13,971 Shares in Huntington Bancshares Incorporated (NASDAQ:HBAN) Purchased by Essex Savings Bank

Essex Savings Bank acquired a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 13,971 shares of the bank’s stock, valued at approximately $126,000.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Huntington Bancshares by 1.8% during the first quarter. BlackRock Inc. now owns 88,685,388 shares of the bank’s stock worth $728,107,000 after buying an additional 1,606,633 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Huntington Bancshares by 22.4% during the 1st quarter. JPMorgan Chase & Co. now owns 43,892,545 shares of the bank’s stock valued at $360,358,000 after acquiring an additional 8,020,890 shares during the period. Geode Capital Management LLC grew its position in shares of Huntington Bancshares by 2.5% during the 1st quarter. Geode Capital Management LLC now owns 17,630,203 shares of the bank’s stock valued at $144,469,000 after acquiring an additional 436,274 shares during the period. Prudential PLC grew its position in shares of Huntington Bancshares by 129.5% during the 1st quarter. Prudential PLC now owns 9,461,800 shares of the bank’s stock valued at $77,681,000 after acquiring an additional 5,338,247 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Huntington Bancshares by 1.7% during the 1st quarter. Legal & General Group Plc now owns 6,434,649 shares of the bank’s stock valued at $52,998,000 after acquiring an additional 108,816 shares during the period. Institutional investors own 73.91% of the company’s stock.

NASDAQ HBAN traded down $0.04 during trading hours on Friday, hitting $9.27. 14,092,175 shares of the company’s stock traded hands, compared to its average volume of 9,263,835. The business’s fifty day moving average price is $9.23 and its two-hundred day moving average price is $10.18. The company has a current ratio of 0.92, a quick ratio of 0.90 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $9.40 billion, a P/E ratio of 11.88, a P/E/G ratio of 3.18 and a beta of 1.53. Huntington Bancshares Incorporated has a 52 week low of $6.82 and a 52 week high of $15.63.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, July 23rd. The bank reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.09. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.15 billion. Huntington Bancshares had a net margin of 16.27% and a return on equity of 8.35%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 earnings per share. On average, sell-side analysts expect that Huntington Bancshares Incorporated will post 0.59 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 17th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.60 annualized dividend and a yield of 6.47%. Huntington Bancshares’s dividend payout ratio (DPR) is 47.24%.

In related news, EVP Paul G. Heller sold 46,726 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $9.10, for a total transaction of $425,206.60. Following the completion of the sale, the executive vice president now directly owns 532,943 shares in the company, valued at $4,849,781.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.70% of the company’s stock.

A number of research firms have recently weighed in on HBAN. Stephens raised shares of Huntington Bancshares from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $9.00 to $10.50 in a research report on Wednesday, June 3rd. Raymond James dropped their price target on shares of Huntington Bancshares from $11.50 to $10.00 and set an “outperform” rating on the stock in a research note on Monday, April 27th. Nomura restated a “hold” rating and set a $7.00 price target on shares of Huntington Bancshares in a research note on Sunday, April 26th. BMO Capital Markets upped their price target on shares of Huntington Bancshares from $9.00 to $10.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Finally, Royal Bank of Canada upped their price target on shares of Huntington Bancshares from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Thursday, June 11th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. Huntington Bancshares currently has an average rating of “Hold” and an average price target of $10.04.

Huntington Bancshares Profile

Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).

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Institutional Ownership by Quarter for Huntington Bancshares (NASDAQ:HBAN)

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