James Rollins III Purchases 4,798 Shares of Huntington Bancshares (NASDAQ:HBAN) Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director James Rollins III acquired 4,798 shares of the stock in a transaction on Thursday, June 4th. The shares were bought at an average cost of $20.30 per share, for a total transaction of $97,399.40. Following the purchase, the director directly owned 10,000 shares of the company’s stock, valued at $203,000. The trade was a 92.23% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $16.52 on Friday. The stock’s fifty day moving average is $16.14 and its two-hundred day moving average is $16.78. The firm has a market capitalization of $33.49 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 0.75 and a beta of 0.94. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. Huntington Bancshares Incorporated has a fifty-two week low of $14.89 and a fifty-two week high of $19.45.

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, topping analysts’ consensus estimates of $0.16 by $0.21. The company 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 quarter in the previous year, the company posted $0.34 earnings per share. On average, research analysts anticipate that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

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

Institutional Investors Weigh In On Huntington Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. MV Capital Management Inc. acquired a new position in Huntington Bancshares during the 4th quarter worth about $25,000. Palisade Asset Management LLC acquired a new position in Huntington Bancshares during the 3rd quarter worth about $26,000. South Plains Financial Inc. lifted its stake in Huntington Bancshares by 116.3% during the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after acquiring an additional 826 shares in the last quarter. Centennial Bank AR acquired a new position in Huntington Bancshares during the 4th quarter worth about $28,000. Finally, Accredited Wealth Management LLC lifted its stake in Huntington Bancshares by 374.5% during the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock worth $29,000 after acquiring an additional 1,322 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

HBAN has been the topic of a number of research analyst reports. Truist Financial reduced their target price on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Wolfe Research reduced their target price on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 1st. Evercore reduced their target price on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, April 6th. Jefferies Financial Group lifted their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Finally, Barclays downgraded Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average 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.