Envestnet Asset Management Inc. Reduces Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Envestnet Asset Management Inc. cut its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 1.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,649,355 shares of the bank's stock after selling 63,842 shares during the quarter. Envestnet Asset Management Inc. owned about 0.32% of Huntington Bancshares worth $69,787,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. raised its stake in Huntington Bancshares by 4.6% during the fourth quarter. Invesco Ltd. now owns 52,599,986 shares of the bank's stock worth $855,802,000 after purchasing an additional 2,310,502 shares during the period. FMR LLC increased its holdings 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 buying an additional 8,759,871 shares during the last quarter. Norges Bank purchased a new stake in shares of Huntington Bancshares during the 4th quarter valued at approximately $302,826,000. Northern Trust Corp raised its position in shares of Huntington Bancshares by 18.4% during the 4th quarter. Northern Trust Corp now owns 14,422,723 shares of the bank's stock valued at $234,658,000 after buying an additional 2,241,926 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Huntington Bancshares by 9.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,679,600 shares of the bank's stock valued at $222,567,000 after acquiring an additional 1,188,542 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company's stock.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Helga Houston sold 42,345 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $14.72, for a total value of $623,318.40. Following the completion of the transaction, the insider owned 592,119 shares in the company, valued at $8,715,991.68. This represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Brantley J. Standridge sold 70,417 shares of the business's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $13.69, for a total value of $964,008.73. Following the completion of the sale, the vice president directly owned 326,456 shares of the company's stock, valued at $4,469,182.64. The trade was a 17.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 214,375 shares of company stock worth $3,049,277. 0.89% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on HBAN. Royal Bank Of Canada cut their target price on Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Citigroup raised their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Wall Street Zen raised shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Jefferies Financial Group initiated coverage on shares of Huntington Bancshares in a research note on Wednesday, May 21st. They set a "buy" rating and a $20.00 target price for the company. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Huntington Bancshares has an average rating of "Moderate Buy" and a consensus price target of $18.48.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $17.39 on Friday. The stock has a market cap of $25.40 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 1.34 and a beta of 0.93. The company has a fifty day simple moving average of $16.10 and a 200-day simple moving average of $15.71. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.98. Huntington Bancshares Incorporated has a 12-month low of $11.92 and a 12-month high of $18.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.44% and a net margin of 16.94%. The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same period in the prior year, the firm posted $0.27 EPS. Equities analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares declared that its Board of Directors has approved a share repurchase plan on Thursday, April 17th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the bank to purchase up to 5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th were given a dividend of $0.155 per share. The ex-dividend date was Tuesday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.57%. Huntington Bancshares's dividend payout ratio is presently 47.33%.

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.

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