Allspring Global Investments Holdings LLC Sells 9,155 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Allspring Global Investments Holdings LLC reduced its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 11.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 71,720 shares of the bank’s stock after selling 9,155 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Huntington Bancshares were worth $912,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Planned Solutions Inc. purchased a new position in Huntington Bancshares during the 4th quarter valued at about $33,000. Authentikos Wealth Advisory LLC purchased a new position in Huntington Bancshares during the third quarter valued at approximately $35,000. Baker Avenue Asset Management LP raised its stake in Huntington Bancshares by 31.8% in the third quarter. Baker Avenue Asset Management LP now owns 3,992 shares of the bank’s stock worth $42,000 after buying an additional 963 shares in the last quarter. Allworth Financial LP lifted its holdings in 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 buying an additional 2,596 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Huntington Bancshares during the third quarter worth $51,000. 80.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Ann B. Crane sold 58,000 shares of Huntington Bancshares stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $13.54, for a total value of $785,320.00. Following the completion of the transaction, the director now owns 192,247 shares in the company, valued at approximately $2,603,024.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Huntington Bancshares news, Director Ann B. Crane sold 58,000 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $13.54, for a total transaction of $785,320.00. Following the transaction, the director now directly owns 192,247 shares of the company’s stock, valued at $2,603,024.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Julie C. Tutkovics sold 15,541 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total transaction of $197,059.88. Following the completion of the transaction, the vice president now directly owns 303,455 shares in the company, valued at $3,847,809.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,241 shares of company stock valued at $1,360,359. Corporate insiders own 0.92% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. StockNews.com downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Friday, December 29th. Evercore ISI increased their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Keefe, Bruyette & Woods lifted their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Finally, Citigroup boosted their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Huntington Bancshares has an average rating of “Moderate Buy” and an average target price of $15.17.

Huntington Bancshares Price Performance

Shares of HBAN opened at $13.63 on Wednesday. The business’s 50-day moving average is $13.31 and its two-hundred day moving average is $12.21. The company has a market capitalization of $19.76 billion, a P/E ratio of 12.28, a P/E/G ratio of 2.47 and a beta of 1.11. Huntington Bancshares Incorporated has a fifty-two week low of $9.13 and a fifty-two week high of $14.07. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, April 19th. The bank reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the company earned $0.38 earnings per share. Research analysts predict that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.55%. The ex-dividend date is Monday, June 17th. Huntington Bancshares’s dividend 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.