James Rollins III Acquires 6,873 Shares of Huntington Bancshares (NASDAQ:HBAN) Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director James Rollins III purchased 6,873 shares of Huntington Bancshares stock in a transaction that occurred on Friday, February 27th. The shares were bought at an average price of $23.27 per share, for a total transaction of $159,934.71. Following the completion of the transaction, the director owned 4,000 shares in the company, valued at $93,080. The trade was a -239.23% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Huntington Bancshares Trading Down 1.3%

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

Huntington Bancshares (NASDAQ:HBAN) last issued its 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 during 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 period in the previous year, the firm earned $0.34 earnings per share. As a group, equities research analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

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. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.7%. Huntington Bancshares’s payout ratio is presently 44.60%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. MV Capital Management Inc. bought a new position in shares of Huntington Bancshares in the fourth quarter worth approximately $25,000. MTM Investment Management LLC purchased a new stake in shares of Huntington Bancshares during the 2nd quarter valued at about $25,000. Palisade Asset Management LLC bought a new position in Huntington Bancshares in the third quarter worth approximately $26,000. South Plains Financial Inc. raised its holdings in Huntington Bancshares by 116.3% in the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after purchasing an additional 826 shares during the period. Finally, Centennial Bank AR purchased a new position in shares of Huntington Bancshares during the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on HBAN shares. Raymond James Financial increased their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 23rd. Morgan Stanley increased their target price on Huntington Bancshares from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday. Royal Bank Of Canada restated an “outperform” rating and set a $21.00 price target on shares of Huntington Bancshares in a research report on Monday, January 12th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $21.00 price target on shares of Huntington Bancshares in a research note on Tuesday, January 6th. Finally, Wall Street Zen lowered Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. 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 given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.69.

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.