Insider Buying: Huntington Bancshares (NASDAQ:HBAN) Director Buys 6,075 Shares of Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director James Rollins III bought 6,075 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was acquired at an average cost of $19.79 per share, with a total value of $120,224.25. Following the transaction, the director owned 12,000 shares of the company’s stock, valued at $237,480. This trade represents a 102.53% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Huntington Bancshares Stock Up 3.8%

Shares of NASDAQ:HBAN traded up $0.60 during midday trading on Thursday, hitting $16.53. 18,915,141 shares of the stock were exchanged, compared to its average volume of 29,181,393. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. Huntington Bancshares Incorporated has a 52-week low of $14.89 and a 52-week high of $19.45. The business’s fifty day simple moving average is $16.10 and its two-hundred day simple moving average is $16.78. The company has a market capitalization of $33.51 billion, a PE ratio of 12.72, a P/E/G ratio of 0.74 and a beta of 0.94.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same period last year, the company earned $0.34 earnings per share. As a group, research analysts predict that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

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

Hedge Funds Weigh In On Huntington Bancshares

Several hedge funds have recently bought and sold shares of HBAN. Empowered Funds LLC grew its position in 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 in the last quarter. Woodline Partners LP increased its holdings 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 in the last quarter. Brown Advisory Inc. increased its holdings in shares of Huntington Bancshares by 8.3% in the second quarter. Brown Advisory Inc. now owns 39,490 shares of the bank’s stock valued at $662,000 after purchasing an additional 3,023 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Huntington Bancshares by 6.2% in the second quarter. Daiwa Securities Group Inc. now owns 219,185 shares of the bank’s stock valued at $3,674,000 after purchasing an additional 12,865 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Huntington Bancshares by 6.2% in the second quarter. Sei Investments Co. now owns 707,605 shares of the bank’s stock valued at $11,859,000 after purchasing an additional 41,156 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on HBAN shares. National Bank Financial set a $21.00 price objective on Huntington Bancshares in a report on Wednesday, February 4th. UBS Group set a $21.00 price objective on Huntington Bancshares in a report on Wednesday, February 4th. Royal Bank Of Canada cut their price objective on Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. DA Davidson cut their price objective on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a report on Monday, March 16th. Finally, Barclays downgraded shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.05.

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.