Prashant Nateri Sells 10,171 Shares of Huntington Bancshares (NASDAQ:HBAN) Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) 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 sale, the insider directly owned 83,819 shares of the company’s stock, valued at $1,299,194.50. The trade was a 10.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Huntington Bancshares Price Performance

HBAN stock opened at $15.39 on Wednesday. The firm has a market cap of $31.35 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93. Huntington Bancshares Incorporated has a 1 year low of $11.91 and a 1 year high of $19.45. The stock has a 50-day simple moving average of $17.42 and a 200-day simple moving average of $16.99.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $2.21 billion. Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.During the same period last year, the firm posted $0.34 earnings per share. On average, equities analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Wednesday, March 18th. Huntington Bancshares’s payout ratio is presently 44.60%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. MTM Investment Management LLC bought a new position in Huntington Bancshares during the second quarter worth $25,000. MV Capital Management Inc. bought a new stake in Huntington Bancshares during the fourth quarter valued at $25,000. Palisade Asset Management LLC bought a new stake in Huntington Bancshares during the third quarter valued at $26,000. South Plains Financial Inc. raised its holdings in shares of Huntington Bancshares by 116.3% during the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after purchasing an additional 826 shares during the period. Finally, Centennial Bank AR bought a new position in shares of Huntington Bancshares in the 4th quarter worth about $28,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Analyst Ratings Changes

HBAN has been the subject of a number of recent analyst reports. Truist Financial lowered their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating for the company in a report on Friday, March 13th. Wolfe Research reiterated an “outperform” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a report on Wednesday, January 7th. JPMorgan Chase & Co. upped their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. Argus raised their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Finally, Piper Sandler lifted their target price on Huntington Bancshares from $16.00 to $17.00 and gave the stock an “underweight” rating in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.63.

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.