Huntington Bancshares (NASDAQ:HBAN) Director Gary Torgow Acquires 12,700 Shares of Stock

Key Points

• Director Gary Torgow purchased 12,700 Huntington Bancshares shares at an average price of $15.73, investing approximately $199,771 and increasing his direct ownership to 956,041 shares.
• HBAN recently reported quarterly EPS of $0.38, matching consensus, while revenue of $2.79 billion came in slightly below estimates. The company declared a quarterly dividend of $0.155 per share, representing a 3.9% annualized yield.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $18.95 versus the stock’s recent price near $15.97.

Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) Director Gary Torgow bought 12,700 shares of the company's stock in a transaction on Tuesday, October 27th. The shares were bought at an average cost of $15.73 per share, for a total transaction of $199,771.00. Following the transaction, the director directly owned 956,041 shares in the company, valued at approximately $15,038,524.93. This represents a 1.35% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Huntington Bancshares Stock Performance

Huntington Bancshares stock traded up $0.27 during trading hours on Thursday, hitting $15.97. 17,271,910 shares of the stock traded hands, compared to its average volume of 27,141,742. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.91 and a quick ratio of 0.91. The firm's 50 day moving average price is $16.01 and its 200-day moving average price is $16.72. Huntington Bancshares Incorporated has a 1 year low of $14.82 and a 1 year high of $19.45. The stock has a market capitalization of $32.27 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 1.00 and a beta of 0.95.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The bank reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. Huntington Bancshares had a return on equity of 10.93% and a net margin of 16.28%. During the same quarter in the prior year, the firm posted $0.41 EPS. As a group, equities analysts expect that Huntington Bancshares Incorporated will post 1.55 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Friday, December 18th will be paid a dividend of $0.1550 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, December 18th. Huntington Bancshares's dividend payout ratio is 51.24%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on HBAN shares. Robert W. Baird decreased their target price on Huntington Bancshares from $21.00 to $19.00 and set an "outperform" rating for the company in a research report on Friday, October 23rd. Royal Bank Of Canada restated an "outperform" rating and issued a $21.00 price target on shares of Huntington Bancshares in a report on Tuesday, August 18th. DA Davidson reduced their price objective on Huntington Bancshares from $22.00 to $20.00 and set a "buy" rating on the stock in a research note on Monday, September 21st. TD Cowen assumed coverage on Huntington Bancshares in a research report on Thursday, October 8th. They issued a "buy" rating and a $18.00 target price for the company. Finally, Wolfe Research cut Huntington Bancshares from an "outperform" rating to a "peer perform" rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Huntington Bancshares presently has an average rating of "Moderate Buy" and an average target price of $18.95.

Hedge Funds Weigh In On Huntington Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Huntington Bancshares during the second quarter valued at about $3,134,426,000. Dimensional Fund Advisors LP raised its holdings in shares of Huntington Bancshares by 27.2% during the first quarter. Dimensional Fund Advisors LP now owns 23,480,601 shares of the bank's stock valued at $367,388,000 after purchasing an additional 5,026,894 shares during the last quarter. Amundi grew its holdings in shares of Huntington Bancshares by 30.7% in the first quarter. Amundi now owns 19,502,547 shares of the bank's stock worth $305,215,000 after acquiring an additional 4,578,566 shares during the period. Bank of America Corp DE bought a new stake in shares of Huntington Bancshares during the 2nd quarter valued at $256,772,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Huntington Bancshares during the 2nd quarter valued at approximately $229,246,000. Institutional investors and hedge funds own 80.72% of the company's stock.

About Huntington Bancshares

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.

The company's offerings include checking and savings accounts, consumer and residential lending, credit cards, auto finance, mortgages, commercial loans, treasury management, investment and wealth management services, insurance, and other financial solutions.

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