Lansforsakringar Fondforvaltning AB publ Sells 15,413 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• Lansforsakringar Fondforvaltning AB has reduced its holdings in Huntington Bancshares by 8.9%, now owning 157,402 shares valued at approximately $2.36 million.
• Analysts show varied opinions on Huntington Bancshares, with Wolfe Research upgrading the stock to "outperform," while Wall Street Zen downgraded it to "sell," reflecting mixed market sentiment.
• Huntington Bancshares announced a quarterly dividend of $0.155 per share, yielding approximately 3.5%, to be paid on October 1st.

Lansforsakringar Fondforvaltning AB publ decreased its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 157,402 shares of the bank's stock after selling 15,413 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in Huntington Bancshares were worth $2,363,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in HBAN. Invesco Ltd. boosted its holdings in Huntington Bancshares by 8.7% in the first quarter. Invesco Ltd. now owns 57,186,593 shares of the bank's stock valued at $858,371,000 after acquiring an additional 4,586,607 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in 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 valued at $114,684,000 after acquiring an additional 3,938,769 shares during the last quarter. Nuveen LLC bought a new position in Huntington Bancshares in the first quarter valued at about $50,078,000. Deutsche Bank AG boosted its holdings in Huntington Bancshares by 47.7% in the first quarter. Deutsche Bank AG now owns 8,870,393 shares of the bank's stock valued at $133,145,000 after acquiring an additional 2,865,727 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Huntington Bancshares by 3,352.7% in the first quarter. Assenagon Asset Management S.A. now owns 2,069,450 shares of the bank's stock valued at $31,062,000 after acquiring an additional 2,009,513 shares during the last quarter. Institutional investors own 80.72% of the company's stock.

Huntington Bancshares Stock Up 1.5%

Shares of HBAN traded up $0.27 on Thursday, hitting $17.88. The company's stock had a trading volume of 35,999,154 shares, compared to its average volume of 25,646,330. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The firm's fifty day moving average price is $16.91 and its 200-day moving average price is $15.73. Huntington Bancshares Incorporated has a fifty-two week low of $11.91 and a fifty-two week high of $18.44. The firm has a market capitalization of $26.08 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 0.91 and a beta of 0.97.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th will be issued a dividend of $0.155 per share. The ex-dividend date is Wednesday, September 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. Huntington Bancshares's dividend payout ratio (DPR) is presently 45.93%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Cowen began coverage on Huntington Bancshares in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. Raymond James Financial reissued a "strong-buy" rating and issued a $21.00 target price (up previously from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. Citigroup increased their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Wolfe Research raised Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 target price on the stock in a research note on Thursday, July 3rd. Finally, TD Cowen began coverage on Huntington Bancshares in a research note on Thursday, May 15th. They issued a "buy" rating and a $20.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.74.

Insider Activity

In related news, EVP Marcy C. Hingst sold 13,700 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $15.79, for a total transaction of $216,323.00. Following the completion of the transaction, the executive vice president directly owned 337,879 shares in the company, valued at approximately $5,335,109.41. This trade represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.89% of the company's stock.

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.