Insider Buying: Huntington Bancshares (NASDAQ:HBAN) Director Purchases 1,127 Shares of Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director James Rollins III purchased 1,127 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was bought at an average price of $25.39 per share, with a total value of $28,614.53. Following the acquisition, the director directly owned 4,000 shares in the company, valued at approximately $101,560. This represents a 39.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Huntington Bancshares Price Performance

HBAN traded down $0.19 on Monday, hitting $16.12. 39,493,730 shares of the company were exchanged, compared to its average volume of 36,461,992. The business’s fifty day moving average is $17.70 and its 200 day moving average is $17.08. Huntington Bancshares Incorporated has a fifty-two week low of $11.91 and a fifty-two week high of $19.45. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a market capitalization of $32.72 billion, a P/E ratio of 11.60, a price-to-earnings-growth ratio of 0.66 and a beta of 0.95.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. During the same period in the previous year, the business earned $0.34 earnings per share. As a group, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.8%. Huntington Bancshares’s dividend payout ratio is presently 44.60%.

Institutional Trading of Huntington Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MTM Investment Management LLC acquired a new position in Huntington Bancshares during the 2nd quarter worth $25,000. MV Capital Management Inc. bought a new stake in Huntington Bancshares in the fourth quarter valued at about $25,000. Palisade Asset Management LLC bought a new position in Huntington Bancshares during the 3rd quarter worth approximately $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. Finally, Centennial Bank AR bought a new position in Huntington Bancshares during the fourth quarter worth $28,000. Institutional investors own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on HBAN shares. Truist Financial lifted their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, January 26th. National Bank Financial set a $21.00 price target on Huntington Bancshares in a research note on Wednesday, February 4th. Wall Street Zen downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Barclays boosted their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. Finally, Stephens lifted their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.78.

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.