Forsta AP Fonden Sells 35,500 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Forsta AP Fonden decreased its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 10.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 305,200 shares of the bank’s stock after selling 35,500 shares during the quarter. Forsta AP Fonden’s holdings in Huntington Bancshares were worth $4,023,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of HBAN. Norges Bank acquired a new position in Huntington Bancshares during the 4th quarter valued at approximately $206,703,000. Boston Partners increased its stake in Huntington Bancshares by 20.4% during the 1st quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock valued at $783,215,000 after purchasing an additional 9,533,511 shares in the last quarter. KBC Group NV increased its stake in shares of Huntington Bancshares by 715.0% in the fourth quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock worth $54,081,000 after acquiring an additional 3,729,974 shares during the period. National Bank of Canada FI increased its stake in shares of Huntington Bancshares by 832.7% in the first quarter. National Bank of Canada FI now owns 3,337,625 shares of the bank’s stock worth $46,927,000 after acquiring an additional 2,979,768 shares during the period. Finally, Scout Investments Inc. acquired a new stake in shares of Huntington Bancshares in the first quarter worth $35,428,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Buying and Selling

In related news, VP Nancy E. Maloney sold 57,537 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total transaction of $871,685.55. Following the completion of the sale, the vice president now directly owns 69,595 shares in the company, valued at $1,054,364.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 33,000 shares of Huntington Bancshares stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the sale, the chief financial officer now directly owns 265,809 shares in the company, valued at $4,021,690.17. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Nancy E. Maloney sold 57,537 shares of Huntington Bancshares stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total transaction of $871,685.55. Following the sale, the vice president now owns 69,595 shares of the company’s stock, valued at $1,054,364.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,622 shares of company stock worth $1,762,904. Insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on HBAN shares. Robert W. Baird lowered shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research note on Friday, July 26th. StockNews.com downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Monday, September 2nd. Royal Bank of Canada increased their price target on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Morgan Stanley increased their price target on shares of Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Argus increased their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.59.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $14.38 on Friday. The firm has a 50-day simple moving average of $14.21 and a 200-day simple moving average of $13.68. The stock has a market capitalization of $20.84 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 2.90 and a beta of 1.05. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. Huntington Bancshares Incorporated has a 52 week low of $9.25 and a 52 week high of $15.24.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.02. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same period last year, the business earned $0.35 earnings per share. On average, equities analysts predict that Huntington Bancshares Incorporated will post 1.19 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.31%. The ex-dividend date is Tuesday, September 17th. Huntington Bancshares’s payout ratio is currently 55.86%.

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.