Intech Investment Management LLC Increases Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Intech Investment Management LLC lifted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 433.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 186,618 shares of the bank’s stock after purchasing an additional 151,633 shares during the period. Intech Investment Management LLC’s holdings in Huntington Bancshares were worth $3,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arvest Bank Trust Division purchased a new stake in shares of Huntington Bancshares in the third quarter worth $2,381,000. Mediolanum International Funds Ltd purchased a new position in Huntington Bancshares during the fourth quarter valued at $422,000. Donoghue Forlines LLC purchased a new position in Huntington Bancshares during the fourth quarter valued at $1,460,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Huntington Bancshares by 5.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock valued at $12,414,000 after acquiring an additional 44,662 shares in the last quarter. Finally, Petiole USA ltd purchased a new position in Huntington Bancshares during the third quarter valued at $3,454,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $14.97 on Thursday. The firm has a 50-day moving average price of $16.28 and a 200-day moving average price of $16.12. The firm has a market capitalization of $21.87 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. Huntington Bancshares Incorporated has a 12-month low of $12.05 and a 12-month high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter last year, the business posted $0.27 earnings per share. As a group, equities research analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 4.14%. Huntington Bancshares’s payout ratio is 50.41%.

Wall Street Analysts Forecast Growth

HBAN has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. Baird R W raised shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. Morgan Stanley cut their target price on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, Barclays lifted their price objective on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.35.

Insider Activity at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 38,451 shares of Huntington Bancshares stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.38, for a total transaction of $552,925.38. Following the completion of the sale, the chief financial officer now owns 335,538 shares in the company, valued at $4,825,036.44. This trade represents a 10.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Scott D. Kleinman sold 69,088 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the transaction, the vice president now directly owns 453,129 shares in the company, valued at $6,647,402.43. This trade represents a 13.23 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by company insiders.

Huntington Bancshares 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.