Victory Capital Management Inc. Sells 961,328 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Victory Capital Management Inc. lowered its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,963,739 shares of the bank’s stock after selling 961,328 shares during the quarter. Victory Capital Management Inc. owned approximately 1.17% of Huntington Bancshares worth $215,779,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in HBAN. Boston Partners boosted its stake in Huntington Bancshares by 33.0% in the 3rd quarter. Boston Partners now owns 29,277,030 shares of the bank’s stock worth $304,439,000 after purchasing an additional 7,271,405 shares during the period. Qube Research & Technologies Ltd bought a new position in Huntington Bancshares in the 3rd quarter worth about $20,004,000. AQR Capital Management LLC raised its holdings in shares of Huntington Bancshares by 1,652.2% in the 3rd quarter. AQR Capital Management LLC now owns 1,806,333 shares of the bank’s stock valued at $18,786,000 after acquiring an additional 1,703,245 shares in the last quarter. Barclays PLC raised its holdings in shares of Huntington Bancshares by 31.6% in the 3rd quarter. Barclays PLC now owns 5,395,974 shares of the bank’s stock valued at $56,117,000 after acquiring an additional 1,296,978 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Huntington Bancshares by 26.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 6,109,368 shares of the bank’s stock valued at $63,537,000 after acquiring an additional 1,277,811 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

HBAN has been the topic of several recent analyst reports. Stephens reaffirmed an “equal weight” rating and issued a $15.00 price target on shares of Huntington Bancshares in a report on Monday, April 22nd. Keefe, Bruyette & Woods raised their price target on Huntington Bancshares from $14.00 to $15.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Royal Bank of Canada raised their price target on Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. DA Davidson raised Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price target for the company from $14.00 to $15.50 in a report on Tuesday, February 27th. Finally, Jefferies Financial Group raised Huntington Bancshares from a “hold” rating to a “buy” rating and raised their price target for the company from $14.00 to $16.00 in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average target price of $15.17.

Insiders Place Their Bets

In other Huntington Bancshares news, VP Julie C. Tutkovics sold 15,541 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total value of $197,059.88. Following the transaction, the vice president now directly owns 303,455 shares of the company’s stock, valued at approximately $3,847,809.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Zachary Jacob Wasserman sold 30,000 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total value of $409,800.00. Following the sale, the chief financial officer now directly owns 305,884 shares in the company, valued at approximately $4,178,375.44. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Julie C. Tutkovics sold 15,541 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total value of $197,059.88. Following the completion of the sale, the vice president now owns 303,455 shares in the company, valued at $3,847,809.40. The disclosure for this sale can be found here. Insiders have sold 196,754 shares of company stock valued at $2,655,350 in the last ninety days. Company insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Performance

Shares of NASDAQ HBAN opened at $13.65 on Thursday. 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 stock’s 50-day moving average is $13.39 and its 200 day moving average is $12.33. The stock has a market cap of $19.77 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 2.49 and a beta of 1.09. Huntington Bancshares Incorporated has a 1-year low of $9.13 and a 1-year high of $14.07.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, April 19th. The bank reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same period in the previous year, the firm earned $0.38 EPS. On average, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be paid a $0.155 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.62 dividend on an annualized basis and a yield of 4.54%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 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.