James Rollins III Acquires 11,127 Shares of Huntington Bancshares (NASDAQ:HBAN) Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director James Rollins III bought 11,127 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were bought at an average cost of $16.50 per share, for a total transaction of $183,595.50. Following the transaction, the director owned 11,127 shares of the company’s stock, valued at $183,595.50. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Huntington Bancshares Stock Down 0.1%

Shares of NASDAQ:HBAN opened at $16.52 on Friday. The stock has a market cap of $33.49 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 0.75 and a beta of 0.94. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. Huntington Bancshares Incorporated has a 12-month low of $14.89 and a 12-month high of $19.45. The business’s 50 day moving average is $16.14 and its 200 day moving average is $16.78.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.21. The business had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same period last year, the company posted $0.34 earnings per share. On average, sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is 47.69%.

Institutional Trading of Huntington Bancshares

Hedge funds have recently made changes to their positions in the company. MV Capital Management Inc. bought a new stake in shares of Huntington Bancshares during the 4th quarter valued at $25,000. Palisade Asset Management LLC bought a new stake in shares of Huntington Bancshares during the 3rd quarter valued at $26,000. South Plains Financial Inc. raised its stake in shares of Huntington Bancshares by 116.3% during the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after purchasing an additional 826 shares during the period. Centennial Bank AR bought a new stake in shares of Huntington Bancshares during the 4th quarter valued at $28,000. Finally, Accredited Wealth Management LLC raised its stake in shares of Huntington Bancshares by 374.5% during the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,322 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HBAN has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. The Goldman Sachs Group dropped their price target on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Evercore dropped their price target on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, April 6th. Wolfe Research dropped their price target on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. Finally, Truist Financial lowered their target price on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.05.

Huntington Bancshares Company Profile

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.