Marcy Hingst Sells 10,568 Shares of Huntington Bancshares (NASDAQ:HBAN) Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) EVP Marcy Hingst sold 10,568 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the transaction, the executive vice president owned 267,859 shares of the company’s stock, valued at approximately $4,821,462. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Huntington Bancshares Stock Down 0.6%

HBAN stock opened at $17.79 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a market capitalization of $36.06 billion, a P/E ratio of 13.68, a P/E/G ratio of 0.81 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 company’s 50 day simple moving average is $16.50 and its 200-day simple moving average is $16.89.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period in the previous year, the company posted $0.34 EPS. As a group, equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.62 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be issued a dividend of $0.155 per share. The ex-dividend date is Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. Huntington Bancshares’s payout ratio is currently 47.69%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HBAN. CIBC Asset Management Inc lifted its holdings in Huntington Bancshares by 24.5% in the 4th quarter. CIBC Asset Management Inc now owns 533,005 shares of the bank’s stock worth $9,248,000 after purchasing an additional 104,965 shares during the last quarter. Fieldview Capital Management LLC lifted its stake in shares of Huntington Bancshares by 15.9% in the third quarter. Fieldview Capital Management LLC now owns 478,852 shares of the bank’s stock worth $8,270,000 after buying an additional 65,828 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its stake in shares of Huntington Bancshares by 688.9% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 86,478 shares of the bank’s stock worth $1,500,000 after buying an additional 75,516 shares during the last quarter. KBC Group NV boosted its holdings in shares of Huntington Bancshares by 16.3% during the 4th quarter. KBC Group NV now owns 2,820,816 shares of the bank’s stock worth $48,941,000 after buying an additional 395,489 shares during the period. Finally, Korea Investment CORP grew its stake in Huntington Bancshares by 107.2% in the 3rd quarter. Korea Investment CORP now owns 3,933,919 shares of the bank’s stock valued at $67,939,000 after buying an additional 2,035,351 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

HBAN has been the subject of a number of research reports. Morgan Stanley decreased their price objective on Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. The Goldman Sachs Group decreased their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a report on Monday, April 6th. Wall Street Zen raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Piper Sandler upgraded shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price objective on the stock in a research note on Thursday, April 23rd. 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 investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.