Traynor Capital Management Inc. decreased its stake in shares of Huntington Bancshares Inc. (NASDAQ:HBAN) by 10.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,616 shares of the company’s stock after selling 1,651 shares during the period. Traynor Capital Management Inc.’s holdings in Huntington Bancshares were worth $124,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Huntington Bancshares during the fourth quarter worth $41,330,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Huntington Bancshares by 12.6% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 187,057 shares of the company’s stock worth $1,785,000 after buying an additional 20,879 shares during the last quarter. PGGM Investments increased its stake in Huntington Bancshares by 2.5% in the first quarter. PGGM Investments now owns 540,357 shares of the company’s stock worth $5,155,000 after buying an additional 13,131 shares during the last quarter. Glenmede Trust Co. NA increased its stake in Huntington Bancshares by 3.3% in the first quarter. Glenmede Trust Co. NA now owns 258,475 shares of the company’s stock worth $2,465,000 after buying an additional 8,215 shares during the last quarter. Finally, Aperio Group LLC increased its stake in Huntington Bancshares by 27.8% in the first quarter. Aperio Group LLC now owns 294,254 shares of the company’s stock worth $2,807,000 after buying an additional 63,976 shares during the last quarter. Hedge funds and other institutional investors own 75.73% of the company’s stock.
Huntington Bancshares Inc. (NASDAQ:HBAN) traded down 2.12% during mid-day trading on Thursday, hitting $9.71. 8,124,456 shares of the company were exchanged. Huntington Bancshares Inc. has a 12-month low of $7.83 and a 12-month high of $11.87. The company has a market capitalization of $7.76 billion, a P/E ratio of 12.45 and a beta of 1.07. The company’s 50-day moving average is $9.75 and its 200 day moving average is $9.67.
Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, July 21st. The company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.02. Huntington Bancshares had a return on equity of 11.07% and a net margin of 20.85%. During the same quarter in the prior year, the business posted $0.23 EPS. Analysts expect that Huntington Bancshares Inc. will post $0.82 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 19th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Thursday, September 15th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 35.90%.
A number of research firms have weighed in on HBAN. FBR & Co raised Huntington Bancshares from a “market perform” rating to an “outperform” rating and set a $11.00 price objective on the stock in a report on Monday, July 11th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $9.50 price objective on shares of Huntington Bancshares in a report on Friday, July 22nd. Zacks Investment Research raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th. Jefferies Group reaffirmed a “buy” rating on shares of Huntington Bancshares in a report on Thursday, August 4th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating on shares of Huntington Bancshares in a report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Huntington Bancshares has an average rating of “Hold” and a consensus price target of $11.08.
In related news, EVP David S. Anderson sold 9,006 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $9.82, for a total transaction of $88,438.92. Following the sale, the executive vice president now owns 110,233 shares of the company’s stock, valued at approximately $1,082,488.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nicholas G. Stanutz sold 35,350 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $9.64, for a total transaction of $340,774.00. Following the sale, the executive vice president now directly owns 434,650 shares in the company, valued at approximately $4,190,026. The disclosure for this sale can be found here. Corporate insiders own 1.65% of the company’s stock.
About Huntington Bancshares
Huntington Bancshares Incorporated is a diversified regional bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company is engaged in providing commercial, small business, consumer banking services, mortgage banking services, automobile financing, equipment leasing, investment management, trust services, brokerage services, customized insurance programs, and other financial products and services.
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