Assenagon Asset Management S.A. Boosts Stock Holdings in Huntington Bancshares Incorporated $HBAN

Assenagon Asset Management S.A. raised its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 50.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 286,976 shares of the bank’s stock after purchasing an additional 96,844 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Huntington Bancshares were worth $4,979,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Sagespring Wealth Partners LLC raised its stake in shares of Huntington Bancshares by 2.4% during the 4th quarter. Sagespring Wealth Partners LLC now owns 25,217 shares of the bank’s stock worth $438,000 after buying an additional 587 shares during the last quarter. Parcion Private Wealth LLC boosted its position in shares of Huntington Bancshares by 6.2% in the 3rd quarter. Parcion Private Wealth LLC now owns 11,081 shares of the bank’s stock worth $191,000 after buying an additional 648 shares in the last quarter. Strategic Planning Inc. grew its stake in Huntington Bancshares by 0.3% in the 3rd quarter. Strategic Planning Inc. now owns 199,318 shares of the bank’s stock valued at $3,442,000 after acquiring an additional 670 shares during the last quarter. Rehmann Capital Advisory Group increased its holdings in Huntington Bancshares by 4.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 16,881 shares of the bank’s stock valued at $292,000 after acquiring an additional 694 shares in the last quarter. Finally, Glenmede Investment Management LP increased its holdings in Huntington Bancshares by 1.7% during the 3rd quarter. Glenmede Investment Management LP now owns 43,702 shares of the bank’s stock valued at $755,000 after acquiring an additional 728 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Huntington Bancshares news, Director Gary Torgow bought 14,200 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, February 19th. The shares were purchased at an average cost of $17.81 per share, for a total transaction of $252,902.00. Following the completion of the transaction, the director owned 943,341 shares of the company’s stock, valued at $16,800,903.21. This represents a 1.53% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Scott D. Kleinman sold 65,530 shares of Huntington Bancshares stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $15.28, for a total value of $1,001,298.40. Following the completion of the sale, the vice president owned 481,676 shares of the company’s stock, valued at $7,360,009.28. This trade represents a 11.98% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders bought 27,700 shares of company stock valued at $540,401 and sold 108,986 shares valued at $1,785,958. 0.67% of the stock is owned by corporate insiders.

Huntington Bancshares Stock Down 2.3%

Shares of NASDAQ HBAN opened at $15.08 on Friday. The firm has a market cap of $30.72 billion, a P/E ratio of 10.85, a price-to-earnings-growth ratio of 0.61 and a beta of 0.95. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93. Huntington Bancshares Incorporated has a 1 year low of $11.91 and a 1 year high of $19.45. The firm’s 50 day moving average price is $16.98 and its 200 day moving average price is $16.86.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter last year, the firm posted $0.34 earnings per share. As a group, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.1%. The ex-dividend date is Wednesday, March 18th. Huntington Bancshares’s dividend payout ratio is presently 44.60%.

Analysts Set New Price Targets

HBAN has been the topic of several recent research reports. Zacks Research downgraded shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. National Bank Financial set a $21.00 price objective on shares of Huntington Bancshares in a research note on Wednesday, February 4th. JPMorgan Chase & Co. lifted their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Barclays upped their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. Finally, Evercore assumed coverage on Huntington Bancshares in a report on Tuesday, February 3rd. They set an “outperform” rating and a $21.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.63.

About Huntington Bancshares

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.