Danske Bank A S Raises Stake in Huntington Bancshares Incorporated $HBAN

Key Points

• Danske Bank A/S increased its stake in Huntington Bancshares by 8.5% in Q4, buying 111,949 shares to hold 1,431,055 shares (about $24.83 million), roughly 0.09% of the company.
• Huntington beat quarterly estimates, reporting $0.37 EPS versus a $0.16 consensus and $2.59B revenue, and announced a quarterly dividend of $0.155 per share (annualized $0.62, ~3.7% yield) payable July 1.
• Insiders were net sellers last quarter, selling 98,986 shares while acquiring 39,200, including notable sales by VP Brendan A. Lawlor and Prashant Nateri that reduced their holdings.

Danske Bank A S lifted its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 8.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,431,055 shares of the bank's stock after buying an additional 111,949 shares during the quarter. Danske Bank A S owned approximately 0.09% of Huntington Bancshares worth $24,829,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sagespring Wealth Partners LLC boosted its position in shares of Huntington Bancshares by 2.4% in the fourth quarter. Sagespring Wealth Partners LLC now owns 25,217 shares of the bank's stock worth $438,000 after acquiring an additional 587 shares during the last quarter. Rehmann Capital Advisory Group boosted its position in shares of Huntington Bancshares by 4.3% in the third quarter. Rehmann Capital Advisory Group now owns 16,881 shares of the bank's stock worth $292,000 after acquiring an additional 694 shares during the last quarter. Glenmede Investment Management LP boosted its position in shares of Huntington Bancshares by 1.7% in the third quarter. Glenmede Investment Management LP now owns 43,702 shares of the bank's stock worth $755,000 after acquiring an additional 728 shares during the last quarter. Advisory Services Network LLC boosted its position in shares of Huntington Bancshares by 2.5% in the third quarter. Advisory Services Network LLC now owns 29,690 shares of the bank's stock worth $513,000 after acquiring an additional 737 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its position in shares of Huntington Bancshares by 1.0% in the third quarter. Benjamin Edwards Inc. now owns 73,147 shares of the bank's stock worth $1,263,000 after acquiring an additional 758 shares during the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Huntington Bancshares news, VP Brendan A. Lawlor sold 17,455 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $18.93, for a total transaction of $330,423.15. Following the transaction, the vice president directly owned 42,398 shares of the company's stock, valued at $802,594.14. The trade was a 29.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Prashant Nateri sold 10,171 shares of the business's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $15.50, for a total transaction of $157,650.50. Following the transaction, the insider directly owned 83,819 shares in the company, valued at approximately $1,299,194.50. The trade was a 10.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders acquired 39,200 shares of company stock valued at $756,724 and sold 98,986 shares valued at $1,600,958. 0.67% of the stock is currently owned by corporate insiders.

Huntington Bancshares Trading Down 0.8%

Shares of HBAN stock opened at $16.63 on Friday. The stock has a market cap of $33.87 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 0.77 and a beta of 0.96. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. Huntington Bancshares Incorporated has a fifty-two week low of $14.78 and a fifty-two week high of $19.45. The firm's 50 day moving average price is $16.23 and its two-hundred day moving average price is $16.73.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.21. The firm had revenue of $2.59 billion for the quarter, compared to analysts' expectations 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 previous year, the company posted $0.34 earnings per share. On average, analysts anticipate that Huntington Bancshares Incorporated will post 1.61 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares's payout ratio is 47.69%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wolfe Research decreased their target price on shares of Huntington Bancshares from $21.00 to $19.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 1st. The Goldman Sachs Group decreased their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Monday, April 6th. National Bank Financial set a $21.00 target price on shares of Huntington Bancshares in a research report on Wednesday, February 4th. Argus raised their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, January 28th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Huntington Bancshares from $20.00 to $19.50 and set a "market perform" rating on the stock in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Huntington Bancshares presently has an average rating of "Moderate Buy" and a consensus price target of $20.05.

About Huntington Bancshares

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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