Key Points
- Gary Torgow, a Huntington director, bought 14,200 shares on Feb. 19 at an average price of $17.81 (total ~$252,902), increasing his holdings to 943,341 shares (a 1.53% rise; holdings ~ $16.8M).
- Huntington's stock trades around $17 with a 50-day/200-day moving average of $17.85/$17.06, a market cap of $34.7B, P/E of 12.29, and a 12-month range of $11.91–$19.45.
- The bank declared a quarterly dividend of $0.155 (annualized $0.62) for a 3.6% yield, and analysts hold a consensus "Moderate Buy" rating with a $20.60 average price target.
Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) Director Gary Torgow bought 14,200 shares of the stock in a transaction on Thursday, February 19th. The shares were acquired at an average cost of $17.81 per share, with a total value of $252,902.00. Following the acquisition, the director directly owned 943,341 shares in the company, valued at approximately $16,800,903.21. This trade represents a 1.53% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Huntington Bancshares Stock Performance
HBAN stock opened at $17.08 on Tuesday. The business's fifty day moving average is $17.85 and its 200-day moving average is $17.06. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80. The company has a market cap of $34.67 billion, a P/E ratio of 12.29, a price-to-earnings-growth ratio of 0.73 and a beta of 0.96. Huntington Bancshares Incorporated has a twelve month low of $11.91 and a twelve month high of $19.45.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.03). The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.21 billion. Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.During the same period last year, the firm earned $0.34 earnings per share. Equities research analysts forecast 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. Stockholders of record on Wednesday, March 18th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Wednesday, March 18th. Huntington Bancshares's payout ratio is presently 44.60%.
Institutional Investors Weigh In On Huntington Bancshares
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Altrius Capital Management Inc bought a new position in shares of Huntington Bancshares in the 3rd quarter valued at $4,894,000. FineMark National Bank & Trust increased its holdings in Huntington Bancshares by 59.2% in the 2nd quarter. FineMark National Bank & Trust now owns 175,144 shares of the bank's stock worth $2,935,000 after purchasing an additional 65,144 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Huntington Bancshares in the third quarter valued at about $3,746,000. Midwest Trust Co boosted its stake in shares of Huntington Bancshares by 12.7% during the third quarter. Midwest Trust Co now owns 1,510,977 shares of the bank's stock valued at $26,095,000 after purchasing an additional 170,240 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Huntington Bancshares by 0.4% during the third quarter. Vanguard Group Inc. now owns 176,980,819 shares of the bank's stock worth $3,056,459,000 after purchasing an additional 680,601 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on HBAN. TD Cowen lifted their price objective on shares of Huntington Bancshares from $22.00 to $23.00 and gave the stock a "buy" rating in a research note on Tuesday, October 28th. National Bank Financial set a $21.00 target price on shares of Huntington Bancshares in a report on Wednesday, February 4th. Royal Bank Of Canada reissued an "outperform" rating and set a $21.00 price target on shares of Huntington Bancshares in a research report on Monday, January 12th. Wall Street Zen lowered shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a report on Saturday, November 15th. Finally, Argus raised their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Huntington Bancshares has a consensus rating of "Moderate Buy" and a consensus price target of $20.60.
View Our Latest Analysis on HBAN
About Huntington Bancshares
(
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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