Huntington Bancshares (NASDAQ:HBAN) Stock Price Breaks Above 50 Day Moving Average – Time to Sell?

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $15.82 and traded as high as $16.10. Huntington Bancshares shares last traded at $15.92, with a volume of 17,345,365 shares changing hands.

Wall Street Analyst Weigh In

HBAN has been the subject of a number of analyst reports. Morgan Stanley downgraded Huntington Bancshares from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $21.00 to $19.00 in a report on Friday, July 24th. Keefe, Bruyette & Woods dropped their price objective on shares of Huntington Bancshares from $19.50 to $18.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 6th. Stephens cut their target price on shares of Huntington Bancshares from $19.00 to $18.00 in a report on Tuesday, September 22nd. Robert W. Baird decreased their target price on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, October 23rd. Finally, Argus lowered their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, November 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.89.

Huntington Bancshares Trading Up 2.9%

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 company has a 50 day moving average of $15.82 and a two-hundred day moving average of $16.64. The stock has a market cap of $32.17 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 1.03 and a beta of 0.97.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, October 22nd. The bank reported $0.38 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.38. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Huntington Bancshares had a return on equity of 10.93% and a net margin of 16.28%. During the same quarter in the prior year, the firm posted $0.41 EPS. Sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.54 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Friday, December 18th will be given a $0.1550 dividend. The ex-dividend date is Friday, December 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.9%. Huntington Bancshares’s payout ratio is 51.24%.

Insider Transactions at Huntington Bancshares

In related news, SVP Donnell R. White sold 3,000 shares of Huntington Bancshares stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $15.87, for a total value of $47,610.00. Following the sale, the senior vice president owned 23,697 shares of the company’s stock, valued at approximately $376,071.39. This trade represents a 11.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary Torgow purchased 12,700 shares of the company’s stock in a transaction that occurred on Tuesday, October 27th. The stock was bought at an average cost of $15.73 per share, for a total transaction of $199,771.00. Following the purchase, the director directly owned 956,041 shares in the company, valued at $15,038,524.93. This trade represents a 1.35% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC grew its position in shares of Huntington Bancshares by 19.4% in the third quarter. Intech Investment Management LLC now owns 75,330 shares of the bank’s stock valued at $1,150,000 after purchasing an additional 12,264 shares during the period. Silver Oak Securities Incorporated purchased a new stake in shares of Huntington Bancshares during the third quarter worth about $221,000. White Pine Capital LLC purchased a new stake in shares of Huntington Bancshares during the third quarter worth about $262,000. West Family Investments Inc. raised its position in shares of Huntington Bancshares by 106.0% during the 3rd quarter. West Family Investments Inc. now owns 41,720 shares of the bank’s stock worth $637,000 after purchasing an additional 21,472 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Huntington Bancshares by 10.3% during the 3rd quarter. Bessemer Group Inc. now owns 53,126 shares of the bank’s stock worth $810,000 after purchasing an additional 4,963 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides consumer and commercial banking services to individuals, businesses, and institutions. The company traces its roots to 1866, when P.W. Huntington & Company opened in Columbus.

Huntington’s offerings include checking and savings accounts, credit cards, mortgages, auto loans, business lending, treasury management, wealth management, and investment services.