Choreo LLC Buys Shares of 32,547 Huntington Bancshares Incorporated (NASDAQ:HBAN)

Choreo LLC bought a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 32,547 shares of the bank’s stock, valued at approximately $428,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Huntington Bancshares during the 4th quarter valued at $206,703,000. Boston Partners grew its position in shares of Huntington Bancshares by 20.4% during the 1st quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock valued at $783,215,000 after acquiring an additional 9,533,511 shares during the period. KBC Group NV grew its position in shares of Huntington Bancshares by 715.0% during the 4th quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock valued at $54,081,000 after acquiring an additional 3,729,974 shares during the period. National Bank of Canada FI grew its position in shares of Huntington Bancshares by 832.7% during the 1st quarter. National Bank of Canada FI now owns 3,337,625 shares of the bank’s stock valued at $46,927,000 after acquiring an additional 2,979,768 shares during the period. Finally, Scout Investments Inc. bought a new position in Huntington Bancshares in the 1st quarter worth $35,428,000. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Nancy E. Maloney sold 57,537 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total transaction of $871,685.55. Following the completion of the sale, 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 available through this hyperlink. In related news, VP Brendan A. Lawlor sold 9,050 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $15.06, for a total transaction of $136,293.00. Following the completion of the sale, the vice president now directly owns 11,111 shares of the company’s stock, valued at approximately $167,331.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Nancy E. Maloney sold 57,537 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was 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 of the company’s stock, valued at $1,054,364.25. The disclosure for this sale can be found here. Insiders sold 116,622 shares of company stock valued at $1,762,904 in the last ninety days. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Price Performance

NASDAQ:HBAN opened at $14.64 on Tuesday. The firm has a market capitalization of $21.22 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 2.90 and a beta of 1.05. Huntington Bancshares Incorporated has a 1 year low of $9.25 and a 1 year high of $15.24. The business has a 50 day simple moving average of $14.25 and a 200-day simple moving average of $13.70. 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 quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.02. The business 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 last year, the company earned $0.35 EPS. Equities analysts forecast that Huntington Bancshares Incorporated will post 1.19 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend is Tuesday, September 17th. Huntington Bancshares’s payout ratio is 55.86%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HBAN. JPMorgan Chase & Co. dropped their target price on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a report on Thursday, June 27th. Morgan Stanley upped their target price on shares of Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Robert W. Baird downgraded shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 target price for the company. in a report on Friday, July 26th. Jefferies Financial Group dropped their target price on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada upped their target price on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.59.

Huntington Bancshares Company Profile

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.