Sequoia Financial Advisors LLC Buys 93,369 Shares of Huntington Bancshares Incorporated $HBAN

Sequoia Financial Advisors LLC grew its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 15.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 691,202 shares of the bank’s stock after acquiring an additional 93,369 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Huntington Bancshares were worth $11,992,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Gateway Investment Advisers LLC bought a new stake in shares of Huntington Bancshares during the 4th quarter valued at $289,000. LaFleur & Godfrey LLC lifted its position in shares of Huntington Bancshares by 9.8% during the 4th quarter. LaFleur & Godfrey LLC now owns 13,902 shares of the bank’s stock valued at $241,000 after acquiring an additional 1,242 shares during the period. Swedbank AB lifted its position in shares of Huntington Bancshares by 0.8% during the 4th quarter. Swedbank AB now owns 415,578 shares of the bank’s stock valued at $7,210,000 after acquiring an additional 3,308 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Huntington Bancshares by 10.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,266,059 shares of the bank’s stock valued at $57,091,000 after acquiring an additional 299,049 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Huntington Bancshares by 27.9% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 215,925 shares of the bank’s stock valued at $3,746,000 after acquiring an additional 47,059 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Huntington Bancshares news, VP Scott D. Kleinman sold 65,530 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $15.28, for a total value of $1,001,298.40. Following the completion of the transaction, the vice president owned 481,676 shares of the company’s stock, valued at $7,360,009.28. This represents a 11.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Prashant Nateri sold 10,171 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $15.50, for a total value of $157,650.50. Following the completion of the transaction, the insider directly owned 83,819 shares of the company’s stock, valued at approximately $1,299,194.50. The trade was a 10.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have acquired 39,200 shares of company stock worth $756,724 and have sold 93,156 shares worth $1,489,372. 0.67% of the stock is currently owned by company insiders.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $16.19 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45. The stock has a market capitalization of $32.82 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 0.77 and a beta of 0.96. The stock has a fifty day moving average of $16.17 and a 200-day moving average of $16.75.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter in the previous year, the firm earned $0.34 EPS. On average, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio is presently 47.69%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. National Bank Financial set a $21.00 target price on Huntington Bancshares in a research report on Wednesday, February 4th. Morgan Stanley cut their target price on Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. Raymond James Financial boosted their price target on Huntington Bancshares from $20.00 to $21.00 and gave the stock a “strong-buy” rating in a report on Friday, January 23rd. Evercore lowered their price target on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, April 6th. Finally, JPMorgan Chase & Co. lowered their price target on Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating for the company in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $20.05.

About Huntington Bancshares

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.