Victory Capital Management Inc. Decreases Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Victory Capital Management Inc. trimmed its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 5.4% during the 4th quarter, Holdings Channel reports. The fund owned 16,963,739 shares of the bank’s stock after selling 961,328 shares during the period. Victory Capital Management Inc.’s holdings in Huntington Bancshares were worth $215,779,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wetzel Investment Advisors Inc. purchased a new stake in shares of Huntington Bancshares during the 4th quarter worth approximately $29,000. Planned Solutions Inc. purchased a new stake in shares of Huntington Bancshares during the 4th quarter worth approximately $33,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of Huntington Bancshares during the 3rd quarter worth approximately $35,000. Baker Avenue Asset Management LP raised its holdings in shares of Huntington Bancshares by 31.8% during the 3rd quarter. Baker Avenue Asset Management LP now owns 3,992 shares of the bank’s stock worth $42,000 after acquiring an additional 963 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Huntington Bancshares during the 3rd quarter valued at approximately $51,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Price Performance

Shares of HBAN stock opened at $13.65 on Thursday. Huntington Bancshares Incorporated has a twelve month low of $9.13 and a twelve month high of $14.07. The stock has a market capitalization 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. The stock has a fifty day simple moving average of $13.39 and a two-hundred day simple moving average of $12.33. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, April 19th. The bank reported $0.28 earnings per share 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 business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the business earned $0.38 EPS. On average, analysts predict that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.54%. The ex-dividend date is Friday, June 14th. Huntington Bancshares’s dividend payout ratio is 55.86%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HBAN shares. Stephens reissued an “equal weight” rating and set a $15.00 target price on shares of Huntington Bancshares in a research report on Monday, April 22nd. Citigroup boosted their target price on Huntington Bancshares from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. boosted their target price on Huntington Bancshares from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. Bank of America raised Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their target price for the company from $14.00 to $16.00 in a research report on Monday, April 8th. Finally, UBS Group raised Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their target price for the company from $14.00 to $15.00 in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average price target of $15.17.

Insiders Place Their Bets

In other Huntington Bancshares news, VP Julie C. Tutkovics sold 15,541 shares of the company’s stock in a transaction 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 directly owns 303,455 shares in the company, valued at approximately $3,847,809.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Kendall A. Kowalski sold 15,948 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $13.47, for a total transaction of $214,819.56. Following the completion of the sale, the insider now directly owns 21,102 shares in the company, valued at approximately $284,243.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Julie C. Tutkovics sold 15,541 shares of the company’s stock in a transaction 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 sale, the vice president now owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 196,754 shares of company stock worth $2,655,350. 0.89% of the stock is currently owned by company insiders.

About Huntington Bancshares

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.