Huntington Bancshares (NASDAQ:HBAN) Director Buys $120,224.25 in Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director James Rollins III purchased 6,075 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were purchased at an average cost of $19.79 per share, with a total value of $120,224.25. Following the completion of the purchase, the director owned 12,000 shares in the company, valued at $237,480. This represents a 102.53% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Huntington Bancshares Price Performance

NASDAQ HBAN traded up $0.60 on Thursday, reaching $16.53. 18,915,141 shares of the stock traded hands, compared to its average volume of 29,181,393. The firm’s fifty day simple moving average is $16.10 and its 200 day simple moving average is $16.78. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. The company has a market cap of $33.51 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 0.74 and a beta of 0.94. Huntington Bancshares Incorporated has a 12 month low of $14.89 and a 12 month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. The firm had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same period last year, the company posted $0.34 EPS. As a group, research analysts predict that Huntington Bancshares Incorporated will post 1.61 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th 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 3.8%. The ex-dividend date is Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio is 47.69%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. National Bank Financial set a $21.00 price objective on Huntington Bancshares in a research report on Wednesday, February 4th. Barclays downgraded Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Jefferies Financial Group increased their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Morgan Stanley cut their price objective 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. Finally, DA Davidson cut their price objective on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.05.

Institutional Trading of Huntington Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of HBAN. Wellington Management Group LLP boosted its position in shares of Huntington Bancshares by 4,265.5% in the fourth quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock worth $1,215,955,000 after buying an additional 68,478,435 shares during the period. Norges Bank acquired a new stake in shares of Huntington Bancshares in the fourth quarter worth $432,584,000. Vanguard Group Inc. boosted its position in shares of Huntington Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock worth $3,319,385,000 after buying an additional 14,338,222 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of 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 period. Finally, Junto Capital Management LP acquired a new stake in shares of Huntington Bancshares in the third quarter worth $85,690,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

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.