James Rollins III Acquires 3,029 Shares of Huntington Bancshares (NASDAQ:HBAN) Stock

Key Points

• James Rollins III purchased 3,029 shares of Huntington on April 28 at an average price of $21.05, a $63,760.45 transaction that raised his ownership to 9,500 shares (a 46.81% increase) and was disclosed to the SEC.
• The bank reported quarterly $0.37 EPS (vs. $0.16 expected) and $2.59 billion in revenue, while the stock trades near $16.31 with a 52-week range of $14.19–$19.45 and a P/E of 12.55.
• Huntington declared a quarterly dividend of $0.155 (annualized $0.62, yield 3.8%), has an average analyst rating of "Moderate Buy" with a $20.08 target, and is heavily institutionally owned (about 80.7%) after large purchases by firms like Wellington and Vanguard.

Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) Director James Rollins III acquired 3,029 shares of the firm's stock in a transaction dated Tuesday, April 28th. The stock was bought at an average cost of $21.05 per share, with a total value of $63,760.45. Following the acquisition, the director owned 9,500 shares in the company, valued at approximately $199,975. This trade represents a 46.81% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Huntington Bancshares Stock Performance

Huntington Bancshares stock traded down $0.24 during midday trading on Wednesday, hitting $16.31. 19,384,000 shares of the company were exchanged, compared to its average volume of 31,544,092. The business has a fifty day simple moving average of $16.28 and a two-hundred day simple moving average of $16.73. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a market capitalization of $33.23 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 0.72 and a beta of 0.95. Huntington Bancshares Incorporated has a fifty-two week low of $14.19 and a fifty-two week high of $19.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.16 by $0.21. The business had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same quarter in the prior year, the firm posted $0.34 EPS. On average, sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.8%. Huntington Bancshares's dividend payout ratio (DPR) is currently 47.69%.

Wall Street Analyst Weigh In

HBAN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 7th. Jefferies Financial Group lifted their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Barclays cut shares of Huntington Bancshares from a "hold" rating to a "strong sell" rating in a research note on Monday, April 20th. Royal Bank Of Canada lowered 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 note on Tuesday, April 7th. Finally, Raymond James Financial lifted their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a "strong-buy" rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given 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 $20.08.

Institutional Trading of Huntington Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of HBAN. Wellington Management Group LLP raised its holdings in Huntington Bancshares by 4,265.5% in the 4th quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank's stock valued at $1,215,955,000 after buying an additional 68,478,435 shares during the period. Norges Bank purchased a new stake in Huntington Bancshares in the 4th quarter valued at about $432,584,000. Vanguard Group Inc. raised its holdings in Huntington Bancshares by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank's stock valued at $3,319,385,000 after buying an additional 14,338,222 shares during the period. Junto Capital Management LP purchased a new stake in Huntington Bancshares in the 3rd quarter valued at about $85,690,000. Finally, Victory Capital Management Inc. raised its holdings in Huntington Bancshares by 15.7% in the 3rd quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank's stock valued at $594,054,000 after buying an additional 4,640,302 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

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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