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

Trinity Financial Advisors LLC acquired a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 11,708 shares of the bank’s stock, valued at approximately $190,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Asset Dedication LLC increased its stake in Huntington Bancshares by 200.7% in the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,202 shares during the period. Peoples Bank KS bought a new position in shares of Huntington Bancshares during the 3rd quarter worth approximately $29,000. Future Financial Wealth Managment LLC acquired a new stake in Huntington Bancshares in the 3rd quarter valued at $31,000. Fortitude Family Office LLC bought a new stake in Huntington Bancshares in the third quarter valued at $32,000. Finally, Hazlett Burt & Watson Inc. raised its stake in Huntington Bancshares by 695.5% during the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after acquiring an additional 2,003 shares in the last quarter. 80.72% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the transaction, the insider now owns 558,342 shares of the company’s stock, valued at $8,615,217.06. This represents a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the sale, the chief financial officer now owns 259,943 shares in the company, valued at $4,582,795.09. This trade represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,699 shares of company stock worth $757,356. Company insiders own 0.89% of the company’s stock.

Huntington Bancshares Trading Down 2.5 %

HBAN traded down $0.41 during midday trading on Friday, reaching $16.02. 16,372,571 shares of the company were exchanged, compared to its average volume of 15,292,134. The stock’s 50-day simple moving average is $17.04 and its 200 day simple moving average is $15.30. Huntington Bancshares Incorporated has a one year low of $12.02 and a one year high of $18.44. The stock has a market capitalization of $23.27 billion, a P/E ratio of 15.40, a PEG ratio of 3.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88.

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

Huntington Bancshares Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Citigroup boosted their target price on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. DA Davidson raised their price objective on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a report on Monday, October 21st. 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 price objective on shares of Huntington Bancshares in a research report on Monday, December 23rd. Finally, Truist Financial assumed coverage on Huntington Bancshares in a report on Tuesday. They set a “buy” rating and a $19.00 target price on the stock. One 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. Based on data from MarketBeat.com, Huntington Bancshares has an average rating of “Moderate Buy” and an average price target of $17.76.

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.