Truist Financial Corp Decreases Stock Holdings in Huntington Bancshares Incorporated $HBAN

Key Points

• Truist Financial Corp reduced its stake in Huntington Bancshares by 4.8%, now holding approximately 1.41 million shares valued at about $23.67 million.
• Huntington Bancshares recently announced a quarterly dividend of $0.155 per share, reflecting a 3.6% dividend yield.
• Research analysts have varying ratings for Huntington Bancshares, with the stock currently receiving an average rating of "Moderate Buy" and a consensus price target of $19.24.

Truist Financial Corp lessened its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,412,033 shares of the bank's stock after selling 71,505 shares during the period. Truist Financial Corp owned approximately 0.10% of Huntington Bancshares worth $23,666,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in HBAN. Teacher Retirement System of Texas boosted its stake in shares of Huntington Bancshares by 1,462.4% in the 1st quarter. Teacher Retirement System of Texas now owns 212,390 shares of the bank's stock worth $3,188,000 after buying an additional 198,796 shares during the last quarter. Czech National Bank increased its position in shares of Huntington Bancshares by 6.6% during the 2nd quarter. Czech National Bank now owns 356,096 shares of the bank's stock valued at $5,968,000 after purchasing an additional 22,190 shares during the last quarter. Trinity Financial Advisors LLC increased its position in shares of Huntington Bancshares by 1,497.1% during the 2nd quarter. Trinity Financial Advisors LLC now owns 286,896 shares of the bank's stock valued at $4,853,000 after purchasing an additional 268,933 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of Huntington Bancshares by 11.9% during the 1st quarter. QRG Capital Management Inc. now owns 25,827 shares of the bank's stock valued at $388,000 after purchasing an additional 2,751 shares during the last quarter. Finally, Brown Advisory Inc. grew its position in Huntington Bancshares by 13.5% during the first quarter. Brown Advisory Inc. now owns 36,467 shares of the bank's stock valued at $547,000 after buying an additional 4,347 shares during the period. Institutional investors own 80.72% of the company's stock.

Huntington Bancshares Trading Up 1.0%

HBAN stock opened at $17.21 on Friday. The firm has a fifty day moving average price of $17.12 and a 200 day moving average price of $16.02. Huntington Bancshares Incorporated has a fifty-two week low of $11.91 and a fifty-two week high of $18.44. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $25.11 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 0.82 and a beta of 0.96.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 17th were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Wednesday, September 17th. Huntington Bancshares's dividend payout ratio is currently 45.93%.

Insider Activity

In other news, EVP Marcy C. Hingst sold 41,100 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $18.00, for a total transaction of $739,800.00. Following the sale, the executive vice president directly owned 299,361 shares in the company, valued at approximately $5,388,498. This represents a 12.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.89% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on HBAN shares. Wolfe Research upgraded shares of Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price target on the stock in a research note on Thursday, July 3rd. DA Davidson raised their target price on Huntington Bancshares from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Deutsche Bank Aktiengesellschaft raised their target price on Huntington Bancshares from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Tuesday. Wall Street Zen cut Huntington Bancshares from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. Finally, Truist Financial boosted 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, September 12th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $19.24.

Huntington Bancshares 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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