NorthRock Partners LLC Acquires 3,704 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

NorthRock Partners LLC increased its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 26.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,674 shares of the bank’s stock after acquiring an additional 3,704 shares during the period. NorthRock Partners LLC’s holdings in Huntington Bancshares were worth $247,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in HBAN. Boston Partners increased its holdings in Huntington Bancshares by 59.3% during the fourth quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock valued at $593,408,000 after buying an additional 17,365,446 shares during the last quarter. Norges Bank bought a new position in shares of Huntington Bancshares in the fourth quarter worth approximately $206,703,000. KBC Group NV boosted its position in shares of Huntington Bancshares by 715.0% in the fourth quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock worth $54,081,000 after purchasing an additional 3,729,974 shares during the period. Bank of Nova Scotia boosted its position in shares of 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 purchasing an additional 2,401,067 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position 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 worth $83,124,000 after purchasing an additional 1,838,019 shares during the period. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

Shares of HBAN stock traded up $0.19 during trading hours on Monday, hitting $13.73. 15,560,897 shares of the company’s stock were exchanged, compared to its average volume of 17,294,852. The firm has a 50 day moving average of $13.32 and a two-hundred day moving average of $13.19. Huntington Bancshares Incorporated has a fifty-two week low of $9.25 and a fifty-two week high of $14.30. The firm has a market cap of $19.90 billion, a P/E ratio of 12.37, a P/E/G ratio of 5.37 and a beta of 1.06. 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 (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the company posted $0.38 EPS. Sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.17 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 17th were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.52%. Huntington Bancshares’s payout ratio is 55.86%.

Insider Activity

In other news, VP Brantley J. Standridge sold 50,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total transaction of $680,000.00. Following the transaction, 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 this hyperlink. In other Huntington Bancshares news, insider Helga Houston sold 7,278 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $13.64, for a total transaction of $99,271.92. Following the sale, the insider now directly owns 648,904 shares in the company, valued at $8,851,050.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brantley J. Standridge sold 50,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was 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 in the company, valued at $5,241,562.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 157,829 shares of company stock valued at $2,148,623. 0.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HBAN. Morgan Stanley dropped their target price on shares of Huntington Bancshares from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, June 12th. JPMorgan Chase & Co. cut their target price on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a research report on Thursday, June 27th. Keefe, Bruyette & Woods lowered their price target on Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Jefferies Financial Group reduced their target price on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Finally, UBS Group dropped their price target on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, June 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $14.93.

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.