Assenagon Asset Management S.A. Increases Stock Position in Huntington Bancshares Incorporated $HBAN

Assenagon Asset Management S.A. increased its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 50.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 286,976 shares of the bank’s stock after buying an additional 96,844 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Huntington Bancshares were worth $4,979,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HBAN. Palisade Asset Management LLC purchased a new position in shares of Huntington Bancshares in the 3rd quarter worth about $26,000. South Plains Financial Inc. grew its holdings in shares of Huntington Bancshares by 116.3% during the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after purchasing an additional 826 shares during the period. Accredited Wealth Management LLC increased its position in Huntington Bancshares by 374.5% during the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock worth $29,000 after purchasing an additional 1,322 shares in the last quarter. Grey Fox Wealth Advisors LLC purchased a new position in Huntington Bancshares in the third quarter valued at approximately $31,000. Finally, AlphaCore Capital LLC purchased a new position in Huntington Bancshares in the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Buying and Selling

In related news, insider Amit Dhingra sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $18.50, for a total value of $185,000.00. Following the transaction, the insider owned 155,634 shares in the company, valued at approximately $2,879,229. The trade was a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Brendan A. Lawlor sold 17,455 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $18.93, for a total value of $330,423.15. Following the completion of the transaction, the vice president directly owned 42,398 shares of the company’s stock, valued at $802,594.14. This represents a 29.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders bought 27,700 shares of company stock worth $540,401 and sold 108,986 shares worth $1,785,958. Corporate insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Zacks Research downgraded shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Piper Sandler raised their target price on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company an “underweight” rating in a research note on Thursday, January 22nd. UBS Group set a $21.00 target price on shares of Huntington Bancshares in a report on Wednesday, February 4th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $21.00 price target on shares of Huntington Bancshares in a research report on Tuesday, January 6th. Finally, Truist Financial lowered their price target on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating for the company in a report on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $20.63.

Huntington Bancshares Trading Down 2.3%

HBAN opened at $15.08 on Friday. The firm’s 50 day moving average is $16.98 and its 200-day moving average is $16.86. Huntington Bancshares Incorporated has a 52-week low of $11.91 and a 52-week high of $19.45. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $30.72 billion, a P/E ratio of 10.85, a P/E/G ratio of 0.61 and a beta of 0.95.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. During the same quarter last year, the company posted $0.34 earnings per share. Analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 4.1%. Huntington Bancshares’s payout ratio is currently 44.60%.

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.