Handelsbanken Fonder AB Has $5.76 Million Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Handelsbanken Fonder AB decreased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 10.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 383,487 shares of the bank's stock after selling 44,358 shares during the quarter. Handelsbanken Fonder AB's holdings in Huntington Bancshares were worth $5,756,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Accurate Wealth Management LLC grew its holdings in Huntington Bancshares by 10.8% during the 1st quarter. Accurate Wealth Management LLC now owns 17,548 shares of the bank's stock valued at $263,000 after buying an additional 1,713 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Huntington Bancshares by 6.4% during the first quarter. GAMMA Investing LLC now owns 42,196 shares of the bank's stock valued at $633,000 after buying an additional 2,540 shares during the period. Tounjian Advisory Partners LLC acquired a new stake in Huntington Bancshares during the first quarter worth approximately $1,435,000. Pallas Capital Advisors LLC increased its stake in Huntington Bancshares by 142.1% during the first quarter. Pallas Capital Advisors LLC now owns 75,206 shares of the bank's stock worth $1,129,000 after acquiring an additional 44,138 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Huntington Bancshares by 129.8% during the first quarter. Farther Finance Advisors LLC now owns 28,301 shares of the bank's stock worth $423,000 after buying an additional 15,984 shares during the period. Institutional investors and hedge funds own 80.72% of the company's stock.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, VP Brendan A. Lawlor sold 3,521 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $15.25, for a total value of $53,695.25. Following the transaction, the vice president now directly owns 47,950 shares of the company's stock, valued at $731,237.50. This represents a 6.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kendall A. Kowalski sold 3,434 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $14.50, for a total value of $49,793.00. Following the completion of the transaction, the insider now directly owns 66,847 shares in the company, valued at $969,281.50. The trade was a 4.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold 204,917 shares of company stock valued at $2,897,659 in the last ninety days. 0.89% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HBAN. Citigroup lowered their target price on Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Morgan Stanley cut their target price on shares of Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Jefferies Financial Group initiated coverage on shares of Huntington Bancshares in a research report on Wednesday, May 21st. They issued a "buy" rating and a $20.00 target price for the company. Robert W. Baird upgraded shares of Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 target price for the company in a report on Friday, March 7th. Finally, Cowen started coverage on Huntington Bancshares in a report on Wednesday, May 14th. They issued a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Huntington Bancshares has a consensus rating of "Moderate Buy" and a consensus target price of $17.93.

Huntington Bancshares Price Performance

NASDAQ HBAN traded down $0.45 on Friday, reaching $15.51. The company's stock had a trading volume of 36,224,860 shares, compared to its average volume of 18,601,168. The firm has a market cap of $22.66 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 1.33 and a beta of 0.92. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. Huntington Bancshares Incorporated has a 52 week low of $11.92 and a 52 week high of $18.45. The business has a 50-day moving average price of $14.90 and a 200 day moving average price of $15.80.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its earnings results on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the business earned $0.27 EPS. Sell-side analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current 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 outstanding shares. This buyback authorization allows the bank to reacquire up to 5% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors 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. Shareholders of record on Tuesday, 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 4.00%. The ex-dividend date is Tuesday, June 17th. Huntington Bancshares's dividend payout ratio (DPR) is currently 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.