Huntington Bancshares Incorporated (NASDAQ:HBAN) was the target of a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 26,492,700 shares, a growth of 16.1% from the June 30th total of 22,816,600 shares. Based on an average trading volume of 9,350,000 shares, the short-interest ratio is presently 2.8 days. Approximately 2.6% of the shares of the stock are sold short.
A number of research firms have commented on HBAN. Nomura set a $14.00 price target on Huntington Bancshares and gave the company a “hold” rating in a research report on Friday, July 26th. Argus began coverage on Huntington Bancshares in a research report on Friday, May 31st. They issued a “hold” rating on the stock. BidaskClub lowered Huntington Bancshares from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Zacks Investment Research upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, May 21st. Finally, BMO Capital Markets lowered Huntington Bancshares from a “market perform” rating to an “underperform” rating and set a $14.00 price target on the stock. in a research report on Monday, July 8th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $15.63.
Shares of Huntington Bancshares stock traded down $0.46 on Wednesday, hitting $12.45. 5,624,360 shares of the company’s stock traded hands, compared to its average volume of 11,488,949. Huntington Bancshares has a one year low of $11.12 and a one year high of $16.52. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.90 and a quick ratio of 0.90. The firm’s fifty day moving average price is $13.70. The company has a market cap of $13.23 billion, a P/E ratio of 10.37, a price-to-earnings-growth ratio of 1.42 and a beta of 1.40.
Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, July 25th. The bank reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. Huntington Bancshares had a return on equity of 14.23% and a net margin of 25.77%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the prior year, the company earned $0.30 EPS. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, analysts expect that Huntington Bancshares will post 1.3 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be given a dividend of $0.15 per share. This is a positive change from Huntington Bancshares’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 4.82%. Huntington Bancshares’s dividend payout ratio is presently 46.67%.
In other Huntington Bancshares news, EVP Paul G. Heller sold 33,772 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $13.08, for a total value of $441,737.76. Following the sale, the executive vice president now owns 458,479 shares in the company, valued at approximately $5,996,905.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nancy E. Maloney sold 2,604 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $14.57, for a total value of $37,940.28. Following the completion of the sale, the executive vice president now owns 80,103 shares in the company, valued at approximately $1,167,100.71. The disclosure for this sale can be found here. Insiders own 1.22% of the company’s stock.
Several institutional investors have recently made changes to their positions in HBAN. Brand Asset Management Group Inc. raised its stake in Huntington Bancshares by 300.0% during the 1st quarter. Brand Asset Management Group Inc. now owns 2,000 shares of the bank’s stock worth $59,000 after buying an additional 1,500 shares during the period. Cornerstone Advisors Inc. raised its stake in Huntington Bancshares by 106.5% during the 2nd quarter. Cornerstone Advisors Inc. now owns 2,305 shares of the bank’s stock worth $32,000 after buying an additional 1,189 shares during the period. Trustcore Financial Services LLC acquired a new position in Huntington Bancshares during the 1st quarter worth approximately $39,000. Destination Wealth Management acquired a new position in Huntington Bancshares during the 1st quarter worth approximately $46,000. Finally, Bremer Bank National Association acquired a new position in Huntington Bancshares during the 1st quarter worth approximately $53,000. Institutional investors own 76.23% of the company’s stock.
Huntington Bancshares Company Profile
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).
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