Aberdeen Group plc Sells 2,378,004 Shares of Huntington Bancshares Incorporated $HBAN

Aberdeen Group plc lessened its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 66.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,184,304 shares of the bank’s stock after selling 2,378,004 shares during the period. Aberdeen Group plc owned 0.08% of Huntington Bancshares worth $17,569,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Huntington Bancshares in the 1st quarter valued at $29,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of Huntington Bancshares in the 1st quarter valued at $31,000. Golden State Wealth Management LLC boosted its holdings in shares of Huntington Bancshares by 516.3% in the 1st quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank’s stock valued at $33,000 after purchasing an additional 1,869 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Huntington Bancshares in the 1st quarter valued at $39,000. Finally, TruNorth Capital Management LLC acquired a new stake in shares of Huntington Bancshares in the 1st quarter valued at $40,000. Institutional investors own 80.72% of the company’s stock.

Insider Transactions at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 13,700 shares of Huntington Bancshares stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $15.79, for a total value of $216,323.00. Following the completion of the transaction, the executive vice president directly owned 337,879 shares of the company’s stock, valued at approximately $5,335,109.41. This trade represents a 3.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.89% of the stock is currently owned by corporate insiders.

Huntington Bancshares Stock Up 0.7%

Shares of NASDAQ:HBAN opened at $16.68 on Tuesday. The firm has a market cap of $24.33 billion, a P/E ratio of 12.36, a P/E/G ratio of 0.85 and a beta of 0.93. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. Huntington Bancshares Incorporated has a 12-month low of $11.91 and a 12-month high of $18.44. The business has a fifty day simple moving average of $16.56 and a 200 day simple moving average of $15.67.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, September 17th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 45.93%.

Analyst Ratings Changes

A number of brokerages have weighed in on HBAN. Wall Street Zen downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Sunday, July 13th. Jefferies Financial Group began coverage on Huntington Bancshares in a report on Wednesday, May 21st. They issued a “buy” rating and a $20.00 target price on the stock. Keefe, Bruyette & Woods reduced their target price on Huntington Bancshares from $18.00 to $17.00 and set a “market perform” rating on the stock in a report on Monday, April 21st. Citigroup raised their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $21.00 price objective (up previously from $18.00) on shares of Huntington Bancshares in a report on Tuesday, July 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.68.

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.