Point72 DIFC Ltd Buys Shares of 243,037 Huntington Bancshares Incorporated (NASDAQ:HBAN)

Point72 DIFC Ltd acquired a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 243,037 shares of the bank’s stock, valued at approximately $3,203,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Boston Partners grew its stake in shares of Huntington Bancshares by 20.4% in the first quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock worth $783,215,000 after purchasing an additional 9,533,511 shares in the last quarter. KBC Group NV lifted its stake 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 worth $54,081,000 after acquiring an additional 3,729,974 shares during the period. National Bank of Canada FI raised its holdings in Huntington Bancshares by 832.7% during the first quarter. National Bank of Canada FI now owns 3,337,625 shares of the bank’s stock worth $46,927,000 after purchasing an additional 2,979,768 shares in the last quarter. Scout Investments Inc. acquired a new position in Huntington Bancshares during the first quarter worth about $35,428,000. Finally, Bank of Nova Scotia raised its position in Huntington Bancshares by 641.5% in the fourth quarter. Bank of Nova Scotia now owns 2,775,356 shares of the bank’s stock worth $35,301,000 after acquiring an additional 2,401,067 shares in the last quarter. 80.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on HBAN shares. UBS Group lowered their price objective on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, June 13th. Jefferies Financial Group dropped their price target on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Morgan Stanley lifted their price target on Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Baird R W lowered shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada lifted their target price on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.59.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $14.60 on Tuesday. The firm has a market cap of $21.16 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 2.90 and a beta of 1.05. The stock’s 50-day moving average is $14.38 and its two-hundred day moving average is $13.75. Huntington Bancshares Incorporated has a fifty-two week low of $9.25 and a fifty-two week 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.

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

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend is Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Insiders Place Their Bets

In related news, CFO Zachary Jacob Wasserman sold 33,000 shares of Huntington Bancshares stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the sale, the chief financial officer now directly owns 265,809 shares of the company’s stock, valued at $4,021,690.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Zachary Jacob Wasserman sold 33,000 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the transaction, the chief financial officer now owns 265,809 shares of the company’s stock, valued at $4,021,690.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Nancy E. Maloney sold 57,537 shares of Huntington Bancshares stock in a transaction that occurred 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 sale, the vice president now directly owns 69,595 shares in the company, valued at $1,054,364.25. The disclosure for this sale can be found here. Insiders have sold 116,622 shares of company stock worth $1,762,904 in the last ninety days. Insiders own 0.89% of the company’s stock.

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.