Assenagon Asset Management S.A. Increases Stock Position in Huntington Bancshares Incorporated $HBAN

Assenagon Asset Management S.A. grew its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 964.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,053,523 shares of the bank’s stock after buying an additional 2,766,547 shares during the period. Assenagon Asset Management S.A.’s holdings in Huntington Bancshares were worth $47,788,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. MV Capital Management Inc. purchased a new position in Huntington Bancshares in the fourth quarter worth $25,000. Palisade Asset Management LLC bought a new position in Huntington Bancshares in the third quarter valued at $26,000. South Plains Financial Inc. raised its position in Huntington Bancshares by 116.3% during the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after purchasing an additional 826 shares in the last quarter. Centennial Bank AR purchased a new stake in Huntington Bancshares during the fourth quarter valued at about $28,000. Finally, Accredited Wealth Management LLC lifted its stake in Huntington Bancshares by 374.5% during the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock worth $29,000 after purchasing an additional 1,322 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Insider Activity

In other news, Director James D. Rollins III sold 223,522 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were 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. This represents a 26.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have bought a total of 33,500 shares of company stock valued at $617,542 in the last 90 days. 0.67% of the stock is currently owned by insiders.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock opened at $17.90 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. Huntington Bancshares Incorporated has a one year low of $14.89 and a one year high of $19.45. The business’s 50 day simple moving average is $16.48 and its two-hundred day simple moving average is $16.88. The stock has a market capitalization of $36.29 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 0.80 and a beta of 0.94.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The firm had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. Analysts forecast that Huntington Bancshares Incorporated will post 1.61 EPS for the current year.

Huntington Bancshares Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on HBAN shares. Wall Street Zen upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. The Goldman Sachs Group cut their target price on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Evercore reissued an “outperform” rating and set a $20.00 price target on shares of Huntington Bancshares in a research note on Friday, June 12th. Wolfe Research lowered their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Finally, Barclays cut shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.05.

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.