Huntington Bancshares (NASDAQ:HBAN) Director James Rollins III Buys 6,075 Shares

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director James Rollins III bought 6,075 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was bought at an average price of $19.79 per share, for a total transaction of $120,224.25. Following the completion of the purchase, the director owned 12,000 shares of the company’s stock, valued at approximately $237,480. The trade was a 102.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Huntington Bancshares Trading Up 3.8%

Shares of HBAN stock opened at $16.53 on Friday. 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 firm has a market cap of $33.51 billion, a P/E ratio of 12.72, a PEG ratio of 0.72 and a beta of 0.94. The company has a 50 day moving average of $16.12 and a 200-day moving average of $16.78. Huntington Bancshares Incorporated has a 12-month low of $14.89 and a 12-month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating 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 the consensus estimate of $2.57 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share. Sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio is currently 47.69%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in HBAN. Wellington Management Group LLP increased its position in shares of Huntington Bancshares by 4,265.5% during the fourth quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock valued at $1,215,955,000 after buying an additional 68,478,435 shares during the period. Norges Bank purchased a new position in Huntington Bancshares during the fourth quarter valued at approximately $432,584,000. Vanguard Group Inc. grew its stake in Huntington Bancshares by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock valued at $3,319,385,000 after acquiring an additional 14,338,222 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Huntington Bancshares by 27.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 23,480,601 shares of the bank’s stock worth $367,388,000 after acquiring an additional 5,026,894 shares during the period. Finally, Junto Capital Management LP purchased a new stake in Huntington Bancshares in the 3rd quarter worth approximately $85,690,000. Institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

HBAN has been the subject of several recent research reports. Piper Sandler raised Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price objective for the company in a report on Thursday, April 23rd. Truist Financial cut their target price on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Wall Street Zen upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Wolfe Research lowered their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 1st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.