Key Points
- Insider sale: Kendall Kowalski sold 1,547 shares on December 11 at an average price of $17.93 for a total of $27,737.71, reducing his stake to 115,643 shares (a 1.32% decrease), as disclosed in an SEC filing.
- Quarterly dividend: Huntington declared a $0.155 per share quarterly dividend (annualized $0.62) payable January 2 with an ex-dividend date of December 18, implying a yield of about 3.5% and a payout ratio of 43.36%.
- Fundamentals and analyst view: HBAN trades near $17.74 (12-month high $18.04), has a P/E of 12.41 and reported $0.67 EPS for the quarter, while analysts hold a "Moderate Buy" consensus with an average price target of $19.64.
Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) insider Kendall Kowalski sold 1,547 shares of the business's stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $17.93, for a total transaction of $27,737.71. Following the completion of the sale, the insider owned 115,643 shares of the company's stock, valued at approximately $2,073,478.99. This represents a 1.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.
Huntington Bancshares Stock Down 0.4%
Shares of NASDAQ HBAN opened at $17.74 on Tuesday. Huntington Bancshares Incorporated has a 12-month low of $11.91 and a 12-month high of $18.04. The stock's fifty day simple moving average is $16.09 and its two-hundred day simple moving average is $16.57. The stock has a market capitalization of $25.89 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 0.67 and a beta of 0.96. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.89.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings results on Monday, December 1st. The bank reported $0.67 EPS for the quarter. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%.The firm had revenue of $580.00 million during the quarter. As a group, analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.
Huntington Bancshares Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Thursday, December 18th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Thursday, December 18th. Huntington Bancshares's dividend payout ratio is presently 43.36%.
Hedge Funds Weigh In On Huntington Bancshares
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Huntington Bancshares by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 176,980,819 shares of the bank's stock valued at $3,056,459,000 after purchasing an additional 680,601 shares during the last quarter. Boston Partners lifted its holdings in shares of Huntington Bancshares by 3.9% during the third quarter. Boston Partners now owns 63,302,953 shares of the bank's stock worth $1,091,615,000 after purchasing an additional 2,363,905 shares during the period. Invesco Ltd. boosted its position in Huntington Bancshares by 1.5% in the third quarter. Invesco Ltd. now owns 59,062,922 shares of the bank's stock valued at $1,020,017,000 after buying an additional 861,263 shares during the last quarter. Geode Capital Management LLC boosted its position in Huntington Bancshares by 1.7% in the second quarter. Geode Capital Management LLC now owns 39,450,879 shares of the bank's stock valued at $658,541,000 after buying an additional 640,852 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Huntington Bancshares by 15.7% in the 3rd quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank's stock worth $594,054,000 after buying an additional 4,640,302 shares during the period. Hedge funds and other institutional investors own 80.72% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on HBAN shares. Zacks Research downgraded shares of Huntington Bancshares from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 2nd. Citigroup raised their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a "buy" rating in a research note on Friday, September 19th. Morgan Stanley upped their price target on Huntington Bancshares from $19.00 to $23.00 and gave the stock an "overweight" rating in a research report on Monday, September 29th. Keefe, Bruyette & Woods raised their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the stock a "market perform" rating in a research report on Monday, October 20th. Finally, DA Davidson restated a "buy" rating and set a $21.00 target price on shares of Huntington Bancshares in a research note on Tuesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $19.64.
Check Out Our Latest Stock Analysis on HBAN
About Huntington Bancshares
(
Get Free Report)
Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.
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