Marcy C. Hingst Sells 13,700 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) EVP Marcy C. Hingst sold 13,700 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $15.79, for a total value of $216,323.00. Following the completion of the transaction, the executive vice president now directly owns 337,879 shares in the company, valued at $5,335,109.41. This trade represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Huntington Bancshares Stock Up 1.2%

Shares of HBAN stock traded up $0.19 during mid-day trading on Monday, reaching $15.70. 22,829,266 shares of the company were exchanged, compared to its average volume of 18,581,487. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The business's 50 day simple moving average is $14.96 and its 200 day simple moving average is $15.75. The company has a market capitalization of $22.93 billion, a P/E ratio of 12.76, a P/E/G ratio of 1.33 and a beta of 0.92. Huntington Bancshares Incorporated has a fifty-two week low of $11.92 and a fifty-two week high of $18.45.

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

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend is Tuesday, June 17th. Huntington Bancshares's payout ratio is currently 47.33%.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on HBAN shares. Truist Financial raised their price target on shares of Huntington Bancshares from $18.00 to $19.00 and gave the company a "buy" rating in a report on Friday. Morgan Stanley cut their target price 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. Deutsche Bank Aktiengesellschaft raised shares of Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 price target for the company in a research report on Thursday, April 24th. Robert W. Baird raised Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 price objective on the stock in a research report on Friday, March 7th. Finally, Jefferies Financial Group began coverage on Huntington Bancshares in a research note on Wednesday, May 21st. They set a "buy" rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $18.08.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HBAN. Empowered Funds LLC increased its stake in Huntington Bancshares by 13.4% during the fourth quarter. Empowered Funds LLC now owns 27,522 shares of the bank's stock valued at $448,000 after purchasing an additional 3,256 shares during the last quarter. Vontobel Holding Ltd. lifted its position in Huntington Bancshares by 60.1% in the 4th quarter. Vontobel Holding Ltd. now owns 34,906 shares of the bank's stock valued at $568,000 after purchasing an additional 13,105 shares during the last quarter. Principal Securities Inc. boosted its position in shares of Huntington Bancshares by 8.0% during the fourth quarter. Principal Securities Inc. now owns 36,399 shares of the bank's stock worth $592,000 after buying an additional 2,686 shares during the period. Strategic Financial Concepts LLC bought a new stake in Huntington Bancshares during the 4th quarter valued at $359,000. Finally, Allworth Financial LP raised its stake in shares of Huntington Bancshares by 39.1% during the fourth quarter. Allworth Financial LP now owns 7,258 shares of the bank's stock valued at $122,000 after purchasing an additional 2,042 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company's stock.

Huntington Bancshares Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.