James Rollins III Purchases 4,798 Shares of Huntington Bancshares (NASDAQ:HBAN) Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director James Rollins III acquired 4,798 shares of Huntington Bancshares stock in a transaction dated Thursday, June 4th. The shares were purchased at an average price of $20.30 per share, for a total transaction of $97,399.40. Following the completion of the transaction, the director directly owned 10,000 shares in the company, valued at approximately $203,000. The trade was a 92.23% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock traded up $0.60 during trading on Thursday, hitting $16.53. 18,915,141 shares of the stock traded hands, compared to its average volume of 29,181,393. 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 stock has a market cap of $33.51 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 0.74 and a beta of 0.94. The firm’s fifty day moving average is $16.10 and its 200-day moving average is $16.78. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45.

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

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.8%. The ex-dividend date is Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 47.69%.

Wall Street Analyst Weigh In

HBAN has been the topic of several recent research reports. Jefferies Financial Group raised their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. JPMorgan Chase & Co. reduced their price target on Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Morgan Stanley cut their price objective on Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, April 24th. Piper Sandler upgraded Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price objective on the stock in a research report on Thursday, April 23rd. Finally, Evercore cut their price objective on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $20.05.

Institutional Investors Weigh In On Huntington Bancshares

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Huntington Bancshares by 8.1% in the 4th 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 last quarter. State Street Corp grew its position in shares of Huntington Bancshares by 4.7% in the 4th quarter. State Street Corp now owns 77,228,656 shares of the bank’s stock worth $1,351,806,000 after buying an additional 3,438,501 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Huntington Bancshares by 4,265.5% in the 4th 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 last quarter. Boston Partners grew its position in shares of Huntington Bancshares by 3.9% in the 3rd quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock worth $1,091,615,000 after buying an additional 2,363,905 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Huntington Bancshares by 6.6% in the 4th quarter. Invesco Ltd. now owns 62,971,849 shares of the bank’s stock worth $1,092,562,000 after buying an additional 3,908,927 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

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.