Swedbank AB Reduces Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Swedbank AB lessened its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.5% in the third quarter, Holdings Channel reports. The institutional investor owned 391,350 shares of the bank’s stock after selling 2,099 shares during the quarter. Swedbank AB’s holdings in Huntington Bancshares were worth $5,753,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of HBAN. Asset Dedication LLC increased its holdings in Huntington Bancshares by 200.7% during the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after acquiring an additional 1,202 shares during the period. Peoples Bank KS purchased a new position in shares of Huntington Bancshares during the 3rd quarter valued at $29,000. Hazlett Burt & Watson Inc. increased its holdings in shares of Huntington Bancshares by 695.5% in the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after purchasing an additional 2,003 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in shares of Huntington Bancshares in the third quarter worth $31,000. Finally, Fortitude Family Office LLC bought a new stake in Huntington Bancshares during the third quarter valued at $32,000. 80.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the sale, the insider now directly owns 558,342 shares of the company’s stock, valued at $8,615,217.06. This represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the transaction, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at $4,582,795.09. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,699 shares of company stock worth $757,356 over the last three months. Company insiders own 0.92% of the company’s stock.

Analyst Ratings Changes

HBAN has been the topic of several research analyst reports. Morgan Stanley upped their price objective on shares of Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $17.00 price objective on shares of Huntington Bancshares in a report on Friday, October 18th. Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. Finally, Evercore ISI lifted their price target on Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.62.

Huntington Bancshares Trading Down 0.8 %

NASDAQ HBAN opened at $18.00 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. Huntington Bancshares Incorporated has a fifty-two week low of $10.73 and a fifty-two week high of $18.44. The stock has a market cap of $26.15 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 3.63 and a beta of 1.03. The stock has a 50 day simple moving average of $15.86 and a two-hundred day simple moving average of $14.53.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the firm posted $0.36 earnings per share. On average, analysts forecast that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s payout ratio is currently 59.62%.

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.