OP Asset Management Ltd Takes $3.31 Million Position in Huntington Bancshares Incorporated $HBAN

OP Asset Management Ltd bought a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 1st quarter, Holdings Channel reports. The firm bought 211,746 shares of the bank’s stock, valued at approximately $3,314,000.

Other large investors have also bought and sold shares of the company. Banque Cantonale Vaudoise raised its position in Huntington Bancshares by 13.1% in the 1st quarter. Banque Cantonale Vaudoise now owns 38,666 shares of the bank’s stock valued at $606,000 after purchasing an additional 4,467 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Huntington Bancshares by 964.0% during the first quarter. Assenagon Asset Management S.A. now owns 3,053,523 shares of the bank’s stock worth $47,788,000 after purchasing an additional 2,766,547 shares during the last quarter. Centennial Wealth Advisory LLC increased its stake in shares of Huntington Bancshares by 12.1% in the first quarter. Centennial Wealth Advisory LLC now owns 52,242 shares of the bank’s stock valued at $818,000 after buying an additional 5,639 shares in the last quarter. Cidel Asset Management Inc. increased its stake in shares of Huntington Bancshares by 48.0% in the first quarter. Cidel Asset Management Inc. now owns 15,221 shares of the bank’s stock valued at $238,000 after buying an additional 4,940 shares in the last quarter. Finally, HHM Wealth Advisors LLC raised its holdings in shares of Huntington Bancshares by 453.2% in the first quarter. HHM Wealth Advisors LLC now owns 5,715 shares of the bank’s stock valued at $89,000 after buying an additional 4,682 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on HBAN. Stephens began coverage on shares of Huntington Bancshares in a report on Monday, June 15th. They set an “equal weight” rating and a $19.00 price objective on the stock. Barclays lowered shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Weiss Ratings lowered shares of Huntington Bancshares from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 18th. Evercore restated an “outperform” rating and issued a $20.00 price objective on shares of Huntington Bancshares in a research report on Friday, June 12th. Finally, Wolfe Research reduced their price objective on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.05.

Insider Activity

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the transaction, the executive vice president owned 267,859 shares of the company’s stock, valued at approximately $4,821,462. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the transaction, the director directly owned 612,155 shares of the company’s stock, valued at approximately $10,620,889.25. The trade was a 26.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have bought a total of 33,500 shares of company stock worth $617,542 in the last quarter. 0.67% of the stock is currently owned by company insiders.

Huntington Bancshares Trading Down 0.6%

HBAN opened at $17.79 on Friday. The firm’s fifty day moving average is $16.50 and its two-hundred day moving average is $16.89. The firm has a market cap of $36.06 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 0.81 and a beta of 0.94. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. The business had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same quarter in the prior year, the company earned $0.34 EPS. Equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.62 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.69%.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.