10,620,889.25. This represents a 26.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last three months, insiders purchased 33,500 shares of company stock worth $617,542. Corporate insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

HBAN has been the subject of several analyst reports. Barclays cut Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Royal Bank Of Canada dropped their target price on Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. JPMorgan Chase & Co. dropped their target price on Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating for the company in a report on Thursday, April 30th. Wolfe Research dropped their target price on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Finally, Morgan Stanley dropped their target price on Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.05.

Huntington Bancshares Trading Down 2.7%

HBAN opened at $16.85 on Thursday. The business has a 50 day simple moving average of $16.37 and a two-hundred day simple moving average of $16.86. The firm has a market capitalization of $34.16 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 0.79 and a beta of 0.94. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. Huntington Bancshares Incorporated has a one year low of $14.89 and a one year high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same quarter in the prior year, the company posted $0.34 EPS. Analysts predict that Huntington Bancshares Incorporated will post 1.61 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.7%. Huntington Bancshares’s dividend payout ratio is presently 47.69%.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.