GAM Holding AG Has $7.55 Million Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

GAM Holding AG trimmed its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 502,968 shares of the bank's stock after selling 33,255 shares during the period. GAM Holding AG's holdings in Huntington Bancshares were worth $7,550,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in shares of Huntington Bancshares in the fourth quarter worth about $302,826,000. Raymond James Financial Inc. bought a new position in shares of Huntington Bancshares in the fourth quarter worth about $150,444,000. FMR LLC increased its stake in shares of Huntington Bancshares by 36.9% in the fourth quarter. FMR LLC now owns 32,479,039 shares of the bank's stock worth $528,434,000 after purchasing an additional 8,759,871 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Huntington Bancshares by 126.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,048,773 shares of the bank's stock worth $114,684,000 after purchasing an additional 3,938,769 shares during the period. Finally, Amundi increased its stake in shares of Huntington Bancshares by 26.7% in the fourth quarter. Amundi now owns 17,435,207 shares of the bank's stock worth $286,460,000 after purchasing an additional 3,671,235 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Huntington Bancshares news, VP Brantley J. Standridge sold 70,417 shares of the company's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $13.69, for a total transaction of $964,008.73. Following the completion of the sale, the vice president now owns 326,456 shares in the company, valued at approximately $4,469,182.64. The trade was a 17.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 59,060 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $14.36, for a total transaction of $848,101.60. Following the sale, the chief financial officer now owns 277,348 shares of the company's stock, valued at $3,982,717.28. The trade was a 17.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 218,617 shares of company stock worth $3,113,982 in the last quarter. Insiders own 0.89% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on HBAN shares. Truist Financial lifted their price objective on Huntington Bancshares from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Jefferies Financial Group started coverage on Huntington Bancshares in a research note on Wednesday, May 21st. They issued a "buy" rating and a $20.00 price objective on the stock. Baird R W upgraded Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Stephens reissued an "equal weight" rating and set a $16.50 target price on shares of Huntington Bancshares in a research report on Monday, April 21st. Finally, Deutsche Bank Aktiengesellschaft raised Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 target price on the stock in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.08.

Huntington Bancshares Price Performance

Shares of HBAN traded up $0.11 on Friday, hitting $15.84. The company's stock had a trading volume of 27,454,187 shares, compared to its average volume of 18,618,629. The company has a market capitalization of $23.14 billion, a PE ratio of 12.09, a PEG ratio of 1.21 and a beta of 0.92. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.90 and a quick ratio of 0.89. Huntington Bancshares Incorporated has a fifty-two week low of $11.92 and a fifty-two week high of $18.45. The company has a 50 day moving average price of $15.21 and a 200 day moving average price of $15.68.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its earnings results on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. Huntington Bancshares had a return on equity of 11.44% and a net margin of 16.94%. During the same period in the previous year, the business earned $0.27 EPS. On average, research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

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

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.91%. The ex-dividend date is Tuesday, June 17th. Huntington Bancshares's dividend payout ratio (DPR) is presently 47.33%.

Huntington Bancshares Company 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.