Key Points
- Director purchase: Huntington director James Rollins III bought 1,127 shares on March 9 at an average price of $25.39 for $28,614.53, increasing his direct stake to 4,000 shares (a 39.23% rise), as disclosed in an SEC filing.
- Dividend announced: The company declared a quarterly dividend of $0.155 per share (annualized $0.62) with an ex-dividend/record date of March 18 and payable April 1, implying a yield of about 3.8% and a payout ratio of 44.6%.
- Analyst view: HBAN has a consensus rating of "Moderate Buy" with an average price target of $20.78, and several firms recently raised their targets (e.g., Morgan Stanley to $23, Goldman Sachs and Evercore at $21).
Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) Director James Rollins III acquired 1,127 shares of the company's stock in a transaction that occurred on Monday, March 9th. The shares were acquired at an average cost of $25.39 per share, for a total transaction of $28,614.53. Following the purchase, the director directly owned 4,000 shares of the company's stock, valued at $101,560. This represents a 39.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.
Huntington Bancshares Price Performance
Shares of NASDAQ HBAN opened at $16.12 on Tuesday. 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 50 day simple moving average of $17.67 and a two-hundred day simple moving average of $17.08. The company has a market capitalization of $32.72 billion, a price-to-earnings ratio of 11.60, a P/E/G ratio of 0.66 and a beta of 0.95. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The business had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.21 billion. During the same quarter in the previous year, the business posted $0.34 earnings per share. Analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.
Huntington Bancshares Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be paid a dividend of $0.155 per share. The ex-dividend date is Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.8%. Huntington Bancshares's payout ratio is presently 44.60%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on HBAN shares. Evercore initiated coverage on Huntington Bancshares in a research note on Tuesday, February 3rd. They issued an "outperform" rating and a $21.00 target price on the stock. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $21.00 price target on shares of Huntington Bancshares in a research report on Tuesday, January 6th. Morgan Stanley upped their price target on shares of Huntington Bancshares from $21.00 to $23.00 and gave the stock an "overweight" rating in a research note on Monday, March 2nd. Raymond James Financial increased their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a "strong-buy" rating in a research report on Friday, January 23rd. Finally, Piper Sandler raised their price objective on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company an "underweight" rating in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $20.78.
Get Our Latest Stock Analysis on HBAN
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the business. MV Capital Management Inc. bought a new position in shares of Huntington Bancshares during the fourth quarter valued at $25,000. MTM Investment Management LLC bought a new stake in Huntington Bancshares in the 2nd quarter worth about $25,000. Palisade Asset Management LLC bought a new stake in Huntington Bancshares in the 3rd quarter worth about $26,000. South Plains Financial Inc. raised its position in 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 buying an additional 826 shares during the last quarter. Finally, Centennial Bank AR purchased a new position in Huntington Bancshares in the 4th quarter worth about $28,000. Hedge funds and other institutional investors own 80.72% of the company's stock.
Huntington Bancshares Company Profile
(
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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