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

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in Huntington Bancshares by 36.4% during the first quarter, owning 90,467 shares valued at $1,358,000 after selling 51,821 shares.
• Huntington Bancshares announced a quarterly dividend of $0.155 per share, with a dividend yield of 3.7%, to be paid on October 1st.
• Analysts have shown positive sentiment towards the stock, with several upgrades and a current average target price of $18.68, indicating a "Moderate Buy" rating.

BI Asset Management Fondsmaeglerselskab A S lowered its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 36.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,467 shares of the bank's stock after selling 51,821 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Huntington Bancshares were worth $1,358,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Smallwood Wealth Investment Management LLC purchased a new stake in Huntington Bancshares in the 1st quarter valued at approximately $29,000. LFA Lugano Financial Advisors SA purchased a new stake in Huntington Bancshares in the 1st quarter valued at approximately $31,000. Golden State Wealth Management LLC boosted its holdings 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 valued at $33,000 after purchasing an additional 1,869 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in Huntington Bancshares in the 1st quarter valued at approximately $39,000. Finally, TruNorth Capital Management LLC purchased a new stake in Huntington Bancshares in the 1st quarter valued at approximately $40,000. Hedge funds and other institutional investors own 80.72% of the company's stock.

Insider Transactions at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 13,700 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $15.79, for a total value of $216,323.00. Following the sale, the executive vice president owned 337,879 shares of the company's stock, valued at approximately $5,335,109.41. This represents a 3.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.89% of the company's stock.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN traded up $0.70 during trading on Friday, hitting $17.36. 30,878,382 shares of the stock were exchanged, compared to its average volume of 28,155,882. The company has a fifty day moving average price of $16.63 and a two-hundred day moving average price of $15.67. The company has a market cap of $25.32 billion, a PE ratio of 12.86, a P/E/G ratio of 0.89 and a beta of 0.93. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.92. Huntington Bancshares Incorporated has a 12-month low of $11.91 and a 12-month high of $18.44.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th will be paid a $0.155 dividend. 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 3.6%. Huntington Bancshares's dividend payout ratio is presently 45.93%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on HBAN shares. DA Davidson lifted their price objective on Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a report on Monday, July 21st. TD Cowen started coverage on Huntington Bancshares in a report on Thursday, May 15th. They issued a "buy" rating and a $20.00 price objective on the stock. Citigroup lifted their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Jefferies Financial Group started coverage on Huntington Bancshares in a research note on Wednesday, May 21st. They set a "buy" rating and a $20.00 price target on the stock. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $21.00 price target (up previously from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $18.68.

Huntington Bancshares Profile

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.