MQS Management LLC Acquires New Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

MQS Management LLC bought a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 15,007 shares of the bank’s stock, valued at approximately $198,000.

Several other hedge funds also recently bought and sold shares of HBAN. Lazard Asset Management LLC boosted its position in shares of Huntington Bancshares by 251,152.2% during the 1st quarter. Lazard Asset Management LLC now owns 173,364 shares of the bank’s stock worth $2,417,000 after purchasing an additional 173,295 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in Huntington Bancshares by 53.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 1,617,730 shares of the bank’s stock worth $22,577,000 after purchasing an additional 564,729 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Huntington Bancshares by 8.6% during the first quarter. Massmutual Trust Co. FSB ADV now owns 136,961 shares of the bank’s stock worth $1,911,000 after buying an additional 10,795 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Huntington Bancshares by 39.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock valued at $83,124,000 after buying an additional 1,838,019 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of Huntington Bancshares by 715.0% in the 4th quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock valued at $54,081,000 after buying an additional 3,729,974 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Activity

In other news, VP Nancy E. Maloney sold 57,537 shares of Huntington Bancshares stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total value of $871,685.55. Following the transaction, the vice president now directly owns 69,595 shares of the company’s stock, valued at approximately $1,054,364.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Kendall A. Kowalski sold 5,747 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total transaction of $86,090.06. Following the completion of the sale, the insider now owns 65,899 shares in the company, valued at $987,167.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total value of $871,685.55. Following the completion of the transaction, the vice president now owns 69,595 shares in the company, valued at approximately $1,054,364.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,622 shares of company stock valued at $1,762,904. 0.89% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on HBAN shares. Argus raised their target price on Huntington Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Baird R W cut shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. JPMorgan Chase & Co. cut their target price on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Robert W. Baird cut shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price target for the company. in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods cut their price objective on Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.59.

Huntington Bancshares Trading Down 0.7 %

NASDAQ HBAN opened at $14.86 on Friday. The firm’s fifty day moving average price is $14.36 and its 200 day moving average price is $13.74. Huntington Bancshares Incorporated has a 12 month low of $9.25 and a 12 month high of $15.24. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. The company has a market capitalization of $21.54 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 2.90 and a beta of 1.05.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.02. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the company posted $0.35 earnings per share. On average, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.19 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend is Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio is currently 55.86%.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.