Insider Selling: Huntington Bancshares Incorporated (NASDAQ:HBAN) CFO Sells 30,000 Shares of Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) CFO Zachary Jacob Wasserman sold 30,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total transaction of $409,800.00. Following the completion of the transaction, the chief financial officer now owns 305,884 shares in the company, valued at approximately $4,178,375.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Huntington Bancshares Trading Down 0.2 %

NASDAQ:HBAN opened at $13.55 on Friday. Huntington Bancshares Incorporated has a one year low of $9.13 and a one year high of $14.07. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88. The company’s 50-day simple moving average is $13.36 and its 200 day simple moving average is $12.27. The firm has a market capitalization of $19.62 billion, a P/E ratio of 12.21, a PEG ratio of 2.50 and a beta of 1.11.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Friday, April 19th. The bank reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.74 billion. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. During the same quarter in the previous year, the firm posted $0.38 earnings per share. As a group, analysts forecast that Huntington Bancshares Incorporated will post 1.22 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be paid a $0.155 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.62 annualized dividend and a dividend yield of 4.58%. Huntington Bancshares’s dividend payout ratio is presently 55.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on HBAN shares. Keefe, Bruyette & Woods boosted their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Bank of America upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their price target for the company from $14.00 to $16.00 in a research report on Monday, April 8th. Royal Bank of Canada boosted their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, April 9th. Morgan Stanley reiterated an “overweight” rating and set a $16.00 price target on shares of Huntington Bancshares in a research report on Monday, April 22nd. Finally, UBS Group upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their price target for the company from $14.00 to $15.00 in a research report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.17.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. California Public Employees Retirement System lifted its stake in shares of Huntington Bancshares by 2.3% in the third quarter. California Public Employees Retirement System now owns 2,794,810 shares of the bank’s stock worth $29,066,000 after buying an additional 62,674 shares in the last quarter. Comerica Bank bought a new position in shares of Huntington Bancshares in the third quarter worth approximately $5,261,000. Vest Financial LLC lifted its stake in shares of Huntington Bancshares by 16.5% in the fourth quarter. Vest Financial LLC now owns 1,000,872 shares of the bank’s stock worth $12,731,000 after buying an additional 141,410 shares in the last quarter. Lindbrook Capital LLC lifted its stake in shares of Huntington Bancshares by 43.4% in the fourth quarter. Lindbrook Capital LLC now owns 4,530 shares of the bank’s stock worth $58,000 after buying an additional 1,371 shares in the last quarter. Finally, Bank of Nova Scotia lifted its stake in shares of Huntington Bancshares by 199.6% in the third quarter. Bank of Nova Scotia now owns 374,289 shares of the bank’s stock worth $3,893,000 after buying an additional 249,356 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.