Huntington Bancshares Incorporated $HBAN Shares Sold by TD Private Client Wealth LLC

Key Points

• TD Private Client Wealth LLC cut its Huntington Bancshares stake by 40.5% in the fourth quarter, selling 92,074 shares and leaving it with 135,460 shares worth about $2.35 million.
• Insider activity was mixed: VP Scott D. Kleinman sold 65,530 shares in March, while Director James D. Rollins III bought 8,471 shares in late April.
• Huntington posted solid results, beating quarterly EPS and revenue estimates, and it also declared a quarterly dividend of $0.155 per share, implying a 4.0% annual yield.

TD Private Client Wealth LLC trimmed its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 40.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,460 shares of the bank's stock after selling 92,074 shares during the quarter. TD Private Client Wealth LLC's holdings in Huntington Bancshares were worth $2,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of HBAN. Altrius Capital Management Inc purchased a new stake in Huntington Bancshares during the 3rd quarter valued at about $4,894,000. Vanguard Group Inc. grew its stake in shares of Huntington Bancshares by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 176,980,819 shares of the bank's stock worth $3,056,459,000 after purchasing an additional 680,601 shares during the period. Midwest Trust Co grew its position in Huntington Bancshares by 12.7% during the third quarter. Midwest Trust Co now owns 1,510,977 shares of the bank's stock valued at $26,095,000 after buying an additional 170,240 shares during the period. JPMorgan Chase & Co. grew its position in shares of Huntington Bancshares by 3.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,238,142 shares of the bank's stock valued at $159,543,000 after acquiring an additional 314,544 shares during the period. Finally, Fieldview Capital Management LLC grew its holdings in Huntington Bancshares by 15.9% in the third quarter. Fieldview Capital Management LLC now owns 478,852 shares of the bank's stock valued at $8,270,000 after purchasing an additional 65,828 shares during the period. Hedge funds and other institutional investors own 80.72% of the company's stock.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, VP Scott D. Kleinman sold 65,530 shares of the firm's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $15.28, for a total transaction of $1,001,298.40. Following the transaction, the vice president directly owned 481,676 shares of the company's stock, valued at approximately $7,360,009.28. This trade represents a 11.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James D. Rollins III purchased 8,471 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were bought at an average cost of $18.01 per share, for a total transaction of $152,562.71. Following the acquisition, the director owned 11,500 shares of the company's stock, valued at approximately $207,115. The trade was a 279.66% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders purchased 39,200 shares of company stock valued at $756,724. Company insiders own 0.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HBAN. Piper Sandler upgraded shares of Huntington Bancshares from a "strong sell" rating to a "hold" rating and set a $18.00 target price on the stock in a research report on Thursday, April 23rd. UBS Group set a $21.00 target price on Huntington Bancshares in a report on Wednesday, February 4th. Royal Bank Of Canada cut their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set an "outperform" rating for the company in a report on Tuesday, April 7th. Wolfe Research reduced their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set an "outperform" rating on the stock in a report on Wednesday, April 1st. Finally, Argus boosted their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $20.05.

Huntington Bancshares Price Performance

HBAN stock opened at $15.46 on Wednesday. The business has a 50 day moving average price of $15.97 and a 200 day moving average price of $16.74. Huntington Bancshares Incorporated has a fifty-two week low of $14.89 and a fifty-two 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. The stock has a market cap of $31.34 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 0.72 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.21. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same period last year, the firm posted $0.34 EPS. Equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares's dividend payout ratio is presently 47.69%.

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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