Huntington Bancshares (NASDAQ:HBAN) Director Gary Torgow Acquires 12,700 Shares of Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director Gary Torgow acquired 12,700 shares of the business’s stock in a transaction dated Tuesday, October 27th. The shares were acquired at an average cost of $15.73 per share, with a total value of $199,771.00. Following the acquisition, the director directly owned 956,041 shares of the company’s stock, valued at $15,038,524.93. This represents a 1.35% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Huntington Bancshares Stock Up 1.7%

HBAN opened at $15.97 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.59. The stock has a market cap of $32.27 billion, a PE ratio of 13.20, a P/E/G ratio of 1.01 and a beta of 0.95. The business’s fifty day simple moving average is $15.98 and its 200 day simple moving average is $16.71. Huntington Bancshares Incorporated has a 52 week low of $14.82 and a 52 week high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, October 22nd. The bank reported $0.38 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.38. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Huntington Bancshares had a return on equity of 10.93% and a net margin of 16.28%. During the same period last year, the firm posted $0.41 EPS. As a group, research analysts expect that Huntington Bancshares Incorporated will post 1.54 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Friday, December 18th will be issued a $0.1550 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is 51.24%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Corient Private Wealth LP purchased a new position in Huntington Bancshares during the second quarter valued at $21,187,000. Equitable Holdings Inc. bought a new stake in Huntington Bancshares during the second quarter valued at about $1,093,000. Bank of America Corp DE purchased a new position in shares of Huntington Bancshares in the second quarter valued at about $256,772,000. Hsbc Holdings PLC raised its position in shares of Huntington Bancshares by 25.4% during the fourth quarter. Hsbc Holdings PLC now owns 8,161,085 shares of the bank’s stock valued at $141,625,000 after buying an additional 1,652,464 shares during the last quarter. Finally, Community Trust & Investment Co. purchased a new position in shares of Huntington Bancshares in the third quarter worth $3,131,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on HBAN shares. TD Cowen started coverage on shares of Huntington Bancshares in a report on Thursday, October 8th. They issued a “buy” rating and a $18.00 price objective for the company. Keefe, Bruyette & Woods decreased their price target on shares of Huntington Bancshares from $19.50 to $18.00 and set a “market perform” rating for the company in a research note on Tuesday, October 6th. Zacks Research lowered shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. Stephens lowered their price objective on shares of Huntington Bancshares from $19.00 to $18.00 in a report on Tuesday, September 22nd. Finally, Wells Fargo & Company lowered their price objective on Huntington Bancshares from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.95.

About Huntington Bancshares

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and residential lending, credit cards, auto finance, mortgages, commercial loans, treasury management, investment and wealth management services, insurance, and other financial solutions.