Teza Capital Management LLC Sells 104,728 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Teza Capital Management LLC reduced its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 88.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,388 shares of the bank’s stock after selling 104,728 shares during the period. Teza Capital Management LLC’s holdings in Huntington Bancshares were worth $218,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. National Bank of Canada FI boosted its holdings in shares of Huntington Bancshares by 220.9% during the 4th quarter. National Bank of Canada FI now owns 3,666,949 shares of the bank’s stock valued at $59,661,000 after buying an additional 2,524,077 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in Huntington Bancshares by 17.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 850,139 shares of the bank’s stock valued at $13,832,000 after acquiring an additional 129,106 shares during the period. Mediolanum International Funds Ltd bought a new stake in Huntington Bancshares during the fourth quarter worth about $422,000. Donoghue Forlines LLC purchased a new stake in Huntington Bancshares in the fourth quarter worth about $1,460,000. Finally, Fisher Asset Management LLC purchased a new stake in Huntington Bancshares in the fourth quarter worth about $189,000. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Performance

HBAN stock opened at $15.32 on Thursday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a 1 year low of $11.92 and a 1 year high of $18.45. The company has a market cap of $22.38 billion, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The stock’s fifty day moving average price is $14.54 and its 200-day moving average price is $15.97.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same period last year, the firm posted $0.27 earnings per share. On average, equities analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares announced that its board has approved a share repurchase program on Thursday, April 17th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the bank to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 annualized dividend and a yield of 4.05%. Huntington Bancshares’s dividend payout ratio (DPR) is 47.33%.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, VP Brendan A. Lawlor sold 3,521 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $15.25, for a total value of $53,695.25. Following the completion of the sale, the vice president now owns 47,950 shares in the company, valued at $731,237.50. This represents a 6.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of Huntington Bancshares stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.38, for a total value of $552,925.38. Following the transaction, the chief financial officer now directly owns 335,538 shares in the company, valued at approximately $4,825,036.44. The trade was a 10.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 312,456 shares of company stock valued at $4,464,105. Insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. TD Cowen assumed coverage on shares of Huntington Bancshares in a report on Thursday, May 15th. They set a “buy” rating and a $20.00 target price for the company. JPMorgan Chase & Co. lowered their price objective on Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. Deutsche Bank Aktiengesellschaft raised Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.50 target price on the stock in a research note on Thursday, April 24th. Royal Bank of Canada lowered their price target on Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. Finally, Robert W. Baird upgraded shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price target on the stock in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.83.

Huntington Bancshares 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.