Huntington Bancshares (NASDAQ:HBAN) EVP Sells $190,224.00 in Stock

Key Points

• Huntington Bancshares EVP Marcy Hingst sold 10,568 shares on June 25 at an average price of $18.00, for a total of $190,224.00. After the sale, she still owned 267,859 shares, and the transaction was made under a pre-arranged Rule 10b5-1 plan.
• The stock edged down 0.6% to $17.79 in Friday trading, with the company valued at about $36.06 billion. HBAN has traded between $14.89 and $19.45 over the past year.
• Huntington recently beat quarterly earnings expectations, reporting $0.37 EPS versus the $0.16 consensus estimate and revenue of $2.59 billion. The bank also declared a quarterly dividend of $0.155 per share, implying a 3.5% annual yield.

Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) EVP Marcy Hingst sold 10,568 shares of the business's stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the sale, the executive vice president directly owned 267,859 shares in the company, valued at approximately $4,821,462. This represents a 3.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Huntington Bancshares Trading Down 0.6%

NASDAQ HBAN traded down $0.11 on Friday, reaching $17.79. The company had a trading volume of 23,211,624 shares, compared to its average volume of 28,552,848. The firm has a market cap of $36.06 billion, a price-to-earnings ratio of 13.68, a P/E/G ratio of 0.80 and a beta of 0.94. 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 Incorporated has a fifty-two week low of $14.89 and a fifty-two week high of $19.45. The business has a 50 day moving average of $16.48 and a two-hundred day moving average of $16.88.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.16 by $0.21. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same period in the previous year, the business earned $0.34 EPS. Analysts forecast that Huntington Bancshares Incorporated will post 1.61 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.5%. Huntington Bancshares's dividend payout ratio is presently 47.69%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on HBAN shares. Wolfe Research lowered their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set an "outperform" rating for the company in a report on Wednesday, April 1st. Wall Street Zen raised shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Truist Financial decreased their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set a "buy" rating for the company in a research report on Friday, March 13th. Weiss Ratings downgraded shares of Huntington Bancshares from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, June 18th. Finally, Piper Sandler raised shares of Huntington Bancshares from a "strong sell" rating to a "hold" rating and set a $18.00 price target on the stock in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $20.05.

Hedge Funds Weigh In On Huntington Bancshares

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Huntington Bancshares by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank's stock valued at $3,319,385,000 after acquiring an additional 14,338,222 shares during the period. State Street Corp grew its holdings in Huntington Bancshares by 4.7% in the fourth quarter. State Street Corp now owns 77,228,656 shares of the bank's stock worth $1,351,806,000 after purchasing an additional 3,438,501 shares during the period. Wellington Management Group LLP increased its stake 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 valued at $1,215,955,000 after purchasing an additional 68,478,435 shares in the last quarter. Boston Partners increased its stake in Huntington Bancshares by 3.9% in the third quarter. Boston Partners now owns 63,302,953 shares of the bank's stock valued at $1,091,615,000 after purchasing an additional 2,363,905 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Huntington Bancshares by 6.6% during the fourth quarter. Invesco Ltd. now owns 62,971,849 shares of the bank's stock valued at $1,092,562,000 after purchasing an additional 3,908,927 shares during the period. 80.72% of the stock is currently owned by 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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