Huntington Bancshares (NASDAQ:HBAN) Director Sells $3,878,106.70 in Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director James Rollins III sold 223,522 shares of the firm’s stock in a transaction on 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 transaction, the director owned 612,155 shares in the company, valued at approximately $10,620,889.25. This represents a 26.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Huntington Bancshares Stock Up 0.1%

NASDAQ:HBAN opened at $16.86 on Friday. Huntington Bancshares Incorporated has a 1-year low of $14.89 and a 1-year high of $19.45. The company has a 50-day moving average of $16.39 and a 200 day moving average of $16.86. The firm has a market cap of $34.18 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 0.77 and a beta of 0.94. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. The company had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period in the prior year, the business earned $0.34 EPS. As a group, research analysts anticipate that Huntington Bancshares Incorporated will post 1.61 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be paid a dividend of $0.155 per share. The ex-dividend date is Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.7%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.69%.

Institutional Investors Weigh In On Huntington Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of HBAN. MV Capital Management Inc. purchased a new position in Huntington Bancshares in the fourth quarter worth $25,000. Palisade Asset Management LLC purchased a new stake in shares of Huntington Bancshares during the 3rd quarter valued at $26,000. South Plains Financial Inc. boosted its position 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 worth $27,000 after purchasing an additional 826 shares in the last quarter. Centennial Bank AR purchased a new position in Huntington Bancshares during the 4th quarter worth $28,000. Finally, Accredited Wealth Management LLC grew 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 buying an additional 1,322 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Stephens initiated coverage on shares of Huntington Bancshares in a research note on Monday. They issued an “equal weight” rating and a $19.00 price objective for the company. 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 research report on Monday, April 6th. Barclays downgraded Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. JPMorgan Chase & Co. reduced their price target on Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Finally, Evercore restated an “outperform” rating and set a $20.00 price objective on shares of Huntington Bancshares in a research note on Friday, June 12th. One equities research 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 issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.