Huntington Bancshares (NASDAQ:HBAN) Director James Rollins III Purchases 6,873 Shares

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director James Rollins III acquired 6,873 shares of the company’s stock in a transaction on Friday, February 27th. The shares were bought at an average cost of $23.27 per share, with a total value of $159,934.71. Following the acquisition, the director directly owned 4,000 shares in the company, valued at approximately $93,080. The trade was a -239.23% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Huntington Bancshares Trading Down 1.3%

NASDAQ HBAN traded down $0.22 during trading hours on Tuesday, hitting $16.75. 24,779,315 shares of the company were exchanged, compared to its average volume of 30,456,282. The stock has a 50-day moving average price of $17.77 and a 200 day moving average price of $17.09. Huntington Bancshares Incorporated has a 52 week low of $11.91 and a 52 week high of $19.45. The stock has a market cap of $34.00 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 0.68 and a beta of 0.95. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly 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 net margin of 17.71% and a return on equity of 11.98%. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the previous year, the company posted $0.34 earnings per share. Analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal 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 of this dividend is Wednesday, March 18th. Huntington Bancshares’s payout ratio is currently 44.60%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HBAN. Stephens upped their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 18th. Zacks Research lowered Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. Argus upped their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. UBS Group set a $21.00 price target on Huntington Bancshares in a research note on Wednesday, February 4th. Finally, Truist Financial lifted their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a report on Monday, January 26th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.69.

Hedge Funds Weigh In On Huntington Bancshares

A number of large investors have recently added to or reduced their stakes in HBAN. S Harris Financial Group LLC purchased a new position in shares of Huntington Bancshares in the 4th quarter worth approximately $186,000. MidFirst Bank purchased a new stake in Huntington Bancshares during the fourth quarter valued at approximately $236,000. Kera Capital Partners Inc. acquired a new stake in Huntington Bancshares in the fourth quarter valued at approximately $241,000. MV Capital Management Inc. purchased a new position in Huntington Bancshares in the fourth quarter worth $25,000. Finally, Sunbelt Securities Inc. grew its holdings in Huntington Bancshares by 252.9% in the fourth quarter. Sunbelt Securities Inc. now owns 13,064 shares of the bank’s stock worth $227,000 after purchasing an additional 9,362 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

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.