Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 12.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,632,596 shares of the bank's stock after selling 512,262 shares during the quarter. Ameriprise Financial Inc. owned about 0.25% of Huntington Bancshares worth $59,158,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its stake in Huntington Bancshares by 6.9% in the third quarter. Principal Financial Group Inc. now owns 1,743,357 shares of the bank's stock valued at $25,627,000 after buying an additional 112,146 shares during the last quarter. Nordea Investment Management AB lifted its stake in Huntington Bancshares by 9.0% in the fourth quarter. Nordea Investment Management AB now owns 129,989 shares of the bank's stock valued at $2,127,000 after buying an additional 10,775 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Huntington Bancshares during the fourth quarter worth approximately $168,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Huntington Bancshares by 1.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 202,309 shares of the bank's stock worth $3,292,000 after purchasing an additional 2,932 shares during the last quarter. Finally, Czech National Bank raised its stake in shares of Huntington Bancshares by 6.5% during the fourth quarter. Czech National Bank now owns 314,999 shares of the bank's stock worth $5,125,000 after purchasing an additional 19,123 shares during the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 69,088 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the completion of the sale, the vice president now directly owns 453,129 shares in the company, valued at approximately $6,647,402.43. The trade was a 13.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kendall A. Kowalski sold 3,434 shares of the business'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 sale, the insider now owns 66,847 shares of the company's stock, valued at $969,281.50. This trade represents a 4.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 312,456 shares of company stock worth $4,464,105 in the last 90 days. 0.89% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on HBAN shares. Robert W. Baird upgraded Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 price target for the company in a research note on Friday, March 7th. Piper Sandler cut their price objective on Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating for the company in a research report on Tuesday, January 21st. Citigroup cut their price objective on Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Raymond James reissued a "strong-buy" rating and issued a $18.00 target price (down previously from $20.00) on shares of Huntington Bancshares in a report on Monday, April 21st. Finally, Keefe, Bruyette & Woods decreased their price objective on Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Huntington Bancshares currently has an average rating of "Moderate Buy" and a consensus target price of $17.45.

Huntington Bancshares Stock Performance

Shares of NASDAQ:HBAN remained flat at $16.09 during mid-day trading on Wednesday. The company had a trading volume of 21,159,944 shares, compared to its average volume of 17,676,329. The firm has a market capitalization of $23.50 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 1.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares Incorporated has a 1-year low of $11.92 and a 1-year high of $18.45. The stock's 50-day moving average price is $14.38 and its 200 day moving average price is $15.96.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its earnings results on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the business posted $0.27 EPS. Equities research analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares declared that its board has initiated a share buyback plan on Thursday, April 17th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the bank to reacquire up to 5% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.85%. Huntington Bancshares's dividend payout ratio (DPR) 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.