Huntington Bancshares (NASDAQ:HBAN) Director Acquires $199,771.00 in Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director Gary Torgow acquired 12,700 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, October 27th. The stock was purchased at an average cost of $15.73 per share, for a total transaction of $199,771.00. Following the completion of the transaction, the director directly owned 956,041 shares in the company, valued at $15,038,524.93. This trade represents a 1.35% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Huntington Bancshares Trading Up 1.7%

HBAN stock traded up $0.27 during mid-day trading on Thursday, reaching $15.97. The company had a trading volume of 17,271,910 shares, compared to its average volume of 27,141,742. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $32.27 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 1.00 and a beta of 0.95. The firm has a 50 day moving average of $16.01 and a 200 day moving average of $16.72. Huntington Bancshares Incorporated has a 12 month low of $14.82 and a 12 month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, October 22nd. The bank reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. Huntington Bancshares had a net margin of 16.28% and a return on equity of 10.93%. During the same period last year, the firm earned $0.41 earnings per share. On average, equities analysts predict that Huntington Bancshares Incorporated will post 1.55 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Friday, December 18th will be paid a dividend of $0.1550 per share. This represents a $0.62 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, December 18th. Huntington Bancshares’s payout ratio is 51.24%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HBAN. Bank Julius Baer & Co. Ltd Zurich grew its position in Huntington Bancshares by 2.8% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,514,427 shares of the bank’s stock valued at $84,165,000 after purchasing an additional 150,791 shares in the last quarter. Greenleaf Trust lifted its position in shares of Huntington Bancshares by 6.0% during the 3rd quarter. Greenleaf Trust now owns 438,477 shares of the bank’s stock worth $6,691,000 after purchasing an additional 24,974 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Huntington Bancshares in the third quarter valued at $7,782,000. Profund Advisors LLC lifted its holdings in shares of Huntington Bancshares by 6.4% during the 3rd quarter. Profund Advisors LLC now owns 24,410 shares of the bank’s stock worth $372,000 after acquiring an additional 1,462 shares during the period. Finally, Investment Partners LTD. boosted its holdings in Huntington Bancshares by 125.7% during the third quarter. Investment Partners LTD. now owns 123,165 shares of the bank’s stock valued at $1,880,000 after purchasing an additional 68,606 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wells Fargo & Company decreased their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, October 23rd. Truist Financial dropped their price target on shares of Huntington Bancshares from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday. DA Davidson decreased their target price on Huntington Bancshares from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, September 21st. Wolfe Research lowered Huntington Bancshares from an “outperform” rating to a “peer perform” rating in a research note on Tuesday. Finally, Stephens cut their price objective on shares of Huntington Bancshares from $19.00 to $18.00 in a report on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $18.95.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and residential lending, credit cards, auto finance, mortgages, commercial loans, treasury management, investment and wealth management services, insurance, and other financial solutions.