Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Acquired by Palouse Capital Management Inc.

Palouse Capital Management Inc. grew its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 12.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 309,624 shares of the bank’s stock after acquiring an additional 33,496 shares during the period. Huntington Bancshares comprises approximately 2.8% of Palouse Capital Management Inc.’s holdings, making the stock its 8th biggest position. Palouse Capital Management Inc.’s holdings in Huntington Bancshares were worth $3,938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings 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 acquiring an additional 1,209,264 shares in the last quarter. BlackRock Inc. grew its holdings in Huntington Bancshares by 0.5% during the 1st quarter. BlackRock Inc. now owns 137,586,195 shares of the bank’s stock worth $1,540,965,000 after acquiring an additional 652,310 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Huntington Bancshares by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 45,744,281 shares of the bank’s stock worth $468,725,000 after acquiring an additional 245,025 shares in the last quarter. Geode Capital Management LLC grew its holdings in Huntington Bancshares by 5.0% during the 1st quarter. Geode Capital Management LLC now owns 31,820,975 shares of the bank’s stock worth $355,630,000 after acquiring an additional 1,516,892 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Huntington Bancshares by 0.7% during the 1st quarter. JPMorgan Chase & Co. now owns 31,327,949 shares of the bank’s stock worth $350,873,000 after acquiring an additional 232,098 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Huntington Bancshares Trading Up 0.8 %

Shares of Huntington Bancshares stock traded up $0.10 during trading on Friday, hitting $13.28. The stock had a trading volume of 39,981,445 shares, compared to its average volume of 17,831,621. The stock has a 50 day simple moving average of $13.27 and a 200 day simple moving average of $12.13. The company has a market capitalization of $19.26 billion, a PE ratio of 10.71, a P/E/G ratio of 2.44 and a beta of 1.11. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.73. Huntington Bancshares Incorporated has a 1 year low of $9.13 and a 1 year high of $14.07.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Friday, January 19th. The bank reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.15. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Huntington Bancshares had a net margin of 18.00% and a return on equity of 12.96%. During the same period last year, the firm posted $0.43 earnings per share. On average, research analysts expect that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.67%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 50.00%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on HBAN shares. DA Davidson upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price target for the stock from $14.00 to $15.50 in a research report on Tuesday, February 27th. Citigroup raised their price target on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Morgan Stanley raised their price target on shares of Huntington Bancshares from $13.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Bank of America upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price target for the stock from $14.00 to $16.00 in a research report on Monday, April 8th. Finally, Barclays upgraded shares of Huntington Bancshares from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $12.00 to $15.00 in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.97.

Insider Transactions at Huntington Bancshares

In related news, Director Ann B. Crane sold 58,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $13.54, for a total transaction of $785,320.00. Following the completion of the sale, the director now directly owns 192,247 shares in the company, valued at $2,603,024.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Ann B. Crane sold 58,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $13.54, for a total transaction of $785,320.00. Following the completion of the sale, the director now directly owns 192,247 shares in the company, valued at $2,603,024.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Julie C. Tutkovics sold 15,541 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total transaction of $197,059.88. Following the completion of the sale, the vice president now owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The disclosure for this sale can be found here. Insiders have sold a total of 102,241 shares of company stock valued at $1,360,359 over the last ninety days. Corporate insiders own 0.89% of the company’s stock.

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.