Panagora Asset Management Inc. Trims Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Panagora Asset Management Inc. reduced its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 25.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 38,932 shares of the bank’s stock after selling 13,053 shares during the quarter. Panagora Asset Management Inc.’s holdings in Huntington Bancshares were worth $513,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Huntington Bancshares by 20.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 799,804 shares of the bank’s stock valued at $10,541,000 after acquiring an additional 133,550 shares during the period. Arkadios Wealth Advisors boosted its position in shares of Huntington Bancshares by 70.8% in the second quarter. Arkadios Wealth Advisors now owns 30,627 shares of the bank’s stock worth $404,000 after purchasing an additional 12,697 shares during the period. HB Wealth Management LLC increased its stake in shares of Huntington Bancshares by 6.5% in the second quarter. HB Wealth Management LLC now owns 28,931 shares of the bank’s stock worth $381,000 after purchasing an additional 1,777 shares in the last quarter. Kintegral Advisory LLC raised its position in shares of Huntington Bancshares by 21.9% during the 2nd quarter. Kintegral Advisory LLC now owns 162,614 shares of the bank’s stock valued at $2,164,000 after purchasing an additional 29,264 shares during the period. Finally, WealthShield Partners LLC lifted its stake in shares of Huntington Bancshares by 5.9% during the 2nd quarter. WealthShield Partners LLC now owns 12,237 shares of the bank’s stock valued at $163,000 after buying an additional 683 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $14.78 on Wednesday. The firm has a market capitalization of $21.47 billion, a PE ratio of 13.32, a PEG ratio of 3.05 and a beta of 1.06. The stock’s fifty day moving average is $13.98 and its 200 day moving average is $13.60. Huntington Bancshares Incorporated has a fifty-two week low of $9.25 and a fifty-two week high of $15.24. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89.

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

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be given a dividend of $0.155 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.19%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on HBAN shares. Citigroup increased their price target on Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Baird R W downgraded Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Piper Sandler upped their price target on Huntington Bancshares from $11.50 to $13.50 and gave the stock an “underweight” rating in a research note on Monday, July 22nd. Royal Bank of Canada lifted their price objective on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Finally, Jefferies Financial Group lowered their target price on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. 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.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.59.

Insider Transactions at Huntington Bancshares

In related news, VP Brendan A. Lawlor sold 9,050 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.06, for a total transaction of $136,293.00. Following the completion of the transaction, the vice president now owns 11,111 shares in the company, valued at approximately $167,331.66. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Brendan A. Lawlor sold 9,050 shares of Huntington Bancshares stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.06, for a total transaction of $136,293.00. Following the completion of the sale, the vice president now directly owns 11,111 shares in the company, valued at $167,331.66. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kendall A. Kowalski sold 5,747 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $14.98, for a total transaction of $86,090.06. Following the completion of the transaction, the insider now owns 65,899 shares in the company, valued at $987,167.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,622 shares of company stock worth $1,762,904. 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.