Key Points
- SVP Donnell White sold 3,000 Huntington Bancshares shares for $47,610, reducing his direct ownership by 11.24% to 23,697 shares.
- Huntington reported quarterly EPS of $0.38, in line with estimates, while revenue of $2.79 billion fell short of the $2.82 billion consensus.
- The bank declared a quarterly dividend of $0.155 per share, equivalent to $0.62 annually and a 3.9% yield; analysts’ consensus rating is “Moderate Buy.”
Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) SVP Donnell White sold 3,000 shares of Huntington Bancshares stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $15.87, for a total value of $47,610.00. Following the sale, the senior vice president directly owned 23,697 shares of the company's stock, valued at approximately $376,071.39. This trade represents a 11.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Huntington Bancshares Price Performance
Shares of HBAN stock opened at $16.06 on Thursday. Huntington Bancshares Incorporated has a twelve month low of $14.82 and a twelve month high of $19.45. The stock has a market capitalization of $32.45 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 1.02 and a beta of 0.97. The stock has a fifty day simple moving average of $15.90 and a two-hundred day simple moving average of $16.68. 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 (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The bank reported $0.38 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.38. The business had revenue of $2.79 billion for 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 quarter in the prior year, the company earned $0.41 EPS. On average, analysts predict that Huntington Bancshares Incorporated will post 1.54 EPS for the current fiscal year.
Huntington Bancshares Announces Dividend
The firm 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 $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 is 51.24%.
Hedge Funds Weigh In On Huntington Bancshares
Large investors have recently added to or reduced their stakes in the company. Henrickson Nauta Wealth Advisors Inc. raised its stake in shares of Huntington Bancshares by 6.1% during the 2nd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 10,613 shares of the bank's stock worth $190,000 after acquiring an additional 608 shares in the last quarter. Vestor Capital LLC lifted its position in Huntington Bancshares by 13.0% during the first quarter. Vestor Capital LLC now owns 5,636 shares of the bank's stock valued at $88,000 after acquiring an additional 648 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in Huntington Bancshares by 5.9% in the second quarter. Rehmann Capital Advisory Group now owns 12,151 shares of the bank's stock valued at $215,000 after acquiring an additional 679 shares in the last quarter. Johnson Financial Group Inc. boosted its stake in Huntington Bancshares by 48.8% in the first quarter. Johnson Financial Group Inc. now owns 2,157 shares of the bank's stock valued at $34,000 after acquiring an additional 707 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in Huntington Bancshares by 10.1% in the third quarter. Versant Capital Management Inc now owns 7,693 shares of the bank's stock worth $117,000 after purchasing an additional 708 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the stock. Morgan Stanley cut shares of Huntington Bancshares from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $21.00 to $19.00 in a report on Friday, July 24th. UBS Group set a $18.00 price target on shares of Huntington Bancshares in a report on Tuesday, October 6th. Stephens reduced their price target on shares of Huntington Bancshares from $19.00 to $18.00 in a report on Tuesday, September 22nd. Wolfe Research cut shares of Huntington Bancshares from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, October 27th. Finally, Citigroup 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 research note on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.98.
Check Out Our Latest Report on Huntington Bancshares
About Huntington Bancshares
(
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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