Huntington Bancshares (NASDAQ:HBAN) Stock: Insider Donnell White Sells 3,000 Shares

Key Points

• Insider sale: Huntington SVP Donnell White sold 3,000 shares for $47,610 at an average price of $15.87, reducing his holdings by 11.24% to 23,697 shares.
• Quarterly results: The bank reported earnings of $0.38 per share, matching estimates, while revenue of $2.79 billion fell short of the $2.82 billion consensus.
• Dividend and analyst outlook: Huntington announced a quarterly dividend of $0.155 per share, equivalent to a 3.9% yield. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $18.98.

Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) SVP Donnell White sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $15.87, for a total transaction of $47,610.00. Following the sale, the senior vice president owned 23,697 shares of the company's stock, valued at $376,071.39. The trade was a 11.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Huntington Bancshares Trading Up 0.9%

Shares of Huntington Bancshares stock traded up $0.14 on Wednesday, reaching $16.00. 13,359,255 shares of the company were exchanged, compared to its average volume of 26,964,471. Huntington Bancshares Incorporated has a fifty-two week low of $14.82 and a fifty-two week high of $19.45. The stock has a fifty day moving average price of $15.92 and a 200-day moving average price of $16.69. The firm has a market capitalization of $32.34 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 1.03 and a beta of 0.97. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The bank reported $0.38 EPS for the quarter, meeting the consensus estimate of $0.38. Huntington Bancshares had a net margin of 16.28% and a return on equity of 10.93%. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the firm earned $0.41 EPS. On average, analysts expect that Huntington Bancshares Incorporated will post 1.54 EPS for the current year.

Huntington Bancshares Dividend Announcement

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

Hedge Funds Weigh In On Huntington Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the stock. Gryphon Financial Partners LLC increased its stake in Huntington Bancshares by 1.1% during the 3rd quarter. Gryphon Financial Partners LLC now owns 76,930 shares of the bank's stock worth $1,174,000 after purchasing an additional 868 shares in the last quarter. M&G PLC lifted its stake in Huntington Bancshares by 9.5% in the third quarter. M&G PLC now owns 458,396 shares of the bank's stock valued at $6,876,000 after buying an additional 39,644 shares in the last quarter. AlphaCore Capital LLC boosted its holdings in shares of Huntington Bancshares by 130.7% in the third quarter. AlphaCore Capital LLC now owns 26,325 shares of the bank's stock valued at $402,000 after buying an additional 14,913 shares during the period. Fulcrum Asset Management LLP acquired a new position in shares of Huntington Bancshares in the third quarter valued at approximately $2,240,000. Finally, StoneRidge PMG Advisors LLC bought a new stake in shares of Huntington Bancshares during the third quarter worth $858,000. 80.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on HBAN. Wolfe Research lowered Huntington Bancshares from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, October 27th. Weiss Ratings lowered shares of Huntington Bancshares from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, October 27th. Bank of America cut shares of Huntington Bancshares from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $20.00 to $18.50 in a research report on Monday, July 27th. Citigroup dropped their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set a "buy" rating for the company in a research note on Monday, October 26th. Finally, TD Cowen assumed coverage on shares of Huntington Bancshares in a report on Thursday, October 8th. They issued a "buy" rating and a $18.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $18.98.

Huntington Bancshares Company Profile

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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