Allianz Asset Management GmbH Sells 33,673 Shares of Huntington Bancshares Incorporated $HBAN

Allianz Asset Management GmbH lowered its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 717,302 shares of the bank’s stock after selling 33,673 shares during the quarter. Allianz Asset Management GmbH’s holdings in Huntington Bancshares were worth $12,388,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. MTM Investment Management LLC bought a new stake in Huntington Bancshares during the second quarter worth $25,000. Grey Fox Wealth Advisors LLC acquired a new position in shares of Huntington Bancshares during the 3rd quarter worth about $31,000. Catalyst Capital Advisors LLC bought a new stake in shares of Huntington Bancshares in the 2nd quarter valued at about $30,000. First Horizon Corp bought a new stake in shares of Huntington Bancshares in the 3rd quarter valued at about $36,000. Finally, Root Financial Partners LLC acquired a new stake in Huntington Bancshares in the 3rd quarter valued at about $44,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on HBAN shares. Argus boosted their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. TD Cowen upped their price objective on shares of Huntington Bancshares from $22.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Barclays increased their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, January 5th. Keefe, Bruyette & Woods reduced their target price on shares of Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating for the company in a report on Friday, January 23rd. Finally, Evercore started coverage on shares of Huntington Bancshares in a report on Tuesday, February 3rd. They issued an “outperform” rating and a $21.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.48.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $19.27 on Monday. The firm’s 50 day simple moving average is $17.72 and its 200 day simple moving average is $16.95. The firm has a market capitalization of $30.35 billion, a price-to-earnings ratio of 13.86, a P/E/G ratio of 0.78 and a beta of 0.96. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80. Huntington Bancshares Incorporated has a 1 year low of $11.91 and a 1 year high of $19.46.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.21 billion. Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.During the same period in the previous year, the firm posted $0.34 EPS. As a group, research analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.2%. Huntington Bancshares’s dividend payout ratio is presently 44.60%.

Insider Activity at Huntington Bancshares

In other news, insider Kendall A. Kowalski sold 2,481 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $17.80, for a total value of $44,161.80. Following the transaction, the insider directly owned 71,566 shares of the company’s stock, valued at $1,273,874.80. The trade was a 3.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Helga Houston sold 64,587 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $15.38, for a total value of $993,348.06. Following the transaction, the insider owned 534,640 shares in the company, valued at $8,222,763.20. The trade was a 10.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 103,693 shares of company stock valued at $1,693,220 over the last ninety days. Insiders own 0.89% of the company’s stock.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.