LSV Asset Management Sells 25,300 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

LSV Asset Management decreased its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,064,351 shares of the bank’s stock after selling 25,300 shares during the period. LSV Asset Management’s holdings in Huntington Bancshares were worth $13,539,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wetzel Investment Advisors Inc. bought a new stake in shares of Huntington Bancshares during the 4th quarter valued at $29,000. Planned Solutions Inc. purchased a new stake in Huntington Bancshares in the fourth quarter worth about $33,000. Authentikos Wealth Advisory LLC bought a new position in shares of Huntington Bancshares during the third quarter valued at approximately $35,000. Baker Avenue Asset Management LP boosted its position in shares of Huntington Bancshares by 31.8% in the 3rd quarter. Baker Avenue Asset Management LP now owns 3,992 shares of the bank’s stock worth $42,000 after purchasing an additional 963 shares in the last quarter. Finally, Allworth Financial LP increased its position in Huntington Bancshares by 184.0% during the 4th quarter. Allworth Financial LP now owns 4,007 shares of the bank’s stock valued at $51,000 after buying an additional 2,596 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Down 0.5 %

NASDAQ HBAN opened at $13.85 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. Huntington Bancshares Incorporated has a 12 month low of $9.13 and a 12 month high of $14.07. The stock’s 50 day moving average is $13.48 and its 200 day moving average is $12.46. The stock has a market cap of $20.07 billion, a PE ratio of 12.48, a P/E/G ratio of 2.55 and a beta of 1.09.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. The company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the company posted $0.38 earnings per share. Research analysts predict that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend is Friday, June 14th. Huntington Bancshares’s payout ratio is 55.86%.

Insider Transactions at Huntington Bancshares

In related news, VP Rajeev Syal sold 11,627 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $13.67, for a total transaction of $158,941.09. Following the sale, the vice president now owns 329,607 shares of the company’s stock, valued at $4,505,727.69. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Ann B. Crane sold 58,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $13.54, for a total value of $785,320.00. Following the completion of the sale, the director now directly owns 192,247 shares in the company, valued at $2,603,024.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Rajeev Syal sold 11,627 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $13.67, for a total transaction of $158,941.09. Following the completion of the sale, the vice president now directly owns 329,607 shares of the company’s stock, valued at approximately $4,505,727.69. The disclosure for this sale can be found here. Insiders have sold 224,092 shares of company stock valued at $3,031,731 in the last ninety days. Corporate insiders own 0.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HBAN. DA Davidson raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their price objective for the company from $14.00 to $15.50 in a research report on Tuesday, February 27th. Morgan Stanley restated an “overweight” rating and issued a $16.00 price objective on shares of Huntington Bancshares in a report on Monday, April 22nd. Bank of America upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their target price for the company from $14.00 to $16.00 in a research note on Monday, April 8th. Citigroup boosted their price target on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Royal Bank of Canada increased their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.17.

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.