BI Asset Management Fondsmaeglerselskab A S Cuts Stake in Huntington Bancshares Incorporated $HBAN

BI Asset Management Fondsmaeglerselskab A S lowered its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 21.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund 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 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in HBAN. Sagespring Wealth Partners LLC lifted its stake in Huntington Bancshares by 2.4% in the fourth quarter. Sagespring Wealth Partners LLC now owns 25,217 shares of the bank’s stock worth $438,000 after purchasing an additional 587 shares during the last quarter. MCF Advisors LLC grew its stake in shares of Huntington Bancshares by 12.6% during the fourth quarter. MCF Advisors LLC now owns 5,438 shares of the bank’s stock valued at $95,000 after buying an additional 609 shares during the last quarter. Rehmann Capital Advisory Group grew its stake in shares of Huntington Bancshares by 4.3% during the third quarter. Rehmann Capital Advisory Group now owns 16,881 shares of the bank’s stock valued at $292,000 after buying an additional 694 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Huntington Bancshares by 0.4% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 189,963 shares of the bank’s stock worth $3,296,000 after buying an additional 700 shares during the period. Finally, Glenmede Investment Management LP increased its holdings in shares of Huntington Bancshares by 1.7% in the third quarter. Glenmede Investment Management LP now owns 43,702 shares of the bank’s stock worth $755,000 after buying an additional 728 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insiders Place Their Bets

In related news, Director James D. Rollins III sold 223,522 shares of Huntington Bancshares stock in a transaction on Friday, June 12th. The shares were sold at an average price of $17.35, for a total value of $3,878,106.70. Following the sale, the director owned 612,155 shares in the company, valued at $10,620,889.25. The trade was a 26.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have acquired a total of 33,500 shares of company stock valued at $617,542 in the last quarter. Insiders own 0.67% of the company’s stock.

Huntington Bancshares Stock Performance

Shares of NASDAQ:HBAN opened at $17.44 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average price of $16.43 and a 200-day moving average price of $16.87. The company has a market cap of $35.35 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 0.77 and a beta of 0.94. Huntington Bancshares Incorporated has a 12 month low of $14.89 and a 12 month high of $19.45.

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

Huntington Bancshares Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Stephens started coverage on Huntington Bancshares in a report on Monday, June 15th. They set an “equal weight” rating and a $19.00 target price for the company. Truist Financial decreased their price target on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Piper Sandler raised Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price target on the stock in a research note on Thursday, April 23rd. Barclays downgraded Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Finally, Weiss Ratings lowered Huntington Bancshares from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.05.

Huntington Bancshares Company Profile

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.