Key Points
- Huntington Bancshares director James Rollins III bought 11,127 shares on June 2 at an average price of $16.50, a transaction worth about $183,596.
- The company recently reported strong quarterly earnings of $0.37 per share, topping Wall Street estimates of $0.16, while revenue also slightly beat expectations at $2.59 billion.
- Huntington announced a quarterly dividend of $0.155 per share, equal to an annualized yield of 3.8%, and analysts currently hold a Moderate Buy consensus with an average price target of $20.05.
Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) Director James Rollins III purchased 4,798 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, June 4th. The shares were bought at an average price of $20.30 per share, with a total value of $97,399.40. Following the transaction, the director owned 10,000 shares in the company, valued at approximately $203,000. The trade was a 92.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Huntington Bancshares Stock Up 3.8%
Shares of NASDAQ HBAN opened at $16.53 on Friday. Huntington Bancshares Incorporated has a 12-month low of $14.89 and a 12-month high of $19.45. The stock has a market cap of $33.51 billion, a PE ratio of 12.72, a P/E/G ratio of 0.72 and a beta of 0.94. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average of $16.12 and a 200 day moving average of $16.78.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. The company had revenue of $2.59 billion during the quarter, compared to analysts' expectations of $2.57 billion. During the same quarter in the prior year, the company earned $0.34 EPS. As a group, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.61 EPS for the current fiscal year.
Huntington Bancshares Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares's dividend payout ratio is currently 47.69%.
Analyst Ratings Changes
HBAN has been the subject of several research reports. Piper Sandler raised shares of Huntington Bancshares from a "strong sell" rating to a "hold" rating and set a $18.00 price objective for the company in a research note on Thursday, April 23rd. Truist Financial dropped their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, March 13th. Wall Street Zen raised shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. The Goldman Sachs Group dropped their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating for the company in a research note on Monday, April 6th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Huntington Bancshares from $19.00 to $18.50 and set an "overweight" rating for the company in a research note on Thursday, April 30th. One investment analyst has 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $20.05.
Read Our Latest Stock Analysis on HBAN
Institutional Trading of Huntington Bancshares
Several hedge funds have recently made changes to their positions in the company. Carlson Capital L.P. grew its stake in shares of Huntington Bancshares by 153.3% in the 1st quarter. Carlson Capital L.P. now owns 284,482 shares of the bank's stock valued at $4,452,000 after buying an additional 172,182 shares during the period. Glenmede Trust Co. NA boosted its position in shares of Huntington Bancshares by 3.9% during the 1st quarter. Glenmede Trust Co. NA now owns 80,114 shares of the bank's stock worth $1,254,000 after purchasing an additional 2,986 shares during the period. Vestor Capital LLC boosted its position in shares of Huntington Bancshares by 13.0% during the 1st quarter. Vestor Capital LLC now owns 5,636 shares of the bank's stock worth $88,000 after purchasing an additional 648 shares during the period. Norris Financial Group LLC purchased a new position in shares of Huntington Bancshares during the 1st quarter worth approximately $298,000. Finally, Western Wealth Management LLC purchased a new position in shares of Huntington Bancshares during the 1st quarter worth approximately $44,000. Hedge funds and other 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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