LJI Wealth Management LLC Cuts Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

LJI Wealth Management LLC reduced its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 65.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,644 shares of the bank's stock after selling 28,157 shares during the period. LJI Wealth Management LLC's holdings in Huntington Bancshares were worth $220,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Huntington Bancshares during the fourth quarter valued at about $302,826,000. FMR LLC boosted its holdings in Huntington Bancshares by 36.9% during 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 boosted its holdings in 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 last quarter. Van Lanschot Kempen Investment Management N.V. boosted its holdings in Huntington Bancshares by 356.1% during the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 4,432,186 shares of the bank's stock worth $72,112,000 after purchasing an additional 3,460,328 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in Huntington Bancshares by 220.9% during the fourth quarter. National Bank of Canada FI now owns 3,666,949 shares of the bank's stock worth $59,661,000 after purchasing an additional 2,524,077 shares during the last quarter. 80.72% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 59,060 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $14.36, for a total value of $848,101.60. Following the completion of the transaction, the chief financial officer owned 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brantley J. Standridge sold 70,417 shares of the business's stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $13.69, for a total transaction of $964,008.73. Following the completion of the transaction, the vice president directly owned 326,456 shares of the company's stock, valued at approximately $4,469,182.64. This represents a 17.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 214,375 shares of company stock worth $3,049,277. 0.89% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HBAN. Keefe, Bruyette & Woods cut 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 report on Monday, April 21st. TD Cowen began coverage on shares of Huntington Bancshares in a report on Thursday, May 15th. They set a "buy" rating and a $20.00 price target on the stock. JPMorgan Chase & Co. cut their price target on shares of Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Wall Street Zen cut shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a research note on Sunday. Finally, Wolfe Research upgraded shares of 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. Two analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Huntington Bancshares currently has an average rating of "Moderate Buy" and an average price target of $18.48.

Huntington Bancshares Price Performance

Huntington Bancshares stock traded down $0.14 during midday trading on Tuesday, reaching $16.94. 26,456,033 shares of the stock were exchanged, compared to its average volume of 19,224,699. The company's fifty day moving average is $16.10 and its 200-day moving average is $15.70. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.89 and a current ratio of 0.90. The firm has a market cap of $24.74 billion, a PE ratio of 12.90, a PEG ratio of 1.32 and a beta of 0.93. Huntington Bancshares Incorporated has a 52 week low of $11.92 and a 52 week high of $18.45.

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

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

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th were paid a $0.155 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.66%. 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.