Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 21.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 162,380 shares of the bank's stock after selling 43,409 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Huntington Bancshares were worth $2,437,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in HBAN. Norges Bank purchased a new position in Huntington Bancshares in the 4th quarter worth $302,826,000. Raymond James Financial Inc. acquired a new position in shares of Huntington Bancshares in the fourth quarter valued at about $150,444,000. FMR LLC raised 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 last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Huntington Bancshares by 126.6% during 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 lifted its holdings in shares of Huntington Bancshares by 26.7% during 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 institutional investors and hedge funds.

Huntington Bancshares Stock Up 0.7%

Shares of HBAN opened at $15.84 on Monday. Huntington Bancshares Incorporated has a one year low of $11.92 and a one year high of $18.45. The stock has a market capitalization of $23.14 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 1.21 and a beta of 0.92. The stock has a 50 day moving average price of $15.21 and a 200 day moving average price of $15.68. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.89 and a current ratio of 0.90.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $1.89 billion. During the same period in the prior year, the business earned $0.27 earnings per share. Equities research analysts forecast 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 initiated a stock buyback program on Thursday, April 17th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the bank to buy up to 5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board believes its shares are undervalued.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be issued a dividend of $0.155 per share. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.91%. Huntington Bancshares's dividend payout ratio is currently 47.33%.

Insider Activity

In other news, VP Brantley J. Standridge sold 70,417 shares of the business's stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $13.69, for a total value of $964,008.73. Following the sale, the vice president now directly owns 326,456 shares of the company's stock, valued at approximately $4,469,182.64. The trade was a 17.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Zachary Jacob Wasserman sold 59,060 shares of the firm's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $14.36, for a total value of $848,101.60. Following the transaction, the chief financial officer now owns 277,348 shares of the company's stock, valued at $3,982,717.28. This trade represents a 17.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 215,096 shares of company stock valued at $3,060,286. 0.89% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on HBAN shares. Cowen initiated coverage on shares of Huntington Bancshares in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. Stephens reiterated an "equal weight" rating and issued a $16.50 price objective on shares of Huntington Bancshares in a research note on Monday, April 21st. Deutsche Bank Aktiengesellschaft raised shares of Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 target price for the company in a report on Thursday, April 24th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $18.00 price target (down from $20.00) on shares of Huntington Bancshares in a report on Monday, April 21st. Finally, Citigroup cut their price target on Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $18.08.

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.

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