Macquarie Group Ltd. boosted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 18.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 847,190 shares of the bank’s stock after purchasing an additional 133,654 shares during the period. Macquarie Group Ltd. owned approximately 0.08% of Huntington Bancshares worth $13,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Lido Advisors LLC bought a new stake in Huntington Bancshares in the fourth quarter worth about $174,000. Zeke Capital Advisors LLC bought a new stake in Huntington Bancshares in the fourth quarter worth about $307,000. LPL Financial LLC lifted its stake in Huntington Bancshares by 166.2% in the fourth quarter. LPL Financial LLC now owns 112,088 shares of the bank’s stock worth $1,632,000 after purchasing an additional 69,978 shares during the last quarter. Millennium Management LLC lifted its stake in Huntington Bancshares by 47.7% in the fourth quarter. Millennium Management LLC now owns 4,923,997 shares of the bank’s stock worth $71,693,000 after purchasing an additional 1,590,283 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. lifted its stake in Huntington Bancshares by 52.2% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 280,928 shares of the bank’s stock worth $4,089,000 after purchasing an additional 96,378 shares during the last quarter. 73.91% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on the stock. ValuEngine downgraded shares of Huntington Bancshares from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Morgan Stanley raised their price objective on shares of Huntington Bancshares from $16.50 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. BidaskClub raised shares of Huntington Bancshares from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 7th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $16.75 price objective on shares of Huntington Bancshares in a research note on Wednesday, January 24th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Nine equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $16.93.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.26 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. Huntington Bancshares had a net margin of 25.02% and a return on equity of 12.12%. During the same quarter in the previous year, the firm posted $0.18 earnings per share. sell-side analysts expect that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 19th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 2.99%. The ex-dividend date is Friday, March 16th. Huntington Bancshares’s payout ratio is 44.00%.
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Huntington Bancshares Profile
Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.
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