Key Points
- Huntington VP Scott Kleinman sold 65,530 shares on March 12 at $15.28 for $1,001,298.40, reducing his stake by 11.98% to 481,676 shares (worth about $7.36 million).
- Huntington declared a quarterly dividend of $0.155 per share (ex-dividend date March 18, payable April 1), implying a $0.62 annualized payout and a 4.1% yield with a 44.6% payout ratio.
- Q4 results missed expectations: EPS $0.37 vs. $0.40 expected and revenue $1.61 billion vs. $2.21 billion expected; analysts rate the stock a "Moderate Buy" on average with a $20.63 price target.
Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) insider Prashant Nateri sold 10,171 shares of the firm's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $15.50, for a total value of $157,650.50. Following the completion of the sale, the insider directly owned 83,819 shares of the company's stock, valued at $1,299,194.50. The trade was a 10.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Huntington Bancshares Stock Performance
NASDAQ:HBAN opened at $15.28 on Tuesday. 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 firm's fifty day simple moving average is $17.47 and its 200 day simple moving average is $17.01. The stock has a market cap of $31.13 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 0.61 and a beta of 0.95. 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 released its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.03). The company had revenue of $1.61 billion during 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 period in the previous year, the company earned $0.34 earnings per share. As a group, research analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.
Huntington Bancshares Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Wednesday, March 18th. Huntington Bancshares's dividend payout ratio (DPR) is presently 44.60%.
Analyst Ratings Changes
Several brokerages recently weighed in on HBAN. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $21.00 price target on shares of Huntington Bancshares in a research note on Tuesday, January 6th. Evercore started coverage on Huntington Bancshares in a research report on Tuesday, February 3rd. They set an "outperform" rating and a $21.00 price objective for the company. Argus boosted their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, January 28th. Keefe, Bruyette & Woods reduced their target price on shares of Huntington Bancshares from $20.00 to $19.50 and set a "market perform" rating on the stock in a research report on Friday, January 23rd. Finally, Morgan Stanley increased 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. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $20.63.
Get Our Latest Report on Huntington Bancshares
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in HBAN. Altrius Capital Management Inc bought a new position in shares of Huntington Bancshares in the third quarter worth approximately $4,894,000. FineMark National Bank & Trust increased its position in shares of Huntington Bancshares by 59.2% during the second quarter. FineMark National Bank & Trust now owns 175,144 shares of the bank's stock valued at $2,935,000 after acquiring an additional 65,144 shares in the last quarter. Vanguard Group Inc. increased its position 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 valued at $3,056,459,000 after acquiring an additional 680,601 shares in the last quarter. Midwest Trust Co raised its holdings in Huntington Bancshares by 12.7% in the 3rd quarter. Midwest Trust Co now owns 1,510,977 shares of the bank's stock worth $26,095,000 after acquiring an additional 170,240 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in Huntington Bancshares in the 3rd quarter valued at approximately $3,746,000. Institutional investors own 80.72% of the company's stock.
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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