Key Points
- Director James Rollins III bought 14,000 Huntington Bancshares shares at $18.12 each, investing $253,680 and increasing his direct stake by 933.33% to 15,500 shares.
- Huntington reported quarterly EPS of $0.38, matching analyst estimates, while revenue of $2.79 billion fell slightly short of the $2.82 billion consensus.
- The bank declared a quarterly dividend of $0.155 per share, or $0.62 annualized, representing a 3.9% yield; analysts’ overall rating remains “Moderate Buy,” with an average price target of $18.95.
Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) Director James Rollins III acquired 14,000 shares of the business's stock in a transaction dated Monday, October 26th. The shares were bought at an average cost of $18.12 per share, for a total transaction of $253,680.00. Following the transaction, the director directly owned 15,500 shares of the company's stock, valued at approximately $280,860. This trade represents a 933.33% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Huntington Bancshares Stock Down 0.1%
Shares of NASDAQ HBAN opened at $15.70 on Thursday. The stock has a market cap of $31.72 billion, a P/E ratio of 12.98, a PEG ratio of 1.00 and a beta of 0.95. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59. Huntington Bancshares Incorporated has a 12-month low of $14.82 and a 12-month high of $19.45. The business's fifty day simple moving average is $16.01 and its 200-day simple moving average is $16.72.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its earnings results on Thursday, October 22nd. The bank reported $0.38 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.38. Huntington Bancshares had a return on equity of 10.93% and a net margin of 16.28%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period last year, the business posted $0.41 earnings per share. As a group, equities analysts predict that Huntington Bancshares Incorporated will post 1.55 EPS for the current fiscal year.
Huntington Bancshares Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Friday, December 18th will be given a $0.1550 dividend. The ex-dividend date of this dividend is Friday, December 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.9%. Huntington Bancshares's dividend payout ratio (DPR) is currently 51.24%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the company. Wells Fargo & Company decreased their price objective on Huntington Bancshares from $21.00 to $19.00 and set an "overweight" rating for the company in a research note on Friday, October 23rd. Zacks Research cut shares of Huntington Bancshares from a "hold" rating to a "strong sell" rating in a report on Monday, October 5th. Morgan Stanley cut shares of Huntington Bancshares from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $21.00 to $19.00 in a report on Friday, July 24th. JPMorgan Chase & Co. decreased their price target on shares of Huntington Bancshares from $19.50 to $17.50 and set an "overweight" rating for the company in a research note on Friday, October 2nd. Finally, Robert W. Baird lowered their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set an "outperform" rating for the company in a report on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Huntington Bancshares currently has an average rating of "Moderate Buy" and an average target price of $18.95.
Check Out Our Latest Analysis on Huntington Bancshares
Hedge Funds Weigh In On Huntington Bancshares
Several large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Huntington Bancshares during the second quarter worth approximately $3,134,426,000. Bank of America Corp DE acquired a new position in Huntington Bancshares in the second quarter valued at approximately $256,772,000. Bank of New York Mellon Corp acquired a new position in Huntington Bancshares in the second quarter valued at approximately $229,246,000. Legal & General Group Plc purchased a new position in Huntington Bancshares in the second quarter valued at approximately $213,096,000. Finally, Assenagon Asset Management S.A. increased its stake in Huntington Bancshares by 565.0% in the third quarter. Assenagon Asset Management S.A. now owns 8,926,745 shares of the bank's stock valued at $136,222,000 after purchasing an additional 7,584,294 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company's stock.
Huntington Bancshares Company Profile
(
Get Free Report)
Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.
The company's offerings include checking and savings accounts, consumer and residential lending, credit cards, auto finance, mortgages, commercial loans, treasury management, investment and wealth management services, insurance, and other financial solutions.
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