BI Asset Management Fondsmaeglerselskab A S Reduces Stock Position in Huntington Bancshares Incorporated $HBAN

BI Asset Management Fondsmaeglerselskab A S reduced its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 21.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,583 shares of the bank’s stock after selling 30,817 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Huntington Bancshares were worth $1,778,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. CIBC Asset Management Inc boosted its position in shares of Huntington Bancshares by 24.5% in the fourth quarter. CIBC Asset Management Inc now owns 533,005 shares of the bank’s stock valued at $9,248,000 after acquiring an additional 104,965 shares during the period. Fieldview Capital Management LLC increased its holdings in Huntington Bancshares by 15.9% during the 3rd quarter. Fieldview Capital Management LLC now owns 478,852 shares of the bank’s stock worth $8,270,000 after acquiring an additional 65,828 shares during the period. Creative Financial Designs Inc. ADV lifted its stake in Huntington Bancshares by 688.9% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 86,478 shares of the bank’s stock worth $1,500,000 after purchasing an additional 75,516 shares in the last quarter. KBC Group NV lifted its stake in Huntington Bancshares by 16.3% in the 4th quarter. KBC Group NV now owns 2,820,816 shares of the bank’s stock worth $48,941,000 after purchasing an additional 395,489 shares in the last quarter. Finally, Korea Investment CORP boosted its holdings in Huntington Bancshares by 107.2% in the 3rd quarter. Korea Investment CORP now owns 3,933,919 shares of the bank’s stock valued at $67,939,000 after purchasing an additional 2,035,351 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on HBAN. DA Davidson decreased their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, March 16th. Barclays lowered Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. decreased their target price on Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Morgan Stanley lowered their price target on Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, April 24th. Finally, Piper Sandler upgraded Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price target for the company in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.05.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $17.44 on Wednesday. Huntington Bancshares Incorporated has a 52-week low of $14.89 and a 52-week high of $19.45. The company has a fifty day moving average of $16.43 and a 200-day moving average of $16.87. The company has a market capitalization of $35.35 billion, a P/E ratio of 13.42, a P/E/G ratio of 0.77 and a beta of 0.94. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The business had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter in the prior year, the firm earned $0.34 earnings per share. As a group, equities research analysts predict that Huntington Bancshares Incorporated will post 1.61 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio is presently 47.69%.

Insider Activity at Huntington Bancshares

In related news, Director James D. Rollins III sold 223,522 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the transaction, the director directly owned 612,155 shares of the company’s stock, valued at approximately $10,620,889.25. This trade represents a 26.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders bought 33,500 shares of company stock worth $617,542. 0.67% of the stock is currently owned by corporate insiders.

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.