Neo Ivy Capital Management Sells 77,949 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Neo Ivy Capital Management decreased its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 67.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,464 shares of the bank’s stock after selling 77,949 shares during the period. Neo Ivy Capital Management’s holdings in Huntington Bancshares were worth $562,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC bought a new stake in Huntington Bancshares in the first quarter worth about $29,000. LFA Lugano Financial Advisors SA bought a new stake in Huntington Bancshares in the first quarter worth about $31,000. Golden State Wealth Management LLC raised its position in Huntington Bancshares by 516.3% in the first quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank’s stock worth $33,000 after acquiring an additional 1,869 shares during the period. Wayfinding Financial LLC bought a new stake in Huntington Bancshares in the first quarter worth about $39,000. Finally, TruNorth Capital Management LLC bought a new stake in Huntington Bancshares in the first quarter worth about $40,000. Institutional investors own 80.72% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on HBAN shares. JPMorgan Chase & Co. lowered their price target on shares of Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating on the stock in a research report on Thursday, April 3rd. Argus set a $17.00 price target on shares of Huntington Bancshares in a research report on Friday, April 25th. Cowen started coverage on shares of Huntington Bancshares in a research report on Wednesday, May 14th. They issued a “buy” rating on the stock. Royal Bank Of Canada lowered their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, April 21st. Finally, Wolfe Research raised shares of Huntington Bancshares from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Thursday, July 3rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.68.

Huntington Bancshares Price Performance

HBAN stock opened at $16.84 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89. Huntington Bancshares Incorporated has a one year low of $11.91 and a one year high of $18.44. The stock has a market cap of $24.60 billion, a PE ratio of 12.47, a P/E/G ratio of 0.87 and a beta of 0.93. The firm has a 50 day simple moving average of $16.34 and a two-hundred day simple moving average of $15.74.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 17th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.68%. Huntington Bancshares’s dividend payout ratio is presently 45.93%.

Huntington Bancshares announced that its Board of Directors has authorized a share buyback program on Thursday, April 17th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the bank to purchase up to 5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Helga Houston sold 42,345 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $14.72, for a total value of $623,318.40. Following the completion of the transaction, the insider owned 592,119 shares of the company’s stock, valued at $8,715,991.68. The trade was a 6.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Zachary Jacob Wasserman sold 59,060 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $14.36, for a total transaction of $848,101.60. Following the completion of the transaction, the chief financial officer directly owned 277,348 shares of the company’s stock, valued at approximately $3,982,717.28. This represents a 17.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,105 shares of company stock valued at $1,687,743 in the last quarter. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Company 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.