Generali Asset Management SPA SGR Cuts Stock Position in Huntington Bancshares Incorporated $HBAN
by Jessica Moore · The Cerbat GemGenerali Asset Management SPA SGR cut its position in Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report) by 89.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,131 shares of the bank’s stock after selling 77,465 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Huntington Bancshares were worth $158,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of HBAN. Family Legacy Financial Solutions LLC bought a new position in shares of Huntington Bancshares during the 2nd quarter worth approximately $25,000. MTM Investment Management LLC purchased a new position in Huntington Bancshares in the second quarter worth $25,000. Quarry LP increased its position in shares of Huntington Bancshares by 73.0% during the first quarter. Quarry LP now owns 1,929 shares of the bank’s stock worth $29,000 after purchasing an additional 814 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Huntington Bancshares during the 2nd quarter valued at $30,000. Finally, Trust Co. of Vermont lifted its holdings in shares of Huntington Bancshares by 249.8% during the 2nd quarter. Trust Co. of Vermont now owns 2,690 shares of the bank’s stock valued at $45,000 after purchasing an additional 1,921 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.
Huntington Bancshares Stock Performance
HBAN opened at $17.88 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.89. Huntington Bancshares Incorporated has a 12-month low of $11.91 and a 12-month high of $18.10. The firm has a 50 day moving average of $16.59 and a two-hundred day moving average of $16.77. The firm has a market capitalization of $26.09 billion, a PE ratio of 12.50, a P/E/G ratio of 0.58 and a beta of 0.95.
Huntington Bancshares (NASDAQ:HBAN – Get Free Report) last released its quarterly earnings data on Monday, December 1st. The bank reported $0.67 earnings per share for the quarter. Huntington Bancshares had a net margin of 18.06% and a return on equity of 12.14%. The firm had revenue of $580.00 million for the quarter. On average, analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.
Huntington Bancshares Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Thursday, December 18th were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Thursday, December 18th. Huntington Bancshares’s payout ratio is 43.36%.
Insider Buying and Selling
In other Huntington Bancshares news, EVP Marcy C. Hingst sold 12,832 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $18.00, for a total value of $230,976.00. Following the sale, the executive vice president owned 239,473 shares in the company, valued at approximately $4,310,514. This represents a 5.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Kendall A. Kowalski sold 2,481 shares of Huntington Bancshares stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $17.80, for a total transaction of $44,161.80. Following the transaction, the insider directly owned 71,566 shares of the company’s stock, valued at approximately $1,273,874.80. This trade represents a 3.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 87,863 shares of company stock worth $1,396,634 over the last ninety days. 0.89% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several brokerages recently issued reports on HBAN. Piper Sandler upped their target price on Huntington Bancshares from $15.00 to $16.00 and gave the company an “underweight” rating in a research report on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Wall Street Zen lowered shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. JPMorgan Chase & Co. boosted their target price on shares of Huntington Bancshares from $18.00 to $18.50 and gave the stock an “overweight” rating in a research report on Friday, October 10th. Finally, Zacks Research cut shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.97.
Check Out Our Latest Stock Report on Huntington Bancshares
Huntington Bancshares Profile
Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.
Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.
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