Sentinel Trust Co. LBA Cuts Stock Holdings in Huntington Bancshares Incorporated $HBAN

Sentinel Trust Co. LBA reduced its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 5.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 571,253 shares of the bank’s stock after selling 33,792 shares during the period. Huntington Bancshares comprises about 0.9% of Sentinel Trust Co. LBA’s portfolio, making the stock its 19th biggest holding. Sentinel Trust Co. LBA’s holdings in Huntington Bancshares were worth $8,940,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. MV Capital Management Inc. acquired a new position in shares of Huntington Bancshares in the fourth quarter worth about $25,000. Palisade Asset Management LLC purchased a new stake in shares of Huntington Bancshares during the 3rd quarter worth about $26,000. Centennial Bank AR acquired a new stake in shares of Huntington Bancshares during the 4th quarter valued at about $28,000. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Huntington Bancshares by 80.7% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,226 shares of the bank’s stock valued at $35,000 after acquiring an additional 994 shares during the period. Finally, DV Equities LLC purchased a new position in shares of Huntington Bancshares in the 4th quarter valued at about $38,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on HBAN shares. Stephens initiated coverage on Huntington Bancshares in a report on Monday, June 15th. They issued an “equal weight” rating and a $19.00 price target for the company. UBS Group raised their price objective on Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Piper Sandler upgraded Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price objective for the company in a research report on Thursday, April 23rd. Wolfe Research reduced their target price on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. Finally, Morgan Stanley increased their target price on Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.25.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $18.25 on Monday. The firm has a market capitalization of $37.00 billion, a PE ratio of 14.04, a P/E/G ratio of 0.82 and a beta of 0.93. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45. The firm’s 50-day moving average price is $16.90 and its 200 day moving average price is $16.92. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The company had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period in the previous year, the firm posted $0.34 EPS. On average, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.62 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio is currently 47.69%.

Insiders Place Their Bets

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $190,224.00. Following the sale, the executive vice president owned 267,859 shares of the company’s stock, valued at $4,821,462. The trade was a 3.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the sale, the director directly owned 612,155 shares of the company’s stock, valued at $10,620,889.25. The trade was a 26.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders acquired a total of 33,500 shares of company stock worth $617,542 in the last 90 days. 0.67% of the stock is currently owned by insiders.

Huntington Bancshares Company 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.