SEB Asset Management AB Makes New Investment in Huntington Bancshares Incorporated $HBAN

SEB Asset Management AB bought a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 399,502 shares of the bank’s stock, valued at approximately $6,252,000.

Other large investors also recently made changes to their positions in the company. Spartan Wealth Advisory Services LLC bought a new stake in shares of Huntington Bancshares during the 1st quarter worth about $626,000. Annis Gardner Whiting Capital Advisors LLC boosted its position in Huntington Bancshares by 80.7% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,226 shares of the bank’s stock worth $35,000 after purchasing an additional 994 shares during the period. California Public Employees Retirement System grew its holdings in Huntington Bancshares by 31.0% during the first quarter. California Public Employees Retirement System now owns 3,631,775 shares of the bank’s stock valued at $56,837,000 after purchasing an additional 859,090 shares during the last quarter. Bartlett & CO. Wealth Management LLC grew its holdings in Huntington Bancshares by 87.1% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 27,668 shares of the bank’s stock valued at $447,000 after purchasing an additional 12,884 shares during the last quarter. Finally, Atlas Wealth LLC bought a new position in shares of Huntington Bancshares in the first quarter valued at approximately $221,000. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $18.17 on Wednesday. Huntington Bancshares Incorporated has a 12 month low of $14.89 and a 12 month high of $19.45. 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 market capitalization of $36.83 billion, a PE ratio of 13.98, a PEG ratio of 0.81 and a beta of 0.93. The stock’s fifty day simple moving average is $16.99 and its 200 day simple moving average is $16.93.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.21. The firm had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same period in the prior year, the business earned $0.34 EPS. On average, research analysts predict that Huntington Bancshares Incorporated will post 1.62 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th were issued a $0.155 dividend. The ex-dividend date was Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.4%. Huntington Bancshares’s dividend payout ratio (DPR) is 47.69%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on HBAN shares. Wolfe Research decreased their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. UBS Group lifted their price target on shares of Huntington Bancshares from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Morgan Stanley lifted their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Royal Bank Of Canada upped their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Finally, The Goldman Sachs Group decreased their price target on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $20.25.

Insider Buying and Selling at Huntington Bancshares

In related news, Director James D. Rollins III sold 223,522 shares of the firm’s 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 completion of the transaction, the director 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the sale, the executive vice president owned 267,859 shares in the company, valued at $4,821,462. The trade was a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have purchased 33,500 shares of company stock valued at $617,542 in the last 90 days. 0.67% of the stock is currently owned by corporate insiders.

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.