American International Group Inc. Reduces Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

American International Group Inc. cut its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 379,644 shares of the bank’s stock after selling 3,394 shares during the period. American International Group Inc.’s holdings in Huntington Bancshares were worth $4,829,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in HBAN. Wetzel Investment Advisors Inc. acquired a new position in Huntington Bancshares during the fourth quarter worth $29,000. Nemes Rush Group LLC increased its holdings in Huntington Bancshares by 140.9% in the fourth quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock valued at $30,000 after buying an additional 1,391 shares during the last quarter. Planned Solutions Inc. purchased a new position in Huntington Bancshares in the fourth quarter valued at $33,000. Baker Avenue Asset Management LP grew its holdings in shares of Huntington Bancshares by 31.8% during the third 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 during the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Huntington Bancshares by 184.0% during the fourth quarter. Allworth Financial LP now owns 4,007 shares of the bank’s stock worth $51,000 after purchasing an additional 2,596 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HBAN. Bank of America upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their target price for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. Jefferies Financial Group upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating and lifted their price target for the company from $14.00 to $16.00 in a research report on Monday, April 8th. Morgan Stanley reduced their price target on shares of Huntington Bancshares from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, June 12th. Stephens reissued an “equal weight” rating and set a $15.00 price objective on shares of Huntington Bancshares in a research note on Monday, April 22nd. Finally, UBS Group lowered their target price on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, June 13th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.13.

Insider Activity at Huntington Bancshares

In related news, insider Helga Houston sold 7,278 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $13.64, for a total transaction of $99,271.92. Following the completion of the sale, the insider now owns 648,904 shares of the company’s stock, valued at approximately $8,851,050.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Brantley J. Standridge sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total value of $680,000.00. Following the completion of the sale, the vice president now directly owns 385,409 shares of the company’s stock, valued at approximately $5,241,562.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Helga Houston sold 7,278 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $13.64, for a total transaction of $99,271.92. Following the completion of the sale, the insider now directly owns 648,904 shares of the company’s stock, valued at $8,851,050.56. The disclosure for this sale can be found here. Insiders sold a total of 157,829 shares of company stock valued at $2,148,623 in the last quarter. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $12.63 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $18.30 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 2.32 and a beta of 1.08. The firm’s fifty day simple moving average is $13.45 and its 200 day simple moving average is $13.11. Huntington Bancshares Incorporated has a twelve month low of $9.25 and a twelve month high of $14.30.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Friday, April 19th. The bank reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.74 billion. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. During the same quarter in the previous year, the business posted $0.38 EPS. As a group, equities research analysts expect that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be paid a $0.155 dividend. The ex-dividend date is Monday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.91%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

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.