Key Points
- Director Gary Torgow purchased 12,700 Huntington Bancshares shares at an average price of $15.73, investing approximately $199,771 and increasing his direct ownership to 956,041 shares.
- Huntington Bancshares reported quarterly EPS of $0.38, matching analyst expectations, while revenue of $2.79 billion fell slightly short of the $2.82 billion consensus estimate.
- The bank declared a quarterly dividend of $0.155 per share, equivalent to an annualized $0.62 payout and a 3.9% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $18.95.
Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) Director Gary Torgow acquired 12,700 shares of Huntington Bancshares stock in a transaction on Tuesday, October 27th. The shares were bought at an average cost of $15.73 per share, for a total transaction of $199,771.00. Following the completion of the purchase, the director directly owned 956,041 shares of the company's stock, valued at $15,038,524.93. The trade was a 1.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Huntington Bancshares Price Performance
Huntington Bancshares stock opened at $15.97 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average price of $15.98 and a 200-day moving average price of $16.71. Huntington Bancshares Incorporated has a 12-month low of $14.82 and a 12-month high of $19.45. The firm has a market capitalization of $32.27 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 1.01 and a beta of 0.95.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its earnings results on Thursday, October 22nd. The bank reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. Huntington Bancshares had a return on equity of 10.93% and a net margin of 16.28%. During the same period last year, the company earned $0.41 earnings per share. As a group, equities research analysts forecast that Huntington Bancshares Incorporated will post 1.54 EPS for the current year.
Huntington Bancshares Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Friday, December 18th will be paid a dividend of $0.1550 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, December 18th. Huntington Bancshares's dividend payout ratio is 51.24%.
Wall Street Analyst Weigh In
HBAN has been the subject of several research analyst reports. Jefferies Financial Group decreased their price objective on shares of Huntington Bancshares from $18.00 to $17.00 and set a "hold" rating for the company in a research report on Thursday, September 24th. Wells Fargo & Company dropped their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set an "overweight" rating on the stock in a report on Friday, October 23rd. Zacks Research lowered Huntington Bancshares from a "hold" rating to a "strong sell" rating in a research report on Monday, October 5th. UBS Group set a $18.00 price objective on shares of Huntington Bancshares in a report on Tuesday, October 6th. Finally, Wolfe Research cut Huntington Bancshares from an "outperform" rating to a "peer perform" rating in a research report on Tuesday. One investment 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $18.95.
Check Out Our Latest Stock Report on Huntington Bancshares
Hedge Funds Weigh In On Huntington Bancshares
Several institutional investors and hedge funds have recently bought and sold shares of HBAN. Trust Co. of Vermont purchased a new stake in shares of Huntington Bancshares during the 2nd quarter valued at approximately $29,000. TD Waterhouse Canada Inc. lifted its holdings in Huntington Bancshares by 90.7% in the third quarter. TD Waterhouse Canada Inc. now owns 1,682 shares of the bank's stock valued at $26,000 after acquiring an additional 800 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in Huntington Bancshares in the second quarter worth approximately $31,000. N.E.W. Advisory Services LLC purchased a new position in Huntington Bancshares in the second quarter worth approximately $35,000. Finally, Livelsberger Financial Advisory acquired a new stake in Huntington Bancshares during the third quarter worth $31,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.
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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