MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Cuts Stock Position in Huntington Bancshares Incorporated $HBAN

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH has reduced its stake in Huntington Bancshares by 58.5%, now holding 91,624 shares worth approximately $1.54 million.
• Several hedge funds, including AQR Capital Management and Invesco Ltd., have significantly increased their holdings in Huntington Bancshares during the first quarter.
• Huntington Bancshares recently declared a quarterly dividend of $0.155, representing an annual dividend yield of 3.6%.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lessened its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 58.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 91,624 shares of the bank's stock after selling 129,286 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Huntington Bancshares were worth $1,536,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. AQR Capital Management LLC grew its holdings in Huntington Bancshares by 274.9% during the 1st quarter. AQR Capital Management LLC now owns 10,758,669 shares of the bank's stock valued at $157,292,000 after purchasing an additional 7,889,004 shares in the last quarter. Invesco Ltd. grew its holdings in Huntington Bancshares by 8.7% during the 1st quarter. Invesco Ltd. now owns 57,186,593 shares of the bank's stock valued at $858,371,000 after purchasing an additional 4,586,607 shares in the last quarter. Amundi grew its holdings in Huntington Bancshares by 26.2% during the 1st quarter. Amundi now owns 22,011,639 shares of the bank's stock valued at $330,395,000 after purchasing an additional 4,576,432 shares in the last quarter. Nuveen LLC acquired a new stake in Huntington Bancshares during the 1st quarter valued at $50,078,000. Finally, Deutsche Bank AG grew its holdings in Huntington Bancshares by 47.7% during the 1st quarter. Deutsche Bank AG now owns 8,870,393 shares of the bank's stock valued at $133,145,000 after purchasing an additional 2,865,727 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company's stock.

Insider Activity at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 41,100 shares of Huntington Bancshares stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $18.00, for a total value of $739,800.00. Following the completion of the transaction, the executive vice president directly owned 299,361 shares of the company's stock, valued at approximately $5,388,498. The trade was a 12.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.89% of the company's stock.

Huntington Bancshares Trading Down 0.3%

NASDAQ HBAN opened at $17.32 on Friday. Huntington Bancshares Incorporated has a one year low of $11.91 and a one year high of $18.44. The company has a 50-day simple moving average of $17.06 and a 200-day simple moving average of $15.91. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $25.27 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 0.84 and a beta of 0.97.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 17th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.6%. Huntington Bancshares's payout ratio is 45.93%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on HBAN shares. Wall Street Zen lowered shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. DA Davidson raised their price objective on shares of Huntington Bancshares from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Citigroup raised their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Friday, September 19th. Raymond James Financial reissued a "strong-buy" rating and set a $21.00 price objective (up from $18.00) on shares of Huntington Bancshares in a report on Tuesday, July 8th. Finally, Truist Financial raised their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $18.89.

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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