Sumitomo Mitsui Trust Group Inc. Sells 209,971 Shares of Huntington Bancshares Incorporated $HBAN

Sumitomo Mitsui Trust Group Inc. lessened its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.1% during the third quarter, HoldingsChannel reports. The firm owned 4,939,647 shares of the bank’s stock after selling 209,971 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Huntington Bancshares were worth $75,379,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Huntington Bancshares in the second quarter valued at approximately $3,134,426,000. Dimensional Fund Advisors LP increased its position in Huntington Bancshares by 27.2% in the first quarter. Dimensional Fund Advisors LP now owns 23,480,601 shares of the bank’s stock worth $367,388,000 after buying an additional 5,026,894 shares during the last quarter. Amundi increased its position in Huntington Bancshares by 30.7% in the first quarter. Amundi now owns 19,502,547 shares of the bank’s stock worth $305,215,000 after buying an additional 4,578,566 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Huntington Bancshares in the second quarter valued at $256,772,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Huntington Bancshares in the second quarter valued at $229,246,000. Institutional investors own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HBAN. Zacks Research cut Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research report on Monday, October 5th. JPMorgan Chase & Co. lifted their price objective on Huntington Bancshares from $17.50 to $18.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Truist Financial lowered their price objective on Huntington Bancshares from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, October 28th. Bank of America downgraded shares of Huntington Bancshares from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $20.00 to $18.50 in a report on Monday, July 27th. Finally, Stephens dropped their price objective on shares of Huntington Bancshares from $19.00 to $18.00 in a report on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $18.98.

Huntington Bancshares Trading Down 0.9%

Shares of HBAN stock opened at $15.86 on Wednesday. The company’s fifty day simple moving average is $15.92 and its two-hundred day simple moving average is $16.69. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.91 and a quick ratio of 0.91. Huntington Bancshares Incorporated has a 1 year low of $14.82 and a 1 year high of $19.45. The stock has a market capitalization of $32.04 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.03 and a beta of 0.97.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, October 22nd. The bank reported $0.38 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.38. Huntington Bancshares had a return on equity of 10.93% and a net margin of 16.28%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the business posted $0.41 earnings per share. As a group, analysts anticipate that Huntington Bancshares Incorporated will post 1.54 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Friday, December 18th will be issued a $0.1550 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, December 18th. Huntington Bancshares’s dividend payout ratio is presently 51.24%.

Insider Transactions at Huntington Bancshares

In other news, Director James D. Rollins III purchased 14,000 shares of the firm’s stock in a transaction dated Monday, October 26th. The shares were purchased at an average price of $18.12 per share, with a total value of $253,680.00. Following the completion of the acquisition, the director owned 15,500 shares in the company, valued at $280,860. This trade represents a 933.33% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gary Torgow purchased 12,700 shares of the firm’s stock in a transaction dated Tuesday, October 27th. The stock was purchased at an average cost of $15.73 per share, for a total transaction of $199,771.00. Following the acquisition, the director owned 956,041 shares of the company’s stock, valued at approximately $15,038,524.93. This trade represents a 1.35% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.67% of the company’s stock.

About Huntington Bancshares

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and residential lending, credit cards, auto finance, mortgages, commercial loans, treasury management, investment and wealth management services, insurance, and other financial solutions.