Assenagon Asset Management S.A. Trims Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Assenagon Asset Management S.A. trimmed its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 92.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,937 shares of the bank's stock after selling 687,608 shares during the period. Assenagon Asset Management S.A.'s holdings in Huntington Bancshares were worth $975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. State Street Corp increased its stake in Huntington Bancshares by 10.3% in the third quarter. State Street Corp now owns 79,474,115 shares of the bank's stock valued at $1,179,319,000 after purchasing an additional 7,439,909 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Huntington Bancshares by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank's stock valued at $921,778,000 after buying an additional 1,522,767 shares during the last quarter. Geode Capital Management LLC raised its stake in Huntington Bancshares by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank's stock worth $540,422,000 after acquiring an additional 473,893 shares in the last quarter. FMR LLC boosted its stake in Huntington Bancshares by 16.8% in the third quarter. FMR LLC now owns 23,719,168 shares of the bank's stock valued at $348,672,000 after acquiring an additional 3,410,597 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Huntington Bancshares by 13.2% in the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank's stock valued at $298,682,000 after acquiring an additional 2,363,988 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HBAN has been the topic of several research analyst reports. Piper Sandler cut their price target on Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating on the stock in a research report on Tuesday. Evercore ISI upped their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Citigroup raised their price objective on shares of Huntington Bancshares from $18.00 to $21.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $20.00 target price (up from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $20.00 price target on shares of Huntington Bancshares in a report on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.06.

Insider Activity at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 8,644 shares of the company's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the sale, the chief financial officer now directly owns 259,943 shares of the company's stock, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott D. Kleinman sold 28,600 shares of the firm's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the transaction, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is owned by insiders.

Huntington Bancshares Price Performance

Shares of HBAN traded up $0.30 during trading hours on Friday, reaching $17.20. 20,478,650 shares of the company traded hands, compared to its average volume of 14,545,722. The stock has a fifty day simple moving average of $17.00 and a 200 day simple moving average of $15.59. Huntington Bancshares Incorporated has a fifty-two week low of $12.05 and a fifty-two week high of $18.44. The stock has a market capitalization of $24.99 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 1.39 and a beta of 1.07. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period in the previous year, the company posted $0.27 earnings per share. As a group, research analysts predict that Huntington Bancshares Incorporated will post 1.4 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a $0.155 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.60%. Huntington Bancshares's dividend payout ratio is presently 50.41%.

Huntington Bancshares Company 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.