Huntington Bancshares (NASDAQ:HBAN) Director James Rollins III Buys 500 Shares of Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director James Rollins III acquired 500 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was purchased at an average price of $21.40 per share, for a total transaction of $10,700.00. Following the completion of the acquisition, the director owned 4,500 shares in the company, valued at $96,300. The trade was a 12.50% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock opened at $16.75 on Wednesday. The stock has a market capitalization of $34.00 billion, a P/E ratio of 12.05, a PEG ratio of 0.68 and a beta of 0.95. The business has a 50 day simple moving average of $17.77 and a two-hundred day simple moving average of $17.09. 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 current ratio of 0.93 and a quick ratio of 0.92.

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). The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the firm posted $0.34 earnings per share. As a group, analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Wednesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 44.60%.

Analysts Set New Price Targets

HBAN has been the subject of a number of recent research reports. Piper Sandler increased their price objective on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company an “underweight” rating in a report on Thursday, January 22nd. Jefferies Financial Group boosted their price objective on Huntington Bancshares from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Argus lifted their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Weiss Ratings reissued a “buy (b-)” rating on shares of Huntington Bancshares in a research report on Thursday, January 22nd. Finally, Barclays lifted 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 Monday, January 5th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.69.

Hedge Funds Weigh In On Huntington Bancshares

A number of hedge funds have recently made changes to their positions in HBAN. Empowered Funds LLC boosted its position in shares of Huntington Bancshares by 5.0% during the first quarter. Empowered Funds LLC now owns 28,888 shares of the bank’s stock worth $434,000 after buying an additional 1,366 shares during the period. Woodline Partners LP boosted its stake in shares of Huntington Bancshares by 40.8% in the first quarter. Woodline Partners LP now owns 122,821 shares of the bank’s stock valued at $1,844,000 after purchasing an additional 35,574 shares during the period. Oppenheimer Asset Management Inc. increased its stake in Huntington Bancshares by 11.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 12,478 shares of the bank’s stock worth $209,000 after buying an additional 1,238 shares during the period. Y Intercept Hong Kong Ltd lifted its holdings in Huntington Bancshares by 154.8% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 75,476 shares of the bank’s stock worth $1,265,000 after buying an additional 45,852 shares in the last quarter. Finally, Spire Wealth Management boosted its position in Huntington Bancshares by 20.0% in the 2nd quarter. Spire Wealth Management now owns 7,015 shares of the bank’s stock valued at $118,000 after buying an additional 1,170 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

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.