Bank of America Corp DE reduced its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 12.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,964,822 shares of the bank's stock after selling 2,228,129 shares during the period. Bank of America Corp DE owned 1.10% of Huntington Bancshares worth $259,748,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Huntington Bancshares during the fourth quarter worth about $302,826,000. Raymond James Financial Inc. acquired a new position in shares of Huntington Bancshares during the 4th quarter worth approximately $150,444,000. FMR LLC raised its stake in shares of Huntington Bancshares by 36.9% during the 4th quarter. FMR LLC now owns 32,479,039 shares of the bank's stock worth $528,434,000 after purchasing an additional 8,759,871 shares in the last quarter. Amundi boosted its holdings in shares of Huntington Bancshares by 26.7% in the 4th quarter. Amundi now owns 17,435,207 shares of the bank's stock valued at $286,460,000 after buying an additional 3,671,235 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. grew its stake in shares of Huntington Bancshares by 356.1% in the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 4,432,186 shares of the bank's stock valued at $72,112,000 after buying an additional 3,460,328 shares in the last quarter. 80.72% of the stock is owned by institutional investors.
Insider Buying and Selling
In other news, insider Helga Houston sold 42,345 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $14.72, for a total transaction of $623,318.40. Following the completion of the transaction, the insider now owns 592,119 shares of the company's stock, valued at approximately $8,715,991.68. This trade represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kendall A. Kowalski sold 25,419 shares of the business's stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $13.68, for a total transaction of $347,731.92. Following the completion of the sale, the insider now directly owns 70,281 shares in the company, valued at approximately $961,444.08. This represents a 26.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 312,456 shares of company stock worth $4,464,105 in the last ninety days. Company insiders own 0.89% of the company's stock.
Analyst Ratings Changes
HBAN has been the subject of a number of recent analyst reports. Baird R W upgraded shares of Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Morgan Stanley reduced their price target on Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Keefe, Bruyette & Woods lowered their price target on Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. cut their price objective on Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Finally, Raymond James reissued a "strong-buy" rating and set a $18.00 target price (down from $20.00) on shares of Huntington Bancshares in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $17.45.
Check Out Our Latest Research Report on HBAN
Huntington Bancshares Price Performance
Huntington Bancshares stock opened at $14.96 on Thursday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The stock has a market capitalization of $21.85 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. Huntington Bancshares Incorporated has a 52 week low of $11.92 and a 52 week high of $18.45. The stock has a fifty day moving average of $14.37 and a 200-day moving average of $15.95.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the business posted $0.27 earnings per share. On average, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.
Huntington Bancshares announced that its Board of Directors has approved a stock buyback plan on Thursday, April 17th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the bank to purchase up to 5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.
Huntington Bancshares Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be issued a $0.155 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 4.14%. Huntington Bancshares's dividend payout ratio (DPR) is presently 47.33%.
Huntington Bancshares Company Profile
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Free Report)
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.
Further Reading
Want to see what other hedge funds are holding HBAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report).
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