Voya Investment Management LLC Decreases Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Voya Investment Management LLC lowered its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 7.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 420,542 shares of the bank’s stock after selling 36,048 shares during the period. Voya Investment Management LLC’s holdings in Huntington Bancshares were worth $6,842,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in HBAN. Creative Capital Management Investments LLC increased its stake in Huntington Bancshares by 17,533.3% during the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock worth $26,000 after buying an additional 1,578 shares during the period. Y.D. More Investments Ltd grew its stake in shares of Huntington Bancshares by 126.8% during the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock valued at $30,000 after acquiring an additional 1,023 shares in the last quarter. Midwest Capital Advisors LLC purchased a new stake in shares of Huntington Bancshares during the fourth quarter worth about $37,000. Transce3nd LLC acquired a new position in shares of Huntington Bancshares in the fourth quarter worth about $48,000. Finally, Asset Dedication LLC boosted its holdings in Huntington Bancshares by 70.0% in the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock valued at $50,000 after purchasing an additional 1,260 shares during the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Scott D. Kleinman sold 69,088 shares of Huntington Bancshares stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the transaction, the vice president now directly owns 453,129 shares of the company’s stock, valued at $6,647,402.43. The trade was a 13.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brantley J. Standridge sold 70,417 shares of the company’s stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $13.69, for a total transaction of $964,008.73. Following the completion of the sale, the vice president now directly owns 326,456 shares of the company’s stock, valued at $4,469,182.64. The trade was a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 211,051 shares of company stock worth $2,992,685. 0.89% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on HBAN shares. Citigroup dropped their price objective on Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Barclays increased their price target on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods lowered their price objective on Huntington Bancshares from $18.00 to $17.00 and set a “market perform” rating for the company in a report on Monday, April 21st. Robert W. Baird raised Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 target price on the stock in a report on Friday, March 7th. Finally, 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 report on Monday, April 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and a consensus target price of $17.45.

Huntington Bancshares Stock Performance

HBAN stock opened at $14.64 on Wednesday. The company has a 50-day simple moving average of $14.52 and a 200 day simple moving average of $15.99. The company has a market capitalization of $21.39 billion, a P/E ratio of 11.90, a PEG ratio of 1.33 and a beta of 0.89. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. Huntington Bancshares Incorporated has a fifty-two week low of $11.92 and a fifty-two week high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the business posted $0.27 EPS. Sell-side analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

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

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date is Tuesday, June 17th. Huntington Bancshares’s payout ratio is currently 47.33%.

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.