First National Trust Co Sells 5,889 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

First National Trust Co reduced its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 133,830 shares of the bank’s stock after selling 5,889 shares during the quarter. First National Trust Co’s holdings in Huntington Bancshares were worth $2,177,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in HBAN. Raymond James Financial Inc. acquired a new stake in Huntington Bancshares in the fourth quarter valued at approximately $150,444,000. State Street Corp grew its stake in Huntington Bancshares by 10.3% in the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock valued at $1,179,319,000 after acquiring an additional 7,439,909 shares during the period. Amundi grew its stake in Huntington Bancshares by 26.7% in the fourth quarter. Amundi now owns 17,435,207 shares of the bank’s stock valued at $286,460,000 after acquiring an additional 3,671,235 shares during the period. FMR LLC grew its stake in Huntington Bancshares by 16.8% in the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock valued at $348,672,000 after acquiring an additional 3,410,597 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Huntington Bancshares by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank’s stock valued at $1,056,353,000 after acquiring an additional 2,218,020 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $14.75 on Friday. The firm has a market cap of $21.44 billion, a PE ratio of 11.99, a PEG ratio of 1.33 and a beta of 1.07. The stock’s fifty day moving average price is $16.37 and its two-hundred day moving average price is $16.11. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a 1 year low of $12.05 and a 1 year high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same period last year, the firm earned $0.27 EPS. On average, equities research analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a $0.155 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 annualized dividend and a dividend yield of 4.20%. Huntington Bancshares’s payout ratio is presently 50.41%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. The Goldman Sachs Group raised their price objective on Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 target price on shares of Huntington Bancshares in a research report on Tuesday, January 21st. Truist Financial lifted their target price on Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $20.00 target price (up previously from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. Finally, Morgan Stanley cut their target price on Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average price target of $18.35.

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.