Insider Selling: Huntington Bancshares (NASDAQ:HBAN) EVP Sells 41,100 Shares of Stock

Key Points

• Marcy Hingst, EVP of Huntington Bancshares, sold 41,100 shares at an average price of $18.00, totaling approximately $739,800, which reduced her ownership by 12.07%.
• The company will pay a quarterly dividend of $0.155 on October 1st, representing a yield of 3.5% and a payout ratio of 45.93%.
• Institutional investors control 80.72% of Huntington Bancshares, with several hedges making significant adjustments to their positions recently, indicating strong institutional interest.

Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) EVP Marcy C. Hingst sold 41,100 shares of Huntington Bancshares stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $18.00, for a total transaction of $739,800.00. Following the transaction, the executive vice president owned 299,361 shares in the company, valued at approximately $5,388,498. The trade was a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Huntington Bancshares Trading Up 0.2%

NASDAQ HBAN traded up $0.03 on Friday, hitting $17.77. 21,708,807 shares of the stock were exchanged, compared to its average volume of 24,835,348. Huntington Bancshares Incorporated has a 52-week low of $11.91 and a 52-week high of $18.44. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $25.92 billion, a price-to-earnings ratio of 13.16, a P/E/G ratio of 0.86 and a beta of 0.97. The company's 50-day moving average price is $17.00 and its two-hundred day moving average price is $15.79.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 17th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, September 17th. Huntington Bancshares's payout ratio is presently 45.93%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group lifted their target price on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Citigroup lifted their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Raymond James Financial reissued a "strong-buy" rating and set a $21.00 target price (up previously from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. DA Davidson lifted their target price on shares of Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Finally, Wall Street Zen lowered shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $18.79.

Institutional Investors Weigh In On Huntington Bancshares

Several institutional investors and hedge funds have recently modified their holdings of HBAN. Family Legacy Financial Solutions LLC acquired a new stake in shares of Huntington Bancshares in the 2nd quarter valued at $25,000. MTM Investment Management LLC acquired a new stake in shares of Huntington Bancshares in the 2nd quarter valued at $25,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Huntington Bancshares in the 1st quarter valued at $29,000. Quarry LP lifted its stake in shares of Huntington Bancshares by 73.0% in the 1st quarter. Quarry LP now owns 1,929 shares of the bank's stock valued at $29,000 after purchasing an additional 814 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in Huntington Bancshares during the 2nd quarter worth $30,000. Institutional investors and hedge funds own 80.72% of the company's stock.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.