Huntington Bancshares (NASDAQ:HBAN) Director James Rollins III Sells 223,522 Shares

Key Points

• Director James Rollins III sold 223,522 shares of Huntington Bancshares at an average price of $17.35, totaling about $3.88 million. After the sale, he still owned 612,155 shares, a 26.75% reduction in his stake.
• The stock traded slightly higher, rising 0.6% to $17.32, with trading volume below its average. HBAN remains below its 12-month high of $19.45 but above its 12-month low of $14.89.
• Huntington Bancshares reported solid quarterly results and a dividend, posting EPS of $0.37 versus $0.16 expected and revenue of $2.59 billion. The company also declared a quarterly dividend of $0.155 per share, implying a 3.6% annualized yield.

Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) Director James Rollins III sold 223,522 shares of the business's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the sale, the director owned 612,155 shares of the company's stock, valued at approximately $10,620,889.25. The trade was a 26.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Huntington Bancshares Trading Up 0.6%

Huntington Bancshares stock traded up $0.11 during trading on Tuesday, reaching $17.32. The company had a trading volume of 20,723,109 shares, compared to its average volume of 28,846,109. Huntington Bancshares Incorporated has a 12-month low of $14.89 and a 12-month high of $19.45. The stock's 50 day moving average price is $16.32 and its two-hundred day moving average price is $16.85. The firm has a market capitalization of $35.11 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 0.80 and a beta of 0.94. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) 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 company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the previous year, the firm earned $0.34 earnings per share. As a group, equities analysts expect that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.6%. The ex-dividend date is Wednesday, June 17th. Huntington Bancshares's payout ratio is currently 47.69%.

Wall Street Analyst Weigh In

HBAN has been the subject of several research reports. Morgan Stanley decreased their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Friday, April 24th. Wall Street Zen raised shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Royal Bank Of Canada reduced their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 7th. The Goldman Sachs Group reduced their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Monday, April 6th. Finally, Jefferies Financial Group boosted their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $20.05.

Institutional Trading of Huntington Bancshares

Several institutional investors have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc lifted its stake in Huntington Bancshares by 24.5% during the fourth quarter. CIBC Asset Management Inc now owns 533,005 shares of the bank's stock valued at $9,248,000 after buying an additional 104,965 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Huntington Bancshares by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 176,980,819 shares of the bank's stock valued at $3,056,459,000 after purchasing an additional 680,601 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Huntington Bancshares by 3.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,238,142 shares of the bank's stock valued at $159,543,000 after purchasing an additional 314,544 shares during the period. Fieldview Capital Management LLC increased its holdings in shares of Huntington Bancshares by 15.9% in the 3rd quarter. Fieldview Capital Management LLC now owns 478,852 shares of the bank's stock valued at $8,270,000 after purchasing an additional 65,828 shares during the period. Finally, KBC Group NV increased its holdings in shares of Huntington Bancshares by 16.3% in the 4th quarter. KBC Group NV now owns 2,820,816 shares of the bank's stock valued at $48,941,000 after purchasing an additional 395,489 shares during the period. 80.72% of the stock is owned by institutional investors and hedge funds.

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.

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