Amalgamated Bank Sells 26,677 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Amalgamated Bank reduced its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBANGet Rating) by 6.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 362,349 shares of the bank’s stock after selling 26,677 shares during the period. Amalgamated Bank’s holdings in Huntington Bancshares were worth $5,298,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of HBAN. Ninety One UK Ltd bought a new stake in Huntington Bancshares during the 1st quarter valued at $203,919,000. Norges Bank bought a new stake in Huntington Bancshares during the 4th quarter valued at $213,579,000. Invesco Ltd. raised its position in Huntington Bancshares by 25.7% during the 1st quarter. Invesco Ltd. now owns 38,854,627 shares of the bank’s stock valued at $568,053,000 after purchasing an additional 7,947,366 shares in the last quarter. BlackRock Inc. raised its position in Huntington Bancshares by 6.0% during the 1st quarter. BlackRock Inc. now owns 136,897,261 shares of the bank’s stock valued at $2,001,438,000 after purchasing an additional 7,774,643 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in Huntington Bancshares during the 1st quarter valued at $47,578,000. 79.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HBAN. Argus upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Thursday, July 28th. Wedbush downgraded Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $14.00 price target on the stock. in a report on Thursday, June 30th. Jefferies Financial Group cut their price target on Huntington Bancshares from $14.50 to $13.00 in a report on Monday, July 11th. The Goldman Sachs Group cut their price target on Huntington Bancshares from $17.50 to $14.50 and set a “buy” rating on the stock in a report on Tuesday, May 31st. Finally, Morgan Stanley dropped their target price on Huntington Bancshares from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 12th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.13.

Insider Activity

In other news, CFO Zachary Jacob Wasserman sold 11,618 shares of the business’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $14.36, for a total value of $166,834.48. Following the completion of the transaction, the chief financial officer now owns 230,394 shares of the company’s stock, valued at approximately $3,308,457.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Zachary Jacob Wasserman sold 11,618 shares of the company’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $14.36, for a total value of $166,834.48. Following the completion of the transaction, the chief financial officer now owns 230,394 shares of the company’s stock, valued at approximately $3,308,457.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary Torgow purchased 19,382 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, July 27th. The stock was acquired at an average cost of $12.90 per share, with a total value of $250,027.80. Following the acquisition, the director now directly owns 893,301 shares in the company, valued at approximately $11,523,582.90. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

Huntington Bancshares Stock Up 2.3 %

Huntington Bancshares stock opened at $14.03 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 0.82. The business’s 50-day simple moving average is $13.51 and its two-hundred day simple moving average is $13.54. The company has a market cap of $20.23 billion, a PE ratio of 12.53 and a beta of 1.18. Huntington Bancshares Incorporated has a fifty-two week low of $11.67 and a fifty-two week high of $17.79.

Huntington Bancshares (NASDAQ:HBANGet Rating) last posted its quarterly earnings results on Thursday, July 21st. The bank reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. Huntington Bancshares had a return on equity of 13.11% and a net margin of 25.58%. During the same quarter in the prior year, the firm posted $0.35 EPS. Equities analysts anticipate that Huntington Bancshares Incorporated will post 1.46 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 19th will be issued a $0.155 dividend. The ex-dividend date is Friday, September 16th. This represents a $0.62 annualized dividend and a dividend yield of 4.42%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.36%.

Huntington Bancshares Profile

(Get Rating)

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 operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).

Further Reading

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Institutional Ownership by Quarter for Huntington Bancshares (NASDAQ:HBAN)

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