Securian Asset Management Inc. Sells 1,973 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Securian Asset Management Inc. reduced its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 2.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 83,332 shares of the bank’s stock after selling 1,973 shares during the quarter. Securian Asset Management Inc.’s holdings in Huntington Bancshares were worth $1,098,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Boston Partners grew its position in shares of Huntington Bancshares by 59.3% in the fourth quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock valued at $593,408,000 after purchasing an additional 17,365,446 shares during the last quarter. Norges Bank bought a new position in Huntington Bancshares in the 4th quarter worth approximately $206,703,000. KBC Group NV grew its holdings in Huntington Bancshares by 715.0% during the 4th quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock worth $54,081,000 after acquiring an additional 3,729,974 shares during the period. National Bank of Canada FI grew its holdings in Huntington Bancshares by 832.7% during the 1st quarter. National Bank of Canada FI now owns 3,337,625 shares of the bank’s stock worth $46,927,000 after acquiring an additional 2,979,768 shares during the period. Finally, Scout Investments Inc. acquired a new stake in Huntington Bancshares during the 1st quarter worth $35,428,000. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Stock Performance

HBAN traded down $0.23 during midday trading on Monday, reaching $13.38. The company had a trading volume of 7,914,015 shares, compared to its average volume of 17,340,006. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. The stock has a market cap of $19.39 billion, a PE ratio of 12.22, a P/E/G ratio of 2.94 and a beta of 1.06. Huntington Bancshares Incorporated has a 12-month low of $9.25 and a 12-month high of $15.24. The business has a 50-day moving average price of $13.49 and a two-hundred day moving average price of $13.41.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same period in the previous year, the company earned $0.35 earnings per share. On average, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.19 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date is Tuesday, September 17th. Huntington Bancshares’s payout ratio is currently 55.86%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, VP Brendan A. Lawlor sold 9,050 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.06, for a total value of $136,293.00. Following the sale, the vice president now directly owns 11,111 shares in the company, valued at approximately $167,331.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Helga Houston sold 11,288 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $15.02, for a total transaction of $169,545.76. Following the transaction, the insider now owns 618,832 shares of the company’s stock, valued at approximately $9,294,856.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Brendan A. Lawlor sold 9,050 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $15.06, for a total transaction of $136,293.00. Following the transaction, the vice president now directly owns 11,111 shares in the company, valued at approximately $167,331.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 123,900 shares of company stock worth $1,862,176. 0.89% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HBAN. Morgan Stanley lifted their target price on shares of Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Stephens reaffirmed an “equal weight” rating and set a $15.00 target price on shares of Huntington Bancshares in a report on Monday, April 22nd. Bank of America lifted their target price on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Baird R W lowered shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada boosted their price target on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.59.

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.