Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) insider Kendall A. Kowalski sold 25,419 shares of the stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $13.68, for a total value of $347,731.92. Following the sale, the insider now directly owns 70,281 shares in the company, valued at $961,444.08. This trade represents a 26.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Huntington Bancshares Trading Up 1.7 %
Shares of Huntington Bancshares stock opened at $14.17 on Thursday. Huntington Bancshares Incorporated has a 1 year low of $11.92 and a 1 year high of $18.45. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The stock has a market cap of $20.70 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The firm has a fifty day moving average price of $14.70 and a 200 day moving average price of $15.99.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its earnings results on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter in the prior year, the business earned $0.27 earnings per share. Equities research analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.
Huntington Bancshares declared that its board has initiated a stock repurchase plan on Thursday, April 17th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the bank to repurchase up to 5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.
Huntington Bancshares Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be paid a dividend of $0.155 per share. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.38%. Huntington Bancshares's payout ratio is 47.33%.
Analyst Upgrades and Downgrades
Several research firms have issued reports on HBAN. Piper Sandler cut their target price on Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating on the stock in a research note on Tuesday, January 21st. Truist Financial reduced their price objective on shares of Huntington Bancshares from $21.00 to $17.00 and set a "buy" rating for the company in a research note on Tuesday. Royal Bank of Canada lowered their price objective on Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Monday. Keefe, Bruyette & Woods dropped their target price on Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating on the stock in a research note on Monday. Finally, Raymond James reiterated a "strong-buy" rating and issued a $18.00 price target (down from $20.00) on shares of Huntington Bancshares in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $17.39.
Get Our Latest Stock Report on HBAN
Institutional Trading of Huntington Bancshares
A number of hedge funds have recently added to or reduced their stakes in HBAN. Robeco Institutional Asset Management B.V. raised its position in shares of Huntington Bancshares by 25.1% in the first quarter. Robeco Institutional Asset Management B.V. now owns 241,515 shares of the bank's stock worth $3,625,000 after acquiring an additional 48,531 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Huntington Bancshares by 22.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 596,294 shares of the bank's stock valued at $8,950,000 after purchasing an additional 109,454 shares in the last quarter. HBK Sorce Advisory LLC raised its holdings in Huntington Bancshares by 24.0% in the 1st quarter. HBK Sorce Advisory LLC now owns 25,182 shares of the bank's stock worth $378,000 after purchasing an additional 4,878 shares during the period. Golden State Wealth Management LLC boosted its position in Huntington Bancshares by 516.3% during the first quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock worth $33,000 after purchasing an additional 1,869 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in Huntington Bancshares by 11.0% in the first quarter. International Assets Investment Management LLC now owns 11,509 shares of the bank's stock valued at $173,000 after purchasing an additional 1,145 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.
About Huntington Bancshares
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Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.
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