Prashant Nateri Sells 10,171 Shares of Huntington Bancshares (NASDAQ:HBAN) Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) insider Prashant Nateri sold 10,171 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $15.50, for a total value of $157,650.50. Following the transaction, the insider directly owned 83,819 shares in the company, valued at $1,299,194.50. This trade represents a 10.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Huntington Bancshares Trading Up 0.5%

Shares of HBAN stock traded up $0.07 on Monday, hitting $15.28. 38,569,837 shares of the stock traded hands, compared to its average volume of 27,799,616. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93. Huntington Bancshares Incorporated has a twelve month low of $11.91 and a twelve month high of $19.45. The firm’s 50-day moving average price is $17.53 and its two-hundred day moving average price is $17.03. The stock has a market capitalization of $31.13 billion, a PE ratio of 10.21, a PEG ratio of 0.61 and a beta of 0.95.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.03). The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $2.21 billion. Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.During the same quarter in the previous year, the business posted $0.34 earnings per share. As a group, analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, March 18th. Huntington Bancshares’s payout ratio is presently 44.60%.

Hedge Funds Weigh In On Huntington Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. MV Capital Management Inc. acquired a new position in Huntington Bancshares in the 4th quarter valued at about $25,000. MTM Investment Management LLC acquired a new stake in shares of Huntington Bancshares during the second quarter worth about $25,000. Palisade Asset Management LLC purchased a new position in shares of Huntington Bancshares in the third quarter valued at approximately $26,000. South Plains Financial Inc. boosted its stake in shares of Huntington Bancshares by 116.3% in the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after purchasing an additional 826 shares during the period. Finally, Centennial Bank AR acquired a new position in shares of Huntington Bancshares in the fourth quarter valued at approximately $28,000. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HBAN shares. The Goldman Sachs Group reiterated a “buy” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research report on Tuesday, January 6th. JPMorgan Chase & Co. upped their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, February 9th. UBS Group set a $21.00 price target on Huntington Bancshares in a report on Wednesday, February 4th. National Bank Financial set a $21.00 price objective on Huntington Bancshares in a research report on Wednesday, February 4th. Finally, Argus upped their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. 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 company. According to MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average target price of $20.63.

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.