Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 22.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 596,294 shares of the bank's stock after buying an additional 109,454 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Huntington Bancshares were worth $8,950,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of HBAN. Charles Schwab Investment Management Inc. raised its holdings in shares of Huntington Bancshares by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank's stock valued at $1,056,353,000 after buying an additional 2,218,020 shares during the last quarter. Invesco Ltd. raised its stake in Huntington Bancshares by 4.6% during the 4th quarter. Invesco Ltd. now owns 52,599,986 shares of the bank's stock valued at $855,802,000 after acquiring an additional 2,310,502 shares during the last quarter. FMR LLC lifted its position in Huntington Bancshares by 36.9% during the 4th quarter. FMR LLC now owns 32,479,039 shares of the bank's stock worth $528,434,000 after acquiring an additional 8,759,871 shares during the period. Victory Capital Management Inc. grew its stake in shares of Huntington Bancshares by 7.4% in the 4th quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank's stock valued at $355,094,000 after purchasing an additional 1,506,606 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Huntington Bancshares in the fourth quarter valued at approximately $302,826,000. 80.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HBAN has been the subject of several recent research reports. Cowen initiated coverage on Huntington Bancshares in a report on Wednesday, May 14th. They set a "buy" rating for the company. Truist Financial raised their target price on shares of Huntington Bancshares from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Stephens reaffirmed an "equal weight" rating and issued a $16.50 target price on shares of Huntington Bancshares in a report on Monday, April 21st. Argus set a $17.00 price target on shares of Huntington Bancshares in a report on Friday, April 25th. Finally, TD Cowen assumed coverage on Huntington Bancshares in a research report on Thursday, May 15th. They set a "buy" rating and a $20.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Huntington Bancshares has an average rating of "Moderate Buy" and a consensus price target of $18.08.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock traded down $0.04 during trading on Friday, hitting $16.60. 36,523,154 shares of the company were exchanged, compared to its average volume of 18,788,880. Huntington Bancshares Incorporated has a fifty-two week low of $11.92 and a fifty-two week high of $18.45. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.98. The firm has a 50 day moving average price of $15.45 and a 200 day moving average price of $15.67. The stock has a market capitalization of $24.25 billion, a price-to-earnings ratio of 12.67, a P/E/G ratio of 1.25 and a beta of 0.92.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released 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 return on equity of 11.44% and a net margin of 16.94%. The company had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same period in the previous year, the firm posted $0.27 earnings per share. On average, equities analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.73%. Huntington Bancshares's dividend payout ratio (DPR) is 47.33%.

Huntington Bancshares declared that its board has approved a stock buyback plan on Thursday, April 17th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the bank to buy up to 5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other Huntington Bancshares news, VP Brantley J. Standridge sold 70,417 shares of the company's stock in a transaction dated Tuesday, April 22nd. The stock was 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 in the company, valued at $4,469,182.64. This represents a 17.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 59,060 shares of the firm's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $14.36, for a total value of $848,101.60. Following the completion of the transaction, the chief financial officer now owns 277,348 shares in the company, valued at approximately $3,982,717.28. This trade represents a 17.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 214,375 shares of company stock valued at $3,049,277 in the last ninety days. Insiders own 0.89% of the company's stock.

Huntington Bancshares Company Profile

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.