Huntington Bancshares (NASDAQ:HBAN) Director James Rollins III Acquires 11,127 Shares

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director James Rollins III acquired 11,127 shares of Huntington Bancshares stock in a transaction dated Tuesday, June 2nd. The stock was purchased at an average cost of $16.50 per share, for a total transaction of $183,595.50. Following the completion of the purchase, the director directly owned 11,127 shares in the company, valued at approximately $183,595.50. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $16.53 on Friday. The firm has a market capitalization of $33.51 billion, a P/E ratio of 12.72, a P/E/G ratio of 0.72 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 debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. The business’s 50-day simple moving average is $16.12 and its 200-day simple moving average is $16.78.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.21. The business had revenue of $2.59 billion for 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 in the previous year, the company posted $0.34 EPS. Equities analysts predict that Huntington Bancshares Incorporated will post 1.61 EPS for the current year.

Huntington Bancshares Announces Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HBAN. MV Capital Management Inc. bought a new position in Huntington Bancshares during the 4th quarter valued at $25,000. Palisade Asset Management LLC bought a new position in Huntington Bancshares during the 3rd quarter valued at $26,000. South Plains Financial Inc. increased its holdings in shares of Huntington Bancshares by 116.3% in the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after acquiring an additional 826 shares during the last quarter. Centennial Bank AR bought a new stake in shares of Huntington Bancshares in the 4th quarter valued at approximately $28,000. Finally, Accredited Wealth Management LLC increased its holdings in shares of Huntington Bancshares by 374.5% in the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after acquiring an additional 1,322 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HBAN. DA Davidson dropped their target price on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, March 16th. Evercore dropped their target price on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, April 6th. The Goldman Sachs Group dropped their target price on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Wall Street Zen upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Barclays downgraded Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.05.

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.