Assetmark Inc. boosted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report) by 82.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,676 shares of the bank’s stock after purchasing an additional 26,038 shares during the period. Assetmark Inc.’s holdings in Huntington Bancshares were worth $646,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Archer Investment Corp acquired a new stake in Huntington Bancshares in the 4th quarter valued at $27,000. Arcadia Investment Management Corp MI acquired a new stake in Huntington Bancshares in the 1st quarter valued at $25,000. Aspire Private Capital LLC acquired a new stake in Huntington Bancshares in the 1st quarter valued at $28,631,635,000. Coppell Advisory Solutions Corp. acquired a new stake in Huntington Bancshares in the 4th quarter valued at $46,000. Finally, Lindbrook Capital LLC increased its holdings in Huntington Bancshares by 167.9% in the 1st quarter. Lindbrook Capital LLC now owns 3,357 shares of the bank’s stock valued at $38,000 after purchasing an additional 2,104 shares in the last quarter. 78.75% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Huntington Bancshares
In other Huntington Bancshares news, insider Helga Houston sold 12,280 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $11.97, for a total value of $146,991.60. Following the sale, the insider now owns 594,564 shares in the company, valued at $7,116,931.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Huntington Bancshares news, insider Helga Houston sold 12,280 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $11.97, for a total value of $146,991.60. Following the sale, the insider now owns 594,564 shares in the company, valued at $7,116,931.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul G. Heller sold 23,817 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $11.89, for a total transaction of $283,184.13. Following the completion of the sale, the executive vice president now owns 505,910 shares in the company, valued at approximately $6,015,269.90. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.
Huntington Bancshares Stock Performance
Huntington Bancshares (NASDAQ:HBAN – Get Free Report) last issued its earnings results on Friday, July 21st. The bank reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Huntington Bancshares had a net margin of 24.74% and a return on equity of 15.20%. The firm had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the company posted $0.36 earnings per share. As a group, sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.38 earnings per share for the current year.
Huntington Bancshares Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be paid a $0.155 dividend. The ex-dividend date is Friday, September 15th. This represents a $0.62 annualized dividend and a dividend yield of 5.17%. Huntington Bancshares’s payout ratio is currently 40.00%.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on HBAN shares. StockNews.com began coverage on Huntington Bancshares in a report on Thursday, May 18th. They issued a “sell” rating for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $14.00 price objective on shares of Huntington Bancshares in a research report on Monday, July 24th. Wedbush reissued a “neutral” rating and issued a $12.00 price objective on shares of Huntington Bancshares in a research report on Friday, April 21st. Barclays decreased their price objective on shares of Huntington Bancshares from $14.00 to $13.00 in a research report on Tuesday, June 27th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $12.00 price objective on shares of Huntington Bancshares in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $13.31.
Check Out Our Latest Analysis on Huntington Bancshares
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 operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).
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