James Rollins III Sells 223,522 Shares of Huntington Bancshares (NASDAQ:HBAN) Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director James Rollins III sold 223,522 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $17.35, for a total value of $3,878,106.70. Following the completion of the transaction, the director owned 612,155 shares in the company, valued at $10,620,889.25. This represents a 26.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Huntington Bancshares Stock Up 0.6%

Shares of HBAN traded up $0.11 during trading hours on Tuesday, reaching $17.32. The company’s stock had a trading volume of 20,723,109 shares, compared to its average volume of 28,846,109. The firm has a market cap of $35.11 billion, a price-to-earnings ratio of 13.32, a P/E/G ratio of 0.80 and a beta of 0.94. Huntington Bancshares Incorporated has a 1-year low of $14.89 and a 1-year high of $19.45. 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 50 day moving average of $16.32 and a two-hundred day moving average of $16.85.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same quarter in the prior year, the company earned $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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.6%. Huntington Bancshares’s dividend payout ratio is currently 47.69%.

Hedge Funds Weigh In On Huntington Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HBAN. Empowered Funds LLC grew its holdings in Huntington Bancshares by 5.0% during the first quarter. Empowered Funds LLC now owns 28,888 shares of the bank’s stock valued at $434,000 after purchasing an additional 1,366 shares during the last quarter. Woodline Partners LP grew its holdings in Huntington Bancshares by 40.8% during the first quarter. Woodline Partners LP now owns 122,821 shares of the bank’s stock valued at $1,844,000 after purchasing an additional 35,574 shares during the last quarter. Brown Advisory Inc. grew its holdings in Huntington Bancshares by 8.3% during the second quarter. Brown Advisory Inc. now owns 39,490 shares of the bank’s stock valued at $662,000 after purchasing an additional 3,023 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Huntington Bancshares by 6.2% during the second quarter. Daiwa Securities Group Inc. now owns 219,185 shares of the bank’s stock valued at $3,674,000 after purchasing an additional 12,865 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in Huntington Bancshares by 6.2% during the second quarter. Sei Investments Co. now owns 707,605 shares of the bank’s stock valued at $11,859,000 after purchasing an additional 41,156 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

HBAN has been the topic of a number of research reports. Royal Bank Of Canada dropped their price objective on Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. Jefferies Financial Group increased their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Truist Financial dropped their price objective on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Stephens initiated coverage on Huntington Bancshares in a report on Monday. They issued an “equal weight” rating and a $19.00 price objective on the stock. Finally, Wolfe Research dropped their price objective on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus price target of $20.05.

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.