Amalgamated Bank Trims Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Amalgamated Bank lowered its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 2.2% during the fourth quarter, Holdings Channel reports. The fund owned 365,328 shares of the bank’s stock after selling 8,355 shares during the quarter. Amalgamated Bank’s holdings in Huntington Bancshares were worth $4,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Wetzel Investment Advisors Inc. acquired a new position in shares of Huntington Bancshares in the fourth quarter worth about $29,000. Planned Solutions Inc. acquired a new position in Huntington Bancshares in the 4th quarter worth about $33,000. Authentikos Wealth Advisory LLC purchased a new position in Huntington Bancshares during the third quarter worth approximately $35,000. Baker Avenue Asset Management LP grew its holdings 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 valued at $42,000 after purchasing an additional 963 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Huntington Bancshares in the third quarter valued at approximately $51,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $13.85 on Wednesday. The firm has a market cap of $20.07 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 2.55 and a beta of 1.09. Huntington Bancshares Incorporated has a 1 year low of $9.13 and a 1 year high of $14.07. The stock’s 50-day moving average is $13.48 and its two-hundred day moving average is $12.46. 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 quarterly earnings data on Friday, April 19th. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same period in the prior year, the business earned $0.38 EPS. 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 declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend is Friday, June 14th. Huntington Bancshares’s dividend payout ratio (DPR) is 55.86%.

Wall Street Analyst Weigh In

Several brokerages recently commented on HBAN. Keefe, Bruyette & Woods boosted their price target on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. DA Davidson raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price target for the company from $14.00 to $15.50 in a research note on Tuesday, February 27th. Stephens reiterated an “equal weight” rating and set a $15.00 price objective on shares of Huntington Bancshares in a research note on Monday, April 22nd. JPMorgan Chase & Co. raised 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. Finally, Morgan Stanley reiterated an “overweight” rating and set a $16.00 price target on shares of Huntington Bancshares in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.17.

Insider Buying and Selling

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total transaction of $409,800.00. Following the completion of the transaction, the chief financial officer now directly owns 305,884 shares in the company, valued at approximately $4,178,375.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Ann B. Crane sold 58,000 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $13.54, for a total transaction of $785,320.00. Following the sale, the director now owns 192,247 shares of the company’s stock, valued at $2,603,024.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 30,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total transaction of $409,800.00. Following the completion of the transaction, the chief financial officer now directly owns 305,884 shares of the company’s stock, valued at approximately $4,178,375.44. The disclosure for this sale can be found here. Insiders have sold a total of 224,092 shares of company stock worth $3,031,731 in the last quarter. Company insiders own 0.92% of the company’s stock.

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.