Handelsbanken Fonder AB Decreases Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Handelsbanken Fonder AB lessened its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 348,256 shares of the bank’s stock after selling 8,155 shares during the quarter. Handelsbanken Fonder AB’s holdings in Huntington Bancshares were worth $4,430,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. CWM LLC raised its holdings in Huntington Bancshares by 8.4% during the 4th quarter. CWM LLC now owns 177,872 shares of the bank’s stock valued at $2,263,000 after buying an additional 13,844 shares during the period. Signaturefd LLC grew its position in Huntington Bancshares by 33.4% in the 4th quarter. Signaturefd LLC now owns 29,748 shares of the bank’s stock valued at $378,000 after acquiring an additional 7,449 shares during the last quarter. Lindbrook Capital LLC grew its position in Huntington Bancshares by 43.4% in the 4th quarter. Lindbrook Capital LLC now owns 4,530 shares of the bank’s stock valued at $58,000 after acquiring an additional 1,371 shares during the last quarter. abrdn plc grew its position in Huntington Bancshares by 12.1% in the 4th quarter. abrdn plc now owns 4,554,122 shares of the bank’s stock valued at $57,928,000 after acquiring an additional 490,494 shares during the last quarter. Finally, Hunter Associates Investment Management LLC grew its position in Huntington Bancshares by 76.8% in the 4th quarter. Hunter Associates Investment Management LLC now owns 53,415 shares of the bank’s stock valued at $680,000 after acquiring an additional 23,200 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Transactions at Huntington Bancshares

In other news, CFO Zachary Jacob Wasserman sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total value of $409,800.00. Following the completion of the transaction, the chief financial officer now directly owns 305,884 shares in the company, valued at $4,178,375.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 30,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 305,884 shares of the company’s stock, valued at $4,178,375.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann B. Crane sold 58,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $13.54, for a total value of $785,320.00. Following the completion of the transaction, the director now directly owns 192,247 shares of the company’s stock, valued at $2,603,024.38. The disclosure for this sale can be found here. Insiders sold a total of 198,189 shares of company stock worth $2,664,978 over the last three months. 0.89% of the stock is currently owned by insiders.

Analysts Set New Price Targets

HBAN has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price target on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Citigroup increased their price target on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Jefferies Financial Group raised Huntington Bancshares from a “hold” rating to a “buy” rating and increased their price target for the stock from $14.00 to $16.00 in a research report on Monday, April 8th. Keefe, Bruyette & Woods increased their price target on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Finally, DA Davidson raised Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their price target for the stock from $14.00 to $15.50 in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.17.

Huntington Bancshares Trading Down 1.3 %

Huntington Bancshares stock opened at $13.58 on Friday. The stock has a 50-day moving average of $13.35 and a two-hundred day moving average of $12.23. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88. Huntington Bancshares Incorporated has a one year low of $9.13 and a one year high of $14.07. The stock has a market cap of $19.66 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 2.53 and a beta of 1.11.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, April 19th. The bank reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the business posted $0.38 earnings per share. On average, research analysts anticipate that Huntington Bancshares Incorporated will post 1.22 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed 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 4.57%. The ex-dividend date of this dividend is Friday, June 14th. Huntington Bancshares’s payout ratio is 55.86%.

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.