Lansforsakringar Fondforvaltning AB publ Decreases Stock Holdings in Huntington Bancshares Incorporated $HBAN

Lansforsakringar Fondforvaltning AB publ reduced its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 95.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,622 shares of the bank’s stock after selling 350,485 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Huntington Bancshares were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in HBAN. MV Capital Management Inc. purchased a new stake in shares of Huntington Bancshares during the 4th quarter worth approximately $25,000. Palisade Asset Management LLC purchased a new position in Huntington Bancshares in the 3rd quarter valued at approximately $26,000. South Plains Financial Inc. increased its stake in Huntington Bancshares by 116.3% in the 3rd 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 acquired a new position in Huntington Bancshares during the fourth quarter worth $28,000. Finally, DV Equities LLC acquired a new position in Huntington Bancshares during the fourth quarter worth $38,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the sale, the executive vice president directly owned 267,859 shares in the company, valued at $4,821,462. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the business’s stock in a transaction that occurred on 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 position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have bought 33,500 shares of company stock valued at $617,542. Insiders own 0.67% of the company’s stock.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $17.86 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. Huntington Bancshares Incorporated has a 52-week low of $14.89 and a 52-week high of $19.45. The stock’s fifty day simple moving average is $16.60 and its 200-day simple moving average is $16.90. The company has a market capitalization of $36.20 billion, a P/E ratio of 13.74, a P/E/G ratio of 0.81 and a beta of 0.93.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. The business had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same quarter last year, the company earned $0.34 earnings per share. As a group, equities research analysts forecast that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

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

Analyst Ratings Changes

Several analysts have weighed in on HBAN shares. Wall Street Zen raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. cut their price target on Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating for the company in a research note on Thursday, April 30th. DA Davidson cut their price target on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, March 16th. Truist Financial decreased their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Finally, Wolfe Research lowered their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. One investment 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. Based on data from MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average target price of $20.15.

Huntington Bancshares Profile

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.