Truist Financial Corp Sells 1,581,563 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Truist Financial Corp reduced its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 47.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,780,747 shares of the bank’s stock after selling 1,581,563 shares during the quarter. Truist Financial Corp owned 0.12% of Huntington Bancshares worth $22,651,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in HBAN. Wetzel Investment Advisors Inc. bought a new stake in Huntington Bancshares during the fourth quarter valued at approximately $29,000. Planned Solutions Inc. bought a new stake in shares of Huntington Bancshares during the 4th quarter valued at $33,000. Authentikos Wealth Advisory LLC bought a new stake in shares of Huntington Bancshares during the 3rd quarter valued at $35,000. Baker Avenue Asset Management LP increased its stake in shares of Huntington Bancshares by 31.8% in the 3rd quarter. Baker Avenue Asset Management LP now owns 3,992 shares of the bank’s stock worth $42,000 after purchasing an additional 963 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in Huntington Bancshares in the 3rd quarter worth $51,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on HBAN shares. Morgan Stanley reissued an “overweight” rating and set a $16.00 price target on shares of Huntington Bancshares in a report on Monday, April 22nd. Jefferies Financial Group raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and increased their target price for the stock from $14.00 to $16.00 in a report on Monday, April 8th. Stephens restated an “equal weight” rating and set a $15.00 target price on shares of Huntington Bancshares in a research note on Monday, April 22nd. DA Davidson upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and upped their price target for the stock from $14.00 to $15.50 in a research report on Tuesday, February 27th. Finally, Evercore ISI increased their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $15.17.

Huntington Bancshares Trading Up 0.1 %

Shares of Huntington Bancshares stock opened at $13.57 on Tuesday. Huntington Bancshares Incorporated has a twelve month low of $9.13 and a twelve month high of $14.07. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88. The business has a 50-day moving average price of $13.38 and a 200-day moving average price of $12.31. The firm has a market cap of $19.65 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 2.50 and a beta of 1.11.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, April 19th. The bank reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the prior year, the company earned $0.38 earnings per share. Equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.22 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date is Friday, June 14th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Insider Buying and Selling

In other Huntington Bancshares news, Director Ann B. Crane sold 58,000 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $13.54, for a total transaction of $785,320.00. Following the completion of the transaction, the director now owns 192,247 shares in the company, valued at $2,603,024.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Huntington Bancshares news, Director Ann B. Crane sold 58,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $13.54, for a total transaction of $785,320.00. Following the sale, the director now directly owns 192,247 shares in the company, valued at $2,603,024.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Zachary Jacob Wasserman sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total value of $409,800.00. Following the completion of the sale, the chief financial officer now directly owns 305,884 shares of the company’s stock, valued at $4,178,375.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 169,489 shares of company stock worth $2,286,999. Insiders own 0.92% of the company’s stock.

About Huntington Bancshares

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.