Sequoia Financial Advisors LLC Has $11.99 Million Position in Huntington Bancshares Incorporated $HBAN

Key Points

• Sequoia Financial Advisors boosted its Huntington Bancshares stake by 15.6% in the quarter to 691,202 shares, valued at about $11.99 million.
• Huntington beat Q1 expectations with EPS of $0.37 (vs. $0.16 est.) and $2.59 billion in revenue, and announced a quarterly dividend of $0.155 per share (3.8% yield).
• Analysts have trimmed price targets recently (roughly $18.50–$20), but the consensus is a Moderate Buy with an average target of $20.05.

Sequoia Financial Advisors LLC lifted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 15.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 691,202 shares of the bank's stock after purchasing an additional 93,369 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Huntington Bancshares were worth $11,992,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of HBAN. Palisade Asset Management LLC acquired a new stake in shares of Huntington Bancshares during the third quarter worth about $26,000. South Plains Financial Inc. raised its position in shares of 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 purchasing an additional 826 shares during the period. Accredited Wealth Management LLC raised its position in shares of 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 purchasing an additional 1,322 shares during the period. Grey Fox Wealth Advisors LLC bought a new position in shares of Huntington Bancshares during the third quarter worth about $31,000. Finally, AlphaCore Capital LLC bought a new position in shares of Huntington Bancshares during the third quarter worth about $33,000. Institutional investors and hedge funds own 80.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HBAN. Wolfe Research dropped their target price on Huntington Bancshares from $21.00 to $19.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 1st. Morgan Stanley dropped their target price on Huntington Bancshares from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Friday, April 24th. Evercore dropped their target price on Huntington Bancshares from $21.00 to $19.00 and set an "outperform" rating on the stock in a research report on Monday, April 6th. DA Davidson dropped 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, March 16th. Finally, JPMorgan Chase & Co. dropped their target price on Huntington Bancshares from $19.00 to $18.50 and set an "overweight" rating on the stock in a research report on Thursday, April 30th. One research 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 given a Sell rating to the company. According to data from MarketBeat.com, Huntington Bancshares has a consensus rating of "Moderate Buy" and an average price target of $20.05.

Insider Buying and Selling at Huntington Bancshares

In related news, VP Brendan A. Lawlor sold 17,455 shares of the business's stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $18.93, for a total value of $330,423.15. Following the completion of the sale, the vice president directly owned 42,398 shares in the company, valued at $802,594.14. The trade was a 29.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Prashant Nateri sold 10,171 shares of the business's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $15.50, for a total value of $157,650.50. Following the completion of the sale, the insider owned 83,819 shares of the company's stock, valued at $1,299,194.50. This trade represents a 10.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, 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.

Huntington Bancshares Stock Down 2.7%

NASDAQ:HBAN opened at $16.19 on Friday. The firm has a market capitalization of $32.82 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 0.77 and a beta of 0.96. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45. The stock's 50 day moving average price is $16.17 and its two-hundred day moving average price is $16.75. 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 - Get Free Report) last posted its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.21. The business had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same period in the previous year, the firm earned $0.34 EPS. Equities research analysts expect that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.8%. Huntington Bancshares's 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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