Teachers Retirement System of The State of Kentucky Acquires 35,500 Shares of Huntington Bancshares Incorporated $HBAN

Teachers Retirement System of The State of Kentucky grew its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 28.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 158,928 shares of the bank’s stock after purchasing an additional 35,500 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Huntington Bancshares were worth $2,487,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in HBAN. MV Capital Management Inc. acquired a new stake in Huntington Bancshares in the 4th quarter valued at $25,000. Palisade Asset Management LLC acquired a new position in shares of Huntington Bancshares during the 3rd quarter worth about $26,000. Centennial Bank AR bought a new position in shares of Huntington Bancshares in the 4th quarter valued at about $28,000. DV Equities LLC bought a new position in shares of Huntington Bancshares in the 4th quarter valued at about $38,000. Finally, Quest 10 Wealth Builders Inc. increased its position in shares of Huntington Bancshares by 403.1% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 2,611 shares of the bank’s stock valued at $45,000 after acquiring an additional 2,092 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Analysts Set New Price Targets

HBAN has been the topic of several analyst reports. JPMorgan Chase & Co. upped their target price on Huntington Bancshares from $18.50 to $19.50 and gave the stock an “overweight” rating in a report on Monday, July 6th. Royal Bank Of Canada boosted their price target on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Morgan Stanley upped their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Barclays downgraded Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Finally, The Goldman Sachs Group decreased their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.25.

Huntington Bancshares Trading Down 0.4%

Shares of NASDAQ:HBAN opened at $17.85 on Wednesday. Huntington Bancshares Incorporated has a 52-week low of $14.89 and a 52-week high of $19.45. The company has a market capitalization of $36.18 billion, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 0.81 and a beta of 0.93. The company has a 50-day simple moving average of $16.78 and a 200 day simple moving average of $16.90. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.21. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate 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 previous year, the business earned $0.34 earnings per share. Sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th were paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Wednesday, June 17th. Huntington Bancshares’s payout ratio is currently 47.69%.

Insider Buying and Selling

In related news, EVP Marcy C. Hingst sold 10,568 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $18.00, for a total value of $190,224.00. Following the sale, the executive vice president owned 267,859 shares in the company, valued at approximately $4,821,462. This represents a 3.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of Huntington Bancshares stock in a transaction 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 transaction, the director directly owned 612,155 shares of the company’s stock, valued at approximately $10,620,889.25. This trade represents a 26.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have purchased a total of 33,500 shares of company stock worth $617,542 over the last three months. 0.67% of the stock is owned by insiders.

Huntington Bancshares 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.