Point72 DIFC Ltd Purchases New Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Point72 DIFC Ltd acquired a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 243,037 shares of the bank’s stock, valued at approximately $3,203,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Lazard Asset Management LLC boosted its holdings in Huntington Bancshares by 251,152.2% in the first quarter. Lazard Asset Management LLC now owns 173,364 shares of the bank’s stock valued at $2,417,000 after acquiring an additional 173,295 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of Huntington Bancshares by 53.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 1,617,730 shares of the bank’s stock worth $22,577,000 after buying an additional 564,729 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in Huntington Bancshares by 8.6% in the first quarter. Massmutual Trust Co. FSB ADV now owns 136,961 shares of the bank’s stock valued at $1,911,000 after buying an additional 10,795 shares during the period. Goldman Sachs Group Inc. boosted its stake in Huntington Bancshares by 39.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock valued at $83,124,000 after acquiring an additional 1,838,019 shares during the last quarter. Finally, KBC Group NV raised its position in shares of Huntington Bancshares by 715.0% during the 4th quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock valued at $54,081,000 after acquiring an additional 3,729,974 shares during the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Jefferies Financial Group cut their target price on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. cut their target price on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Citigroup lifted their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Robert W. Baird cut shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research report on Friday, July 26th. Finally, StockNews.com downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, September 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.59.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $14.60 on Tuesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. The firm has a 50-day moving average of $14.38 and a 200-day moving average of $13.75. The company has a market cap of $21.16 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 2.90 and a beta of 1.05. Huntington Bancshares Incorporated has a one year low of $9.25 and a one year high of $15.24.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, July 19th. The bank reported $0.30 EPS for the quarter, topping the consensus estimate of $0.28 by $0.02. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the company posted $0.35 EPS. As a group, equities analysts forecast that Huntington Bancshares Incorporated will post 1.19 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend is Tuesday, September 17th. Huntington Bancshares’s payout ratio is presently 55.86%.

Insider Transactions at Huntington Bancshares

In other news, insider Helga Houston sold 11,288 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $15.02, for a total value of $169,545.76. Following the transaction, the insider now owns 618,832 shares of the company’s stock, valued at $9,294,856.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Zachary Jacob Wasserman sold 33,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $15.13, for a total transaction of $499,290.00. Following the transaction, the chief financial officer now directly owns 265,809 shares of the company’s stock, valued at $4,021,690.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Helga Houston sold 11,288 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.02, for a total value of $169,545.76. Following the completion of the sale, the insider now owns 618,832 shares of the company’s stock, valued at $9,294,856.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 116,622 shares of company stock worth $1,762,904. 0.89% of the stock is owned by insiders.

About Huntington Bancshares

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.