Los Angeles Capital Management LLC Makes New $1.49 Million Investment in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Los Angeles Capital Management LLC bought a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 116,722 shares of the bank’s stock, valued at approximately $1,485,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Huntington Bancshares by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 172,069,244 shares of the bank’s stock worth $1,789,520,000 after buying an additional 1,209,264 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Huntington Bancshares by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 45,744,281 shares of the bank’s stock worth $468,725,000 after purchasing an additional 245,025 shares during the period. Boston Partners lifted its stake in Huntington Bancshares by 33.0% in the third quarter. Boston Partners now owns 29,277,030 shares of the bank’s stock worth $304,439,000 after purchasing an additional 7,271,405 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Huntington Bancshares by 23.7% during the third quarter. Victory Capital Management Inc. now owns 17,925,067 shares of the bank’s stock valued at $186,421,000 after buying an additional 3,438,552 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Huntington Bancshares by 5.5% in the third 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 owned by hedge funds and other institutional investors.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $13.85 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88. The firm’s 50 day simple moving average is $13.48 and its 200-day simple moving average is $12.46. Huntington Bancshares Incorporated has a 12 month low of $9.13 and a 12 month high of $14.07. The stock has a market capitalization of $20.07 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 2.55 and a beta of 1.09.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.74 billion. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. During the same period in the prior year, the company posted $0.38 EPS. Analysts expect that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date is Friday, June 14th. This represents a $0.62 annualized dividend and a dividend yield of 4.48%. Huntington Bancshares’s payout ratio is 55.86%.

Insider Activity at Huntington Bancshares

In other news, VP Rajeev Syal sold 11,627 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $13.67, for a total value of $158,941.09. Following the completion of the sale, the vice president now owns 329,607 shares of the company’s stock, valued at approximately $4,505,727.69. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Huntington Bancshares news, VP Rajeev Syal sold 11,627 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $13.67, for a total value of $158,941.09. Following the completion of the transaction, the vice president now owns 329,607 shares of the company’s stock, valued at approximately $4,505,727.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Zachary Jacob Wasserman sold 30,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total value of $409,800.00. Following the sale, the chief financial officer now directly owns 305,884 shares in the company, valued at approximately $4,178,375.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 224,092 shares of company stock valued at $3,031,731. 0.92% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HBAN. Citigroup upped their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Jefferies Financial Group upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and lifted their target price for the company from $14.00 to $16.00 in a research note on Monday, April 8th. Bank of America upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. Royal Bank of Canada lifted their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. Finally, Stephens reissued an “equal weight” rating and issued a $15.00 price objective on shares of Huntington Bancshares in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Huntington Bancshares presently has an average rating of “Moderate Buy” and an average price target of $15.17.

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.