Huntington Bancshares (NASDAQ:HBAN) Director Buys $97,399.40 in Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director James Rollins III acquired 4,798 shares of the stock in a transaction dated Thursday, June 4th. The stock was bought at an average cost of $20.30 per share, with a total value of $97,399.40. Following the completion of the purchase, the director owned 10,000 shares of the company’s stock, valued at approximately $203,000. The trade was a 92.23% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $16.52 on Friday. The company has a market cap of $33.49 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 0.75 and a beta of 0.94. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45. The business has a 50 day moving average price of $16.14 and a 200-day moving average price of $16.78. 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 issued its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.16 by $0.21. The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same period in the prior year, the business posted $0.34 earnings per share. Equities analysts anticipate that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

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

Institutional Investors Weigh In On Huntington Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Huntington Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock worth $3,319,385,000 after buying an additional 14,338,222 shares in the last quarter. State Street Corp raised its position in shares of Huntington Bancshares by 4.7% in the fourth quarter. State Street Corp now owns 77,228,656 shares of the bank’s stock worth $1,351,806,000 after buying an additional 3,438,501 shares in the last quarter. Wellington Management Group LLP raised its position in Huntington Bancshares by 4,265.5% during the fourth quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock valued at $1,215,955,000 after purchasing an additional 68,478,435 shares in the last quarter. Boston Partners raised its position in Huntington Bancshares by 3.9% during the third quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock valued at $1,091,615,000 after purchasing an additional 2,363,905 shares in the last quarter. Finally, Invesco Ltd. raised its position in Huntington Bancshares by 6.6% during the fourth quarter. Invesco Ltd. now owns 62,971,849 shares of the bank’s stock valued at $1,092,562,000 after purchasing an additional 3,908,927 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Jefferies Financial Group increased their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Morgan Stanley dropped their target price on Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, April 24th. Barclays downgraded Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. DA Davidson lowered their price objective on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. Finally, Wall Street Zen upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.05.

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.