Huntington Bancshares (NASDAQ:HBAN) Director Purchases $183,595.50 in Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director James Rollins III bought 11,127 shares of Huntington Bancshares stock in a transaction dated Tuesday, June 2nd. The shares were bought at an average price of $16.50 per share, for a total transaction of $183,595.50. Following the completion of the transaction, the director directly owned 11,127 shares of the company’s stock, valued at $183,595.50. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

Huntington Bancshares Trading Up 3.8%

NASDAQ HBAN traded up $0.60 during trading hours on Thursday, hitting $16.53. The company’s stock had a trading volume of 18,915,141 shares, compared to its average volume of 29,181,393. The stock has a fifty day moving average of $16.10 and a 200 day moving average of $16.78. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45. The firm has a market capitalization of $33.51 billion, a P/E ratio of 12.72, a PEG ratio of 0.74 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 (NASDAQ:HBAN) last posted its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.21. The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same period last year, the business posted $0.34 earnings per share. Equities research analysts forecast that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating on the stock in a report on Thursday, April 30th. DA Davidson cut their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, March 16th. National Bank Financial set a $21.00 target price on shares of Huntington Bancshares in a report on Wednesday, February 4th. Wall Street Zen upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Wolfe Research lowered their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.05.

Institutional Investors Weigh In On Huntington Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Carlson Capital L.P. raised its holdings in shares of Huntington Bancshares by 153.3% during the first quarter. Carlson Capital L.P. now owns 284,482 shares of the bank’s stock worth $4,452,000 after acquiring an additional 172,182 shares during the period. Glenmede Trust Co. NA raised its holdings in shares of Huntington Bancshares by 3.9% during the first quarter. Glenmede Trust Co. NA now owns 80,114 shares of the bank’s stock worth $1,254,000 after acquiring an additional 2,986 shares during the period. Vestor Capital LLC raised its holdings in shares of Huntington Bancshares by 13.0% during the first quarter. Vestor Capital LLC now owns 5,636 shares of the bank’s stock worth $88,000 after acquiring an additional 648 shares during the period. Norris Financial Group LLC acquired a new stake in shares of Huntington Bancshares during the first quarter worth $298,000. Finally, Western Wealth Management LLC acquired a new stake in shares of Huntington Bancshares during the first quarter worth $44,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

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.