Key Points
- EVP Marcy Hingst sold 10,568 shares of Huntington Bancshares at an average price of $18.00, for proceeds of about $190,224. The sale, filed with the SEC, was executed under a pre-arranged Rule 10b5-1 plan.
- Huntington Bancshares recently reported better-than-expected earnings, posting $0.37 per share versus analysts’ estimate of $0.16 and revenue of $2.59 billion versus $2.57 billion expected. The company also announced a quarterly dividend of $0.155 per share, implying a 3.5% annualized yield.
- Wall Street remains generally positive on HBAN, with an average Moderate Buy rating and a consensus price target of $20.05. The stock was trading around $17.79, below the analysts’ average target.
Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) EVP Marcy Hingst sold 10,568 shares of the company's stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the sale, the executive vice president directly owned 267,859 shares of the company's stock, valued at $4,821,462. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Huntington Bancshares Trading Down 0.6%
NASDAQ:HBAN opened at $17.79 on Friday. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45. The firm has a 50-day moving average price of $16.50 and a two-hundred day moving average price of $16.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a market cap of $36.06 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 0.81 and a beta of 0.94.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.21. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same quarter in the previous year, the business earned $0.34 EPS. On average, equities analysts expect that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current fiscal year.
Huntington Bancshares Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date is Wednesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.5%. Huntington Bancshares's dividend payout ratio is presently 47.69%.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Basecamp Wealth Advisors LLC boosted its position in shares of Huntington Bancshares by 57.8% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 5,333 shares of the bank's stock valued at $83,000 after acquiring an additional 1,953 shares during the last quarter. Ballast Advisors LLC bought a new stake in Huntington Bancshares during the first quarter valued at approximately $71,000. Curry Webb Wealth Management LLC purchased a new position in Huntington Bancshares in the 1st quarter worth approximately $3,204,000. Carlson Capital L.P. increased its holdings 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 worth $4,452,000 after buying an additional 172,182 shares during the last quarter. Finally, Glenmede Trust Co. NA raised 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 valued at $1,254,000 after buying an additional 2,986 shares in the last quarter. Institutional investors own 80.72% of the company's stock.
Analysts Set New Price Targets
HBAN has been the topic of several research reports. Stephens initiated coverage on Huntington Bancshares in a research note on Monday, June 15th. They issued an "equal weight" rating and a $19.00 target price on the stock. Evercore reiterated an "outperform" rating and set a $20.00 price target on shares of Huntington Bancshares in a research note on Friday, June 12th. Truist Financial dropped their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set a "buy" rating on the stock in a report on Friday, March 13th. Jefferies Financial Group boosted their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Finally, Royal Bank Of Canada reduced their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set an "outperform" rating for the company in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Huntington Bancshares has an average rating of "Moderate Buy" and an average target price of $20.05.
Get Our Latest Stock Analysis on HBAN
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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