Kendall A. Kowalski Sells 3,434 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) insider Kendall A. Kowalski sold 3,434 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $14.50, for a total transaction of $49,793.00. Following the completion of the transaction, the insider now owns 66,847 shares of the company's stock, valued at approximately $969,281.50. This trade represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Huntington Bancshares Stock Performance

Shares of NASDAQ HBAN traded up $0.18 during midday trading on Monday, hitting $14.58. The company's stock had a trading volume of 15,510,874 shares, compared to its average volume of 17,353,310. The stock has a fifty day moving average price of $14.60 and a 200 day moving average price of $16.00. The firm has a market capitalization of $21.30 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 1.33 and a beta of 0.89. Huntington Bancshares Incorporated has a one year low of $11.92 and a one year high of $18.45. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its earnings results on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the company earned $0.27 EPS. On average, research analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend is Tuesday, June 17th. Huntington Bancshares's dividend payout ratio is currently 47.33%.

Huntington Bancshares declared that its board has approved a share buyback plan on Thursday, April 17th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the bank to reacquire up to 5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Hedge Funds Weigh In On Huntington Bancshares

A number of large investors have recently modified their holdings of HBAN. D.A. Davidson & CO. lifted its stake in Huntington Bancshares by 173.0% in the first quarter. D.A. Davidson & CO. now owns 72,451 shares of the bank's stock worth $1,087,000 after purchasing an additional 45,915 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Huntington Bancshares by 1,462.4% in the 1st quarter. Teacher Retirement System of Texas now owns 212,390 shares of the bank's stock valued at $3,188,000 after acquiring an additional 198,796 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in Huntington Bancshares by 5.5% during the 1st quarter. First Horizon Advisors Inc. now owns 16,073 shares of the bank's stock valued at $241,000 after acquiring an additional 844 shares during the period. Hudson Edge Investment Partners Inc. bought a new position in Huntington Bancshares during the 1st quarter worth approximately $6,787,000. Finally, LFA Lugano Financial Advisors SA bought a new stake in Huntington Bancshares in the first quarter valued at approximately $31,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HBAN has been the subject of several analyst reports. Keefe, Bruyette & Woods lowered their target price on Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating for the company in a research report on Monday, April 21st. Baird R W raised Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Stephens reissued an "equal weight" rating and set a $16.50 target price on shares of Huntington Bancshares in a research report on Monday, April 21st. Morgan Stanley reduced their price objective on shares of Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Finally, Piper Sandler lowered their target price on shares of Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating for the company in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Huntington Bancshares has a consensus rating of "Moderate Buy" and a consensus price target of $17.45.

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.

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