Truist Financial Corp Has $18.58 Million Stake in Huntington Bancshares Incorporated $HBAN

Truist Financial Corp reduced its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 23.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,075,973 shares of the bank’s stock after selling 336,060 shares during the period. Truist Financial Corp owned about 0.07% of Huntington Bancshares worth $18,582,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MTM Investment Management LLC acquired a new stake in shares of Huntington Bancshares during the 2nd quarter valued at $25,000. Grey Fox Wealth Advisors LLC acquired a new stake in shares of Huntington Bancshares in the third quarter valued at about $31,000. Catalyst Capital Advisors LLC bought a new position in shares of Huntington Bancshares during the second quarter worth about $30,000. First Horizon Corp bought a new stake in Huntington Bancshares in the third quarter valued at approximately $36,000. Finally, Root Financial Partners LLC acquired a new stake in Huntington Bancshares during the 3rd quarter valued at approximately $44,000. Institutional investors own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HBAN. Evercore ISI initiated coverage on shares of Huntington Bancshares in a research report on Tuesday, October 21st. They set an “outperform” rating and a $18.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on Huntington Bancshares from $18.00 to $18.50 and gave the stock an “overweight” rating in a research report on Friday, October 10th. Stephens upped their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Thursday, December 18th. Wall Street Zen downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Zacks Research cut Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. Two analysts have 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.26.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $17.48 on Friday. Huntington Bancshares Incorporated has a 1 year low of $11.91 and a 1 year high of $18.91. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.92. The business has a fifty day simple moving average of $17.46 and a two-hundred day simple moving average of $16.88. The company has a market capitalization of $27.53 billion, a P/E ratio of 12.58, a P/E/G ratio of 0.70 and a beta of 0.95.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.During the same period last year, the business posted $0.34 EPS. On average, analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.62 annualized dividend and a yield of 3.5%. Huntington Bancshares’s dividend payout ratio (DPR) is 44.60%.

Insider Buying and Selling

In related news, insider Amit Dhingra sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $18.50, for a total transaction of $185,000.00. Following the sale, the insider owned 155,634 shares of the company’s stock, valued at approximately $2,879,229. This represents a 6.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Marcy C. Hingst sold 12,832 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $18.00, for a total transaction of $230,976.00. Following the transaction, the executive vice president owned 239,473 shares of the company’s stock, valued at $4,310,514. This trade represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 97,863 shares of company stock valued at $1,581,634 in the last three months. Insiders own 0.89% of the company’s stock.

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.