Insider Buying: Huntington Bancshares (NASDAQ:HBAN) Director Purchases 14,200 Shares of Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director Gary Torgow purchased 14,200 shares of the stock in a transaction on Thursday, February 19th. The stock was bought at an average price of $17.81 per share, for a total transaction of $252,902.00. Following the completion of the transaction, the director directly owned 943,341 shares of the company’s stock, valued at approximately $16,800,903.21. This trade represents a 1.53% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN traded down $0.93 during midday trading on Monday, reaching $17.08. 24,767,065 shares of the company traded hands, compared to its average volume of 39,226,984. Huntington Bancshares Incorporated has a 12 month low of $11.91 and a 12 month high of $19.45. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93. The stock’s 50-day simple moving average is $17.86 and its 200-day simple moving average is $17.05. The firm has a market cap of $34.67 billion, a PE ratio of 12.29, a PEG ratio of 0.73 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.21 billion. Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.During the same quarter last year, the business earned $0.34 EPS. As a group, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.6%. Huntington Bancshares’s dividend payout ratio is currently 44.60%.

Institutional Investors Weigh In On Huntington Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the company. Empowered Funds LLC increased its holdings in Huntington Bancshares by 5.0% in the 1st quarter. Empowered Funds LLC now owns 28,888 shares of the bank’s stock valued at $434,000 after buying an additional 1,366 shares during the period. Woodline Partners LP boosted its position in shares of Huntington Bancshares by 40.8% during the 1st quarter. Woodline Partners LP now owns 122,821 shares of the bank’s stock worth $1,844,000 after acquiring an additional 35,574 shares in the last quarter. D.A. Davidson & CO. increased its stake in Huntington Bancshares by 26.8% in the second quarter. D.A. Davidson & CO. now owns 91,886 shares of the bank’s stock valued at $1,540,000 after acquiring an additional 19,435 shares during the last quarter. R Squared Ltd bought a new position in Huntington Bancshares in the second quarter valued at approximately $206,000. Finally, Asset Management One Co. Ltd. raised its position in Huntington Bancshares by 1.9% during the second quarter. Asset Management One Co. Ltd. now owns 607,208 shares of the bank’s stock valued at $10,177,000 after purchasing an additional 11,123 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Analysts Set New Price Targets

HBAN has been the topic of several research reports. UBS Group set a $21.00 price objective on Huntington Bancshares in a report on Wednesday, February 4th. Morgan Stanley decreased their price objective on shares of Huntington Bancshares from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. Truist Financial increased their price target on Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Piper Sandler increased their price objective on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock an “underweight” rating in a research report on Thursday, January 22nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $21.00 price target on shares of Huntington Bancshares in a research note on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.60.

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.