Teachers Retirement System of The State of Kentucky Purchases 35,500 Shares of Huntington Bancshares Incorporated $HBAN

Teachers Retirement System of The State of Kentucky grew its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 28.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 158,928 shares of the bank’s stock after purchasing an additional 35,500 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Huntington Bancshares were worth $2,487,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Procyon Advisors LLC bought a new position in Huntington Bancshares during the 1st quarter worth $363,000. International Assets Investment Management LLC lifted its holdings in shares of Huntington Bancshares by 991.7% during the first quarter. International Assets Investment Management LLC now owns 67,588 shares of the bank’s stock worth $1,073,000 after buying an additional 61,397 shares in the last quarter. Valmark Advisers Inc. boosted its position in shares of Huntington Bancshares by 4.6% in the first quarter. Valmark Advisers Inc. now owns 52,641 shares of the bank’s stock valued at $824,000 after acquiring an additional 2,300 shares during the period. Carnegie Investment Counsel boosted its position in shares of Huntington Bancshares by 5.9% in the first quarter. Carnegie Investment Counsel now owns 580,541 shares of the bank’s stock valued at $9,085,000 after acquiring an additional 32,442 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Huntington Bancshares by 32.9% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 472,825 shares of the bank’s stock valued at $7,400,000 after acquiring an additional 117,127 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

HBAN has been the topic of a number of recent research reports. Royal Bank Of Canada raised their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Wolfe Research cut their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. JPMorgan Chase & Co. increased their target price on shares of Huntington Bancshares from $18.50 to $19.50 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Weiss Ratings raised shares of Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, July 6th. Finally, Barclays downgraded shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and an average price target of $20.25.

Huntington Bancshares Trading Down 0.4%

Shares of Huntington Bancshares stock opened at $17.85 on Wednesday. The company has a market capitalization of $36.18 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 0.81 and a beta of 0.93. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. Huntington Bancshares Incorporated has a 12-month low of $14.89 and a 12-month high of $19.45. The firm’s 50-day moving average price is $16.78 and its two-hundred day moving average price is $16.90.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same period in the previous year, the company earned $0.34 EPS. On average, analysts forecast that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th were paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is 47.69%.

Insider Activity at Huntington Bancshares

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

Huntington Bancshares Company Profile

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.