Huntington Bancshares Incorporated $HBAN Shares Sold by Truist Financial Corp

Key Points

• Truist Financial Corp reduced its stake in Huntington Bancshares by 6.6% in Q4, selling 70,558 shares and now holding about 1,005,415 shares worth roughly $17.44 million (≈0.06% of the company).
• Huntington beat quarterly estimates with EPS of $0.37 versus $0.16 and revenue of $2.59 billion, and analysts carry a consensus "Moderate Buy" rating with an average price target of $20.05.
• The bank declared a quarterly dividend of $0.155 (annualized $0.62) for a ~3.7% yield with an ex-dividend date of June 17, while institutional investors own about 80.7% of the stock.

Truist Financial Corp cut its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,005,415 shares of the bank's stock after selling 70,558 shares during the quarter. Truist Financial Corp owned about 0.06% of Huntington Bancshares worth $17,444,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HBAN. Palisade Asset Management LLC acquired a new position in Huntington Bancshares during the third quarter worth about $26,000. South Plains Financial Inc. boosted its position in Huntington Bancshares by 116.3% during the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank's stock worth $27,000 after acquiring an additional 826 shares during the last quarter. Accredited Wealth Management LLC boosted its position in Huntington Bancshares by 374.5% during the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank's stock worth $29,000 after acquiring an additional 1,322 shares during the last quarter. Grey Fox Wealth Advisors LLC acquired a new position in Huntington Bancshares during the third quarter worth about $31,000. Finally, AlphaCore Capital LLC acquired a new position in Huntington Bancshares during the third quarter worth about $33,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

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Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $16.64 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a market capitalization of $33.73 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 0.76 and a beta of 0.96. The company's 50-day moving average is $16.19 and its two-hundred day moving average is $16.74. Huntington Bancshares Incorporated has a 1-year low of $14.86 and a 1-year high of $19.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $2.57 billion. During the same period in the prior year, the business posted $0.34 EPS. Analysts forecast that Huntington Bancshares Incorporated will post 1.61 EPS for the current year.

Huntington Bancshares Announces Dividend

The business 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 3.7%. The ex-dividend date is Wednesday, June 17th. Huntington Bancshares's dividend payout ratio is currently 47.69%.

Insider Transactions at Huntington Bancshares

In other news, VP Brendan A. Lawlor sold 17,455 shares of the company's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $18.93, for a total value of $330,423.15. Following the transaction, the vice president directly owned 42,398 shares in the company, valued at approximately $802,594.14. This represents a 29.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gary Torgow acquired 14,200 shares of the firm's stock in a transaction dated Thursday, February 19th. The stock was bought at an average price of $17.81 per share, for a total transaction of $252,902.00. Following the completion of the acquisition, the director owned 943,341 shares in the company, valued at approximately $16,800,903.21. The trade was a 1.53% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 39,200 shares of company stock worth $756,724 and sold 93,156 shares worth $1,489,372. 0.67% of the stock is owned by insiders.

Analysts Set New Price Targets

HBAN has been the topic of a number of recent research reports. National Bank Financial set a $21.00 price target on shares of Huntington Bancshares in a research report on Wednesday, February 4th. Keefe, Bruyette & Woods decreased their target price on shares of Huntington Bancshares from $20.00 to $19.50 and set a "market perform" rating on the stock in a report on Friday, January 23rd. Truist Financial decreased their target price on shares of Huntington Bancshares from $21.00 to $19.00 and set a "buy" rating on the stock in a report on Friday, March 13th. Wolfe Research decreased their target price 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, Barclays lowered shares of Huntington Bancshares from a "hold" rating to a "strong sell" rating in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Huntington Bancshares presently has an average rating of "Moderate Buy" and a consensus target price of $20.05.

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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