GAM Holding AG Buys 3,833 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

GAM Holding AG lifted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.7% during the third quarter, HoldingsChannel reports. The firm owned 580,803 shares of the bank’s stock after acquiring an additional 3,833 shares during the quarter. GAM Holding AG’s holdings in Huntington Bancshares were worth $8,538,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Lazard Asset Management LLC increased its holdings in shares of Huntington Bancshares by 251,152.2% during the 1st quarter. Lazard Asset Management LLC now owns 173,364 shares of the bank’s stock worth $2,417,000 after acquiring an additional 173,295 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings 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 acquiring an additional 564,729 shares during the last quarter. Heritage Wealth Management Inc. acquired a new position in shares of Huntington Bancshares during the 2nd quarter worth approximately $744,000. Silverleafe Capital Partners LLC acquired a new position in shares of Huntington Bancshares during the 1st quarter worth approximately $1,171,000. Finally, SG Americas Securities LLC increased its holdings in shares of Huntington Bancshares by 531.0% during the 2nd quarter. SG Americas Securities LLC now owns 1,150,690 shares of the bank’s stock worth $15,166,000 after acquiring an additional 968,331 shares during the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on HBAN shares. Barclays boosted their target price on Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Sandler O’Neill reaffirmed a “buy” rating on shares of Huntington Bancshares in a report on Friday. Evercore ISI decreased their price objective on Huntington Bancshares from $17.50 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 price objective on shares of Huntington Bancshares in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. decreased their price objective on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and an average target price of $16.03.

Huntington Bancshares Price Performance

Shares of HBAN stock opened at $15.54 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. Huntington Bancshares Incorporated has a twelve month low of $9.25 and a twelve month high of $16.03. The company has a market cap of $22.52 billion, a P/E ratio of 14.00, a P/E/G ratio of 2.77 and a beta of 1.04. The business has a fifty day simple moving average of $14.60 and a 200 day simple moving average of $13.95.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. During the same period in the prior year, the company earned $0.36 EPS. On average, sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.18 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s payout ratio is 55.86%.

Insider Activity

In related news, VP Brendan A. Lawlor sold 9,050 shares of Huntington Bancshares stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $15.06, for a total value of $136,293.00. Following the transaction, the vice president now directly owns 11,111 shares of the company’s stock, valued at $167,331.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Brendan A. Lawlor sold 9,050 shares of Huntington Bancshares stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $15.06, for a total value of $136,293.00. Following the transaction, the vice president now directly owns 11,111 shares of the company’s stock, valued at $167,331.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Helga Houston sold 11,288 shares of Huntington Bancshares 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 completion of the transaction, the insider now directly owns 618,832 shares in the company, valued at approximately $9,294,856.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

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.