Brookstone Capital Management Invests $9.71 Million in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Brookstone Capital Management bought a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 696,192 shares of the bank’s stock, valued at approximately $9,712,000.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of 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. Boston Partners boosted its position in Huntington Bancshares by 59.3% during the fourth quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock worth $593,408,000 after purchasing an additional 17,365,446 shares in the last quarter. Norges Bank acquired a new stake in Huntington Bancshares in the fourth quarter valued at approximately $206,703,000. Dimensional Fund Advisors LP increased its position in shares of Huntington Bancshares by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 15,130,774 shares of the bank’s stock valued at $192,473,000 after buying an additional 765,070 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Huntington Bancshares by 5.5% during the 3rd quarter. Northern Trust Corp now owns 14,273,987 shares of the bank’s stock worth $148,449,000 after buying an additional 744,443 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Trading Up 0.6 %

Shares of HBAN opened at $12.78 on Friday. Huntington Bancshares Incorporated has a 12-month low of $9.25 and a 12-month high of $14.30. The firm has a market capitalization of $18.52 billion, a P/E ratio of 11.51, a P/E/G ratio of 2.40 and a beta of 1.08. The firm has a 50-day moving average price of $13.42 and a 200 day moving average price of $13.13. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. During the same quarter in the prior year, the company posted $0.38 EPS. Sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.19 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.85%. The ex-dividend date is Monday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Analysts Set New Price Targets

A number of research firms recently issued reports on HBAN. Bank of America raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their price target for the company from $14.00 to $16.00 in a research note on Monday, April 8th. UBS Group cut their target price on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, June 13th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $15.00 price target on shares of Huntington Bancshares in a research note on Tuesday, June 11th. StockNews.com lowered Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. Finally, JPMorgan Chase & Co. decreased their target price on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.03.

Insider Transactions at Huntington Bancshares

In related news, insider Helga Houston sold 7,278 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $13.64, for a total value of $99,271.92. Following the sale, the insider now directly owns 648,904 shares in the company, valued at approximately $8,851,050.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, VP Brantley J. Standridge sold 50,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total transaction of $680,000.00. Following the completion of the transaction, the vice president now directly owns 385,409 shares in the company, valued at $5,241,562.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Helga Houston sold 7,278 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $13.64, for a total value of $99,271.92. Following the transaction, the insider now directly owns 648,904 shares in the company, valued at approximately $8,851,050.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 157,829 shares of company stock worth $2,148,623. 0.89% of the stock is currently owned by company insiders.

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.