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

Amalgamated Bank lessened its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 7.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 382,693 shares of the bank’s stock after selling 31,143 shares during the quarter. Amalgamated Bank’s holdings in Huntington Bancshares were worth $5,044,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HBAN. Future Financial Wealth Managment LLC purchased a new stake in Huntington Bancshares in the 1st quarter worth approximately $29,000. YHB Investment Advisors Inc. acquired a new position in shares of Huntington Bancshares during the 1st quarter valued at about $30,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of Huntington Bancshares by 695.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after acquiring an additional 2,003 shares during the period. Register Financial Advisors LLC acquired a new stake in shares of Huntington Bancshares in the first quarter worth approximately $40,000. Finally, ORG Partners LLC increased its position in Huntington Bancshares by 354.9% during the second quarter. ORG Partners LLC now owns 3,325 shares of the bank’s stock worth $44,000 after purchasing an additional 2,594 shares during the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods cut their target price on Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. StockNews.com downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, September 2nd. Citigroup raised their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Royal Bank of Canada upped their price target on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Finally, Baird R W lowered Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, six have assigned 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $15.59.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $14.86 on Friday. The stock has a market capitalization of $21.54 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 2.90 and a beta of 1.05. Huntington Bancshares Incorporated has a one year low of $9.25 and a one year high of $15.24. The company’s 50-day simple moving average is $14.34 and its 200-day simple moving average is $13.73. 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 issued its earnings results on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same period in the prior year, the company earned $0.35 earnings per share. Equities analysts anticipate that Huntington Bancshares Incorporated will post 1.19 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.17%. Huntington Bancshares’s dividend payout ratio is currently 55.86%.

Insider Buying and Selling at Huntington Bancshares

In related news, VP Nancy E. Maloney sold 57,537 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total value of $871,685.55. Following the completion of the sale, the vice president now owns 69,595 shares of the company’s stock, valued at $1,054,364.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Brendan A. Lawlor sold 9,050 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $167,331.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total transaction of $871,685.55. Following the completion of the sale, the vice president now owns 69,595 shares in the company, valued at $1,054,364.25. The disclosure for this sale can be found here. Insiders sold 116,622 shares of company stock valued at $1,762,904 in the last ninety days. Company insiders own 0.89% of the company’s stock.

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.