Voya Investment Management LLC Sells 36,048 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Voya Investment Management LLC reduced its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 420,542 shares of the bank's stock after selling 36,048 shares during the period. Voya Investment Management LLC's holdings in Huntington Bancshares were worth $6,842,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Arvest Bank Trust Division bought a new position in shares of Huntington Bancshares during the 3rd quarter worth about $2,381,000. National Bank of Canada FI raised its stake in Huntington Bancshares by 220.9% in the 4th quarter. National Bank of Canada FI now owns 3,666,949 shares of the bank's stock valued at $59,661,000 after acquiring an additional 2,524,077 shares during the period. Pictet Asset Management Holding SA grew its stake in Huntington Bancshares by 17.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 850,139 shares of the bank's stock valued at $13,832,000 after buying an additional 129,106 shares in the last quarter. Mediolanum International Funds Ltd purchased a new stake in Huntington Bancshares in the 4th quarter worth approximately $422,000. Finally, Donoghue Forlines LLC bought a new stake in shares of Huntington Bancshares during the 4th quarter valued at about $1,460,000. Institutional investors own 80.72% of the company's stock.

Insider Transactions at Huntington Bancshares

In other news, VP Brantley J. Standridge sold 70,417 shares of the firm's stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $13.69, for a total value of $964,008.73. Following the transaction, the vice president now directly owns 326,456 shares in the company, valued at $4,469,182.64. This trade represents a 17.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.38, for a total value of $552,925.38. Following the transaction, the chief financial officer now owns 335,538 shares in the company, valued at approximately $4,825,036.44. This trade represents a 10.28 % decrease in their position. 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 quarter. 0.89% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on HBAN shares. Morgan Stanley dropped their price objective on Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Robert W. Baird upgraded shares of Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 price target on the stock in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 price objective on the stock in a research report on Thursday, April 24th. Citigroup lowered their target price on Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $17.45.

Huntington Bancshares Stock Performance

Shares of NASDAQ HBAN traded up $0.46 during trading hours on Friday, reaching $15.08. The stock had a trading volume of 18,090,714 shares, compared to its average volume of 17,391,242. Huntington Bancshares Incorporated has a twelve month low of $11.92 and a twelve month high of $18.45. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The business's fifty day moving average is $14.45 and its two-hundred day moving average is $15.97. The company has a market cap of $22.03 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 1.33 and a beta of 0.89.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued 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. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter in the previous year, the company earned $0.27 EPS. As a group, research analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares declared that its board has initiated a share repurchase plan on Thursday, April 17th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the bank to purchase up to 5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.11%. Huntington Bancshares's payout ratio is currently 47.33%.

Huntington Bancshares 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.