Trinity Financial Advisors LLC Purchases 268,933 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• Trinity Financial Advisors LLC significantly increased its holdings in Huntington Bancshares by 1,497.1%, purchasing 268,933 shares in the second quarter, making the stock its 19th largest investment.
• Huntington Bancshares announced a quarterly dividend of $0.155 per share, yielding approximately 3.5% annually, with the ex-dividend date set for September 17th.
• Several analysts have upgraded their price targets for Huntington Bancshares, with Jefferies Financial Group raising it to $21.00 and a consensus rating of Moderate Buy for the stock.

Trinity Financial Advisors LLC lifted its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 1,497.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 286,896 shares of the bank's stock after purchasing an additional 268,933 shares during the quarter. Huntington Bancshares comprises 1.5% of Trinity Financial Advisors LLC's investment portfolio, making the stock its 19th biggest holding. Trinity Financial Advisors LLC's holdings in Huntington Bancshares were worth $4,853,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Foundations Investment Advisors LLC raised its stake in Huntington Bancshares by 2.4% during the first quarter. Foundations Investment Advisors LLC now owns 29,023 shares of the bank's stock valued at $436,000 after buying an additional 691 shares during the last quarter. Winch Advisory Services LLC raised its stake in Huntington Bancshares by 18.3% during the first quarter. Winch Advisory Services LLC now owns 4,579 shares of the bank's stock valued at $69,000 after buying an additional 709 shares during the last quarter. Quarry LP raised its stake in Huntington Bancshares by 73.0% during the first quarter. Quarry LP now owns 1,929 shares of the bank's stock valued at $29,000 after buying an additional 814 shares during the last quarter. First Horizon Advisors Inc. raised its stake in Huntington Bancshares by 5.5% during the first quarter. First Horizon Advisors Inc. now owns 16,073 shares of the bank's stock valued at $241,000 after buying an additional 844 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Huntington Bancshares by 4.0% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 21,835 shares of the bank's stock valued at $328,000 after buying an additional 847 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on HBAN shares. Jefferies Financial Group lifted their price objective on Huntington Bancshares from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. DA Davidson lifted their price objective on Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Raymond James Financial reiterated a "strong-buy" rating and set a $21.00 price objective (up previously from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. Truist Financial lifted their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Friday. Finally, Wolfe Research upgraded Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price target for the company in a research note on Thursday, July 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Huntington Bancshares has a consensus rating of "Moderate Buy" and a consensus price target of $18.79.

Huntington Bancshares Stock Up 0.2%

HBAN stock opened at $17.77 on Friday. Huntington Bancshares Incorporated has a 1-year low of $11.91 and a 1-year high of $18.44. The business has a fifty day moving average price of $17.00 and a 200-day moving average price of $15.79. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $25.92 billion, a P/E ratio of 13.16, a P/E/G ratio of 0.86 and a beta of 0.97.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, September 17th. Huntington Bancshares's dividend payout ratio is 45.93%.

Insider Buying and Selling

In related news, EVP Marcy C. Hingst sold 41,100 shares of the company's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $18.00, for a total transaction of $739,800.00. Following the completion of the sale, the executive vice president owned 299,361 shares in the company, valued at approximately $5,388,498. This represents a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.

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