Huntington Bancshares (NASDAQ:HBAN) Director Purchases $10,700.00 in Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director James Rollins III bought 500 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was purchased at an average cost of $21.40 per share, for a total transaction of $10,700.00. Following the completion of the acquisition, the director owned 4,500 shares in the company, valued at $96,300. This trade represents a 12.50% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $16.68 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average price is $17.73 and its two-hundred day moving average price is $17.08. The company has a market cap of $33.86 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 0.68 and a beta of 0.95. Huntington Bancshares Incorporated has a twelve month low of $11.91 and a twelve month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. On average, analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Wednesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 44.60%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on HBAN shares. Evercore started coverage on shares of Huntington Bancshares in a research note on Tuesday, February 3rd. They issued an “outperform” rating and a $21.00 price target on the stock. Zacks Research downgraded Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. Morgan Stanley increased their target price on Huntington Bancshares from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday. Piper Sandler boosted their price target on Huntington Bancshares from $16.00 to $17.00 and gave the company an “underweight” rating in a research note on Thursday, January 22nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Huntington Bancshares in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.64.

Hedge Funds Weigh In On Huntington Bancshares

Institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in shares of Huntington Bancshares by 4,265.5% during the fourth quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock valued at $1,215,955,000 after purchasing an additional 68,478,435 shares in the last quarter. Norges Bank bought a new stake in Huntington Bancshares in the fourth quarter valued at $432,584,000. Vanguard Group Inc. raised its stake in Huntington Bancshares by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock worth $3,319,385,000 after buying an additional 14,338,222 shares during the period. Junto Capital Management LP acquired a new stake in Huntington Bancshares in the 3rd quarter valued at $85,690,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Huntington Bancshares by 15.7% during the third quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank’s stock valued at $594,054,000 after buying an additional 4,640,302 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.