Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Free Report) Director James Rollins III bought 14,000 shares of the business’s stock in a transaction on Monday, October 26th. The shares were acquired at an average price of $18.12 per share, for a total transaction of $253,680.00. Following the completion of the purchase, the director owned 15,500 shares in the company, valued at approximately $280,860. The trade was a 933.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.
Huntington Bancshares Price Performance
Shares of NASDAQ:HBAN opened at $15.97 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.91 and a current ratio of 0.91. The business has a 50-day simple moving average of $15.98 and a two-hundred day simple moving average of $16.71. Huntington Bancshares Incorporated has a fifty-two week low of $14.82 and a fifty-two week high of $19.45. The firm has a market cap of $32.27 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.01 and a beta of 0.95.
Huntington Bancshares (NASDAQ:HBAN – Get Free Report) last posted its earnings results on Thursday, October 22nd. The bank reported $0.38 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.38. Huntington Bancshares had a return on equity of 10.93% and a net margin of 16.28%. The company 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 company earned $0.41 earnings per share. On average, analysts expect that Huntington Bancshares Incorporated will post 1.54 earnings per share for the current year.
Huntington Bancshares Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Friday, December 18th will be given a $0.1550 dividend. This represents a $0.62 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, December 18th. Huntington Bancshares’s payout ratio is currently 51.24%.
Hedge Funds Weigh In On Huntington Bancshares
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Huntington Bancshares in the 2nd quarter worth approximately $3,134,426,000. Dimensional Fund Advisors LP boosted its holdings 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 valued at $367,388,000 after purchasing an additional 5,026,894 shares during the last quarter. Amundi grew its position in Huntington Bancshares by 30.7% during the 1st quarter. Amundi now owns 19,502,547 shares of the bank’s stock worth $305,215,000 after purchasing an additional 4,578,566 shares during the period. Bank of America Corp DE purchased a new position in Huntington Bancshares during the second quarter valued at approximately $256,772,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Huntington Bancshares by 17.8% in the 1st quarter. Bank of New York Mellon Corp now owns 13,184,586 shares of the bank’s stock valued at $206,339,000 after purchasing an additional 1,993,618 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have commented on the company. Citigroup cut their price objective on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday. TD Cowen assumed coverage on shares of Huntington Bancshares in a research note on Thursday, October 8th. They issued a “buy” rating and a $18.00 target price on the stock. Evercore decreased their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, September 18th. Truist Financial lowered their price target on Huntington Bancshares from $19.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Weiss Ratings cut Huntington Bancshares from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.95.
View Our Latest Report on HBAN
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.
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