Danica Pension Livsforsikringsaktieselskab Takes Position in Huntington Bancshares Incorporated $HBAN

Danica Pension Livsforsikringsaktieselskab purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 469,016 shares of the bank’s stock, valued at approximately $7,340,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. MV Capital Management Inc. bought a new stake in Huntington Bancshares in the 4th quarter valued at approximately $25,000. Palisade Asset Management LLC bought a new position in shares of Huntington Bancshares during the 3rd quarter worth approximately $26,000. Centennial Bank AR acquired a new stake in shares of Huntington Bancshares in the fourth quarter valued at approximately $28,000. Johnson Financial Group Inc. raised its holdings in shares of Huntington Bancshares by 48.8% in the first quarter. Johnson Financial Group Inc. now owns 2,157 shares of the bank’s stock valued at $34,000 after purchasing an additional 707 shares during the last quarter. Finally, DV Equities LLC bought a new stake in shares of Huntington Bancshares in the fourth quarter worth $38,000. 80.72% of the stock is owned by institutional investors and hedge funds.

Huntington Bancshares Stock Up 0.6%

HBAN stock opened at $18.27 on Thursday. The company has a market cap of $37.04 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 0.81 and a beta of 0.93. The business has a 50-day simple moving average of $17.05 and a 200 day simple moving average of $16.93. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.21. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the prior year, the company posted $0.34 earnings per share. Sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.62 EPS for the current fiscal year.

Insider Activity at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 10,568 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the sale, the executive vice president owned 267,859 shares of the company’s stock, valued at approximately $4,821,462. This represents a 3.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the sale, the director owned 612,155 shares in the company, valued at $10,620,889.25. This represents a 26.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders bought a total of 33,500 shares of company stock valued at $617,542 over the last 90 days. Corporate insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

HBAN has been the subject of a number of analyst reports. UBS Group raised their target price on shares of Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. increased their price objective on shares of Huntington Bancshares from $18.50 to $19.50 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Stephens began coverage on Huntington Bancshares in a report on Monday, June 15th. They issued an “equal weight” rating and a $19.00 price objective for the company. The Goldman Sachs Group lowered their target price on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Finally, Wolfe Research reduced their price target on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $20.25.

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.