Rehmann Capital Advisory Group Increases Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Rehmann Capital Advisory Group grew its stake in Huntington Bancshares Incorporated (NASDAQ:HBANFree Report) by 36.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 14,740 shares of the bank’s stock after buying an additional 3,964 shares during the period. Rehmann Capital Advisory Group’s holdings in Huntington Bancshares were worth $206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in HBAN. Vanguard Group Inc. raised its position in Huntington Bancshares by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 172,069,244 shares of the bank’s stock worth $1,789,520,000 after buying an additional 1,209,264 shares during the last quarter. Boston Partners raised its holdings in shares of Huntington Bancshares by 59.3% during the fourth quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock worth $593,408,000 after purchasing an additional 17,365,446 shares during the last quarter. Norges Bank purchased a new stake in Huntington Bancshares in the fourth quarter valued at $206,703,000. Dimensional Fund Advisors LP grew its position in Huntington Bancshares by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 15,130,774 shares of the bank’s stock worth $192,473,000 after purchasing an additional 765,070 shares during the period. Finally, Raymond James & Associates raised its stake in shares of Huntington Bancshares by 3.1% during the 1st quarter. Raymond James & Associates now owns 7,403,303 shares of the bank’s stock valued at $103,276,000 after buying an additional 225,911 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, VP Brantley J. Standridge sold 50,000 shares of Huntington Bancshares stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total transaction of $680,000.00. Following the sale, the vice president now owns 385,409 shares of the company’s stock, valued at approximately $5,241,562.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Kendall A. Kowalski sold 15,948 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $13.47, for a total value of $214,819.56. Following the completion of the sale, the insider now owns 21,102 shares of the company’s stock, valued at $284,243.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Brantley J. Standridge sold 50,000 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total value of $680,000.00. Following the transaction, the vice president now owns 385,409 shares in the company, valued at approximately $5,241,562.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 157,829 shares of company stock valued at $2,148,623. 0.92% of the stock is owned by insiders.

Wall Street Analyst Weigh In

HBAN has been the topic of a number of recent research reports. Royal Bank of Canada restated an “outperform” rating and issued a $16.00 target price on shares of Huntington Bancshares in a research note on Tuesday, June 11th. StockNews.com lowered Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, June 19th. Stephens reaffirmed an “equal weight” rating and set a $15.00 price objective on shares of Huntington Bancshares in a research note on Monday, April 22nd. Evercore ISI decreased their target price on shares of Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.93.

Read Our Latest Stock Report on HBAN

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN traded up $0.10 during trading on Wednesday, hitting $13.07. The company had a trading volume of 26,087,717 shares, compared to its average volume of 17,206,555. The firm has a market capitalization of $18.94 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 2.48 and a beta of 1.06. The stock has a fifty day simple moving average of $13.34 and a two-hundred day simple moving average of $13.17. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88. Huntington Bancshares Incorporated has a fifty-two week low of $9.25 and a fifty-two week high of $14.30.

Huntington Bancshares (NASDAQ:HBANGet Free Report) last posted its quarterly earnings data on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the previous year, the firm posted $0.38 EPS. On average, research analysts expect that Huntington Bancshares Incorporated will post 1.17 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 17th were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend was Monday, June 17th. Huntington Bancshares’s payout ratio is 55.86%.

Huntington Bancshares Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding HBAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Huntington Bancshares Incorporated (NASDAQ:HBANFree Report).

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

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