American Century Companies Inc. Cuts Stock Position in Huntington Bancshares Incorporated $HBAN

Key Points

• American Century Companies Inc. reduced its stake in Huntington Bancshares by 4.5%, now holding approximately $11.59 million worth of the stock.
• Institutional investors collectively own over 80% of Huntington Bancshares, reflecting strong support from major financial entities.
• A mix of analysts has issued positive ratings and raised price targets for Huntington Bancshares, with a current consensus price target of $18.68.

American Century Companies Inc. cut its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 4.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 772,211 shares of the bank's stock after selling 36,122 shares during the period. American Century Companies Inc. owned approximately 0.05% of Huntington Bancshares worth $11,591,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in HBAN. Smallwood Wealth Investment Management LLC purchased a new position in shares of Huntington Bancshares during the 1st quarter worth about $29,000. LFA Lugano Financial Advisors SA purchased a new position in Huntington Bancshares in the 1st quarter worth about $31,000. Golden State Wealth Management LLC increased its stake in Huntington Bancshares by 516.3% in the 1st quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock worth $33,000 after buying an additional 1,869 shares during the period. Wayfinding Financial LLC purchased a new position in Huntington Bancshares in the 1st quarter worth about $39,000. Finally, TruNorth Capital Management LLC purchased a new position in Huntington Bancshares in the 1st quarter worth about $40,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Up 0.1%

NASDAQ HBAN traded up $0.01 during trading on Friday, reaching $17.81. 22,951,162 shares of the company's stock traded hands, compared to its average volume of 24,577,678. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $25.98 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 0.91 and a beta of 0.96. The company's 50 day simple moving average is $16.82 and its two-hundred day simple moving average is $15.70. Huntington Bancshares Incorporated has a 12-month low of $11.91 and a 12-month high of $18.44.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 17th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.5%. Huntington Bancshares's dividend payout ratio (DPR) is 45.93%.

Insider Buying and Selling

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 13,700 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $15.79, for a total transaction of $216,323.00. Following the completion of the sale, the executive vice president directly owned 337,879 shares of the company's stock, valued at approximately $5,335,109.41. This represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.89% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on HBAN shares. Cowen started coverage on shares of Huntington Bancshares in a research note on Wednesday, May 14th. They issued a "buy" rating on the stock. Wall Street Zen downgraded shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. Jefferies Financial Group started coverage on shares of Huntington Bancshares in a research note on Wednesday, May 21st. They issued a "buy" rating and a $20.00 price target on the stock. DA Davidson raised their price target on shares of Huntington Bancshares from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Finally, Citigroup raised their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three 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 a consensus rating of "Moderate Buy" and a consensus target price of $18.68.

About Huntington Bancshares

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.