Trinity Financial Advisors LLC Purchases New Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Trinity Financial Advisors LLC acquired a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 11,708 shares of the bank’s stock, valued at approximately $190,000.

A number of other hedge funds have also recently added to or reduced their stakes in HBAN. State Street Corp lifted its holdings in Huntington Bancshares by 10.3% in the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after acquiring an additional 7,439,909 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Huntington Bancshares by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock valued at $921,778,000 after acquiring an additional 1,522,767 shares during the period. Geode Capital Management LLC grew its position in shares of Huntington Bancshares by 1.3% during the third quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock worth $540,422,000 after acquiring an additional 473,893 shares during the last quarter. FMR LLC increased its holdings in shares of Huntington Bancshares by 16.8% in the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock worth $348,672,000 after acquiring an additional 3,410,597 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Huntington Bancshares by 13.2% in the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after purchasing an additional 2,363,988 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Activity

In related news, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the sale, the vice president now directly owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. This represents a 5.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the transaction, the insider now owns 558,342 shares in the company, valued at $8,615,217.06. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,699 shares of company stock worth $757,356 in the last three months. 0.89% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

HBAN has been the topic of several analyst reports. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. Truist Financial started coverage on Huntington Bancshares in a report on Tuesday. They set a “buy” rating and a $19.00 price target on the stock. Sandler O’Neill reaffirmed a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. DA Davidson raised their target price on shares of Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Barclays boosted their target price on Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.76.

Huntington Bancshares Stock Down 2.5 %

Shares of HBAN traded down $0.41 during trading hours on Friday, reaching $16.02. The company’s stock had a trading volume of 16,372,571 shares, compared to its average volume of 15,292,134. The company has a 50 day moving average of $17.04 and a two-hundred day moving average of $15.30. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. The firm has a market cap of $23.27 billion, a price-to-earnings ratio of 15.40, a P/E/G ratio of 3.42 and a beta of 1.07. Huntington Bancshares Incorporated has a 1-year low of $12.02 and a 1-year high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. As a group, research analysts predict that Huntington Bancshares Incorporated will post 1.22 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date was Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 59.62%.

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.