Huntington Bancshares (NASDAQ:HBAN) Director Acquires $152,562.71 in Stock

Key Points

• Director James Rollins III bought 8,471 shares of HBAN on April 27 at an average price of $18.01 for $152,562.71, increasing his holdings to 11,500 shares (a 279.66% rise).
• Huntington beat expectations with quarterly EPS of $0.37 vs. $0.16 consensus and revenue of $2.59B, and announced a quarterly dividend of $0.155 (3.8% yield) payable July 1 with record date June 17.
• Large institutional inflows (notably Wellington, Vanguard and Norges Bank) have pushed institutional ownership to about 80.7%, and analysts carry a consensus "Moderate Buy" rating with a $20.08 price target.

Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) Director James Rollins III bought 8,471 shares of Huntington Bancshares stock in a transaction on Monday, April 27th. The shares were purchased at an average price of $18.01 per share, for a total transaction of $152,562.71. Following the acquisition, the director directly owned 11,500 shares in the company, valued at approximately $207,115. This trade represents a 279.66% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Huntington Bancshares Stock Down 1.5%

HBAN stock traded down $0.24 during midday trading on Wednesday, hitting $16.31. The stock had a trading volume of 19,384,000 shares, compared to its average volume of 31,544,092. The firm has a market cap of $33.23 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 0.72 and a beta of 0.95. The business has a 50-day moving average of $16.28 and a two-hundred day moving average of $16.73. Huntington Bancshares Incorporated has a 52-week low of $14.19 and a 52-week high of $19.45. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $2.57 billion. During the same quarter in the previous year, the business earned $0.34 earnings per share. As a group, equities research analysts forecast 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 given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares's dividend payout ratio is 47.69%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on HBAN shares. Keefe, Bruyette & Woods decreased their target price on shares of Huntington Bancshares from $20.00 to $19.50 and set a "market perform" rating for the company in a report on Friday, January 23rd. Wall Street Zen upgraded shares of Huntington Bancshares from a "strong sell" rating to a "sell" rating in a report on Saturday. Jefferies Financial Group raised their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, April 24th. The Goldman Sachs Group decreased their price objective 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. Finally, National Bank Financial set a $21.00 price objective on shares of Huntington Bancshares in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $20.08.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its holdings in Huntington Bancshares by 4,265.5% in the fourth quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank's stock worth $1,215,955,000 after purchasing an additional 68,478,435 shares during the last quarter. Norges Bank bought a new position in shares of Huntington Bancshares during the 4th quarter valued at $432,584,000. Vanguard Group Inc. boosted its stake in shares of Huntington Bancshares by 8.1% in the 4th 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 during the last quarter. Junto Capital Management LP purchased a new position in shares of Huntington Bancshares in the 3rd quarter worth $85,690,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Huntington Bancshares by 15.7% in the third quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank's stock worth $594,054,000 after acquiring an additional 4,640,302 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

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.

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