AEGON ASSET MANAGEMENT UK Plc Cuts Stock Position in Huntington Bancshares Incorporated $HBAN

Key Points

• AEGON ASSET MANAGEMENT UK Plc cut its Huntington Bancshares stake by 46.5% in Q1, selling 230,478 shares and ending with 265,495 shares worth about $4.15 million.
• Insider activity also leaned negative: director James D. Rollins III sold 223,522 shares on June 12 in a transaction valued at about $3.88 million, reducing his position by 26.75%.
• Huntington Bancshares posted solid quarterly results, beating EPS estimates, and it announced a quarterly dividend of $0.155 per share to be paid July 1, implying an annualized yield of 3.7%.

AEGON ASSET MANAGEMENT UK Plc lessened its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 46.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 265,495 shares of the bank's stock after selling 230,478 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc's holdings in Huntington Bancshares were worth $4,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. MV Capital Management Inc. bought a new position in Huntington Bancshares during the fourth quarter valued at about $25,000. Palisade Asset Management LLC purchased a new position in Huntington Bancshares in the third quarter valued at about $26,000. South Plains Financial Inc. increased its stake in shares of Huntington Bancshares by 116.3% during the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank's stock worth $27,000 after purchasing an additional 826 shares during the last quarter. Centennial Bank AR bought a new stake in shares of Huntington Bancshares in the 4th quarter worth approximately $28,000. Finally, Accredited Wealth Management LLC lifted its stake in Huntington Bancshares by 374.5% in the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank's stock valued at $29,000 after purchasing an additional 1,322 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Morgan Stanley decreased their target price on Huntington Bancshares from $21.00 to $20.00 and set an "overweight" rating for the company in a research report on Friday, April 24th. Jefferies Financial Group upped their price target on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Stephens started coverage on Huntington Bancshares in a research note on Monday, June 15th. They set an "equal weight" rating and a $19.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on Huntington Bancshares from $19.00 to $18.50 and set an "overweight" rating for the company in a report on Thursday, April 30th. Finally, Evercore restated an "outperform" rating and issued a $20.00 price objective on shares of Huntington Bancshares in a research note on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Huntington Bancshares presently has a consensus rating of "Moderate Buy" and an average target price of $20.05.

Insider Buying and Selling

In other Huntington Bancshares news, Director James D. Rollins III sold 223,522 shares of Huntington Bancshares stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the transaction, the director owned 612,155 shares of the company's stock, valued at $10,620,889.25. The trade was a 26.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders bought 33,500 shares of company stock valued at $617,542. 0.67% of the stock is owned by company insiders.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $16.86 on Friday. The company's fifty day simple moving average is $16.40 and its two-hundred day simple moving average is $16.86. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. Huntington Bancshares Incorporated has a 1 year low of $14.89 and a 1 year high of $19.45. The stock has a market capitalization of $34.18 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 0.77 and a beta of 0.94.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) 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 firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the prior year, the business posted $0.34 earnings per share. As a group, analysts anticipate that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be issued a dividend of $0.155 per share. 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 3.7%. Huntington Bancshares's dividend payout ratio is 47.69%.

Huntington Bancshares 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.

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