Key Points
- Brendan Lawlor, VP at Huntington Bancshares, sold 17,455 shares on Feb. 10 at an average price of $18.93 for about $330,423, cutting his position by 29.16% to 42,398 shares.
- Huntington declared a quarterly dividend of $0.155 per share (annualized $0.62) with a 3.6% yield, payable April 1 to shareholders of record on March 18 (ex-dividend March 18).
- The bank missed the latest quarter's estimates (EPS $0.37 vs. $0.40 consensus; revenue $1.61B vs. $2.21B) but Wall Street remains largely positive with a "Moderate Buy" consensus and a $20.60 price target; market cap is about $27.3B and P/E ~12.5.
Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) VP Brendan Lawlor sold 17,455 shares of the company's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $18.93, for a total value of $330,423.15. Following the completion of the transaction, the vice president directly owned 42,398 shares in the company, valued at $802,594.14. The trade was a 29.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Huntington Bancshares Stock Performance
NASDAQ:HBAN opened at $17.33 on Friday. The stock has a 50 day simple moving average of $17.83 and a 200 day simple moving average of $16.99. The stock has a market cap of $27.29 billion, a P/E ratio of 12.47, a PEG ratio of 0.72 and a beta of 0.96. Huntington Bancshares Incorporated has a 1-year low of $11.91 and a 1-year high of $19.45. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted 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 $1.61 billion for the quarter, compared to the consensus estimate of $2.21 billion. Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.During the same quarter in the previous year, the business earned $0.34 EPS. Research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.
Huntington Bancshares Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th 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 3.6%. The ex-dividend date is Wednesday, March 18th. Huntington Bancshares's dividend payout ratio is presently 44.60%.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on HBAN shares. JPMorgan Chase & Co. boosted their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company an "overweight" rating in a research note on Monday. DA Davidson reaffirmed a "buy" rating and set a $21.00 price objective on shares of Huntington Bancshares in a research report on Tuesday, October 28th. National Bank Financial set a $21.00 price objective on shares of Huntington Bancshares in a research note on Wednesday, February 4th. Royal Bank Of Canada restated an "outperform" rating and issued a $21.00 target price on shares of Huntington Bancshares in a research report on Monday, January 12th. Finally, Evercore assumed coverage on shares of Huntington Bancshares in a research report on Tuesday, February 3rd. They set an "outperform" rating and a $21.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $20.60.
Read Our Latest Research Report on HBAN
Institutional Trading of Huntington Bancshares
Hedge funds and other institutional investors have recently modified their holdings of the stock. Empowered Funds LLC grew its position in Huntington Bancshares by 5.0% during the 1st quarter. Empowered Funds LLC now owns 28,888 shares of the bank's stock worth $434,000 after acquiring an additional 1,366 shares during the last quarter. Woodline Partners LP boosted its stake in shares of Huntington Bancshares by 40.8% during the first quarter. Woodline Partners LP now owns 122,821 shares of the bank's stock valued at $1,844,000 after purchasing an additional 35,574 shares in the last quarter. Callan Family Office LLC acquired a new stake in shares of Huntington Bancshares during the second quarter valued at about $353,000. Concurrent Investment Advisors LLC grew its holdings in shares of Huntington Bancshares by 9.1% during the second quarter. Concurrent Investment Advisors LLC now owns 12,055 shares of the bank's stock worth $202,000 after purchasing an additional 1,004 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of Huntington Bancshares by 26.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 167,515 shares of the bank's stock valued at $2,808,000 after buying an additional 35,014 shares during the period. Institutional investors own 80.72% of the company's stock.
Huntington Bancshares Company Profile
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Get Free Report)
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.
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