Huntington Bancshares Incorporated $HBAN Shares Acquired by QRG Capital Management Inc.

by · The Markets Daily

QRG Capital Management Inc. increased its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report) by 225.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 142,918 shares of the bank’s stock after purchasing an additional 99,009 shares during the quarter. QRG Capital Management Inc.’s holdings in Huntington Bancshares were worth $2,237,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of HBAN. Wellington Management Group LLP lifted its holdings in shares of Huntington Bancshares by 4,265.5% during the 4th quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock valued at $1,215,955,000 after acquiring an additional 68,478,435 shares in the last quarter. Norges Bank acquired a new stake in Huntington Bancshares in the 4th quarter valued at $432,584,000. Vanguard Group Inc. increased its holdings in Huntington Bancshares by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock valued at $3,319,385,000 after purchasing an additional 14,338,222 shares in the last quarter. Junto Capital Management LP purchased a new position in Huntington Bancshares in the third quarter valued at about $85,690,000. Finally, Marshall Wace LLP lifted its stake in shares of Huntington Bancshares by 2,458.7% during the fourth quarter. Marshall Wace LLP now owns 4,516,068 shares of the bank’s stock worth $78,354,000 after purchasing an additional 4,339,571 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Transactions at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $18.00, for a total value of $190,224.00. Following the completion of the transaction, the executive vice president directly owned 267,859 shares in the company, valued at approximately $4,821,462. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $17.35, for a total value of $3,878,106.70. Following the completion of the sale, the director directly owned 612,155 shares of the company’s stock, valued at approximately $10,620,889.25. This represents a 26.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders bought 33,500 shares of company stock worth $617,542. Company insiders own 0.67% of the company’s stock.

Huntington Bancshares Stock Up 0.9%

Shares of Huntington Bancshares stock traded up $0.15 on Tuesday, hitting $18.05. 2,183,464 shares of the company’s stock traded hands, compared to its average volume of 27,881,820. Huntington Bancshares Incorporated has a 52-week low of $14.89 and a 52-week high of $19.45. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. The stock has a market cap of $36.58 billion, a P/E ratio of 13.86, a PEG ratio of 0.81 and a beta of 0.93. The firm’s 50-day moving average is $16.62 and its 200 day moving average is $16.90.

Huntington Bancshares (NASDAQ:HBAN – Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.21. The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same quarter in the previous year, the firm earned $0.34 earnings per share. Equities analysts anticipate that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th were given a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.4%. Huntington Bancshares’s payout ratio is presently 47.69%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HBAN. Wall Street Zen raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Evercore reissued an “outperform” rating and set a $21.00 price target on shares of Huntington Bancshares in a research report on Monday. Morgan Stanley boosted their price target on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. UBS Group increased their price objective on shares of Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Stephens initiated coverage on shares of Huntington Bancshares in a research note on Monday, June 15th. They set an “equal weight” rating and a $19.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average target price of $20.25.

Check Out Our Latest Report on HBAN

Huntington Bancshares Profile

(Free Report)

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.

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