Huntington Bancshares Incorporated (HBAN) EVP Nicholas G. Stanutz Sells 16,000 Shares of Stock
Huntington Bancshares Incorporated (NASDAQ:HBAN) EVP Nicholas G. Stanutz sold 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $12.71, for a total value of $203,360.00. Following the completion of the transaction, the executive vice president now owns 447,722 shares in the company, valued at approximately $5,690,546.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Huntington Bancshares Incorporated (NASDAQ HBAN) traded up 0.47% during mid-day trading on Friday, reaching $12.76. The company’s stock had a trading volume of 7,728,253 shares. The firm has a market cap of $13.91 billion, a PE ratio of 17.67 and a beta of 1.37. The company has a 50-day moving average price of $13.21 and a 200-day moving average price of $13.27. Huntington Bancshares Incorporated has a 12-month low of $9.52 and a 12-month high of $14.74.
Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, July 21st. The bank reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. During the same period in the previous year, the firm posted $0.19 earnings per share. On average, equities research analysts expect that Huntington Bancshares Incorporated will post $0.92 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be given a $0.08 dividend. The ex-dividend date is Friday, September 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.51%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 46.38%.
Huntington Bancshares declared that its Board of Directors has authorized a share repurchase program on Wednesday, June 28th that permits the company to repurchase $308.00 million in shares. This repurchase authorization permits the bank to buy up to 2.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
A number of research analysts have recently weighed in on the company. BidaskClub upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Deutsche Bank AG restated a “buy” rating on shares of Huntington Bancshares in a report on Monday, July 3rd. Instinet restated a “buy” rating and issued a $16.00 target price (up previously from $15.00) on shares of Huntington Bancshares in a report on Wednesday, July 12th. Morgan Stanley restated an “equal weight” rating and issued a $14.25 target price (up previously from $13.75) on shares of Huntington Bancshares in a report on Friday, July 7th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $16.00 target price on shares of Huntington Bancshares in a report on Thursday, July 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $14.96.
Several hedge funds and other institutional investors have recently modified their holdings of HBAN. Capstone Asset Management Co. increased its position in shares of Huntington Bancshares by 8.2% in the first quarter. Capstone Asset Management Co. now owns 65,604 shares of the bank’s stock worth $878,000 after buying an additional 4,990 shares during the period. DnB Asset Management AS increased its position in shares of Huntington Bancshares by 25.1% in the first quarter. DnB Asset Management AS now owns 91,330 shares of the bank’s stock worth $1,223,000 after buying an additional 18,300 shares during the period. James Investment Research Inc. increased its position in shares of Huntington Bancshares by 32.2% in the first quarter. James Investment Research Inc. now owns 24,647 shares of the bank’s stock worth $330,000 after buying an additional 6,000 shares during the period. Nationwide Fund Advisors increased its position in shares of Huntington Bancshares by 2.5% in the first quarter. Nationwide Fund Advisors now owns 305,476 shares of the bank’s stock worth $4,090,000 after buying an additional 7,523 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its position in shares of Huntington Bancshares by 4.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 28,930 shares of the bank’s stock worth $362,000 after buying an additional 1,317 shares during the period. Institutional investors and hedge funds own 74.54% of the company’s stock.
About Huntington Bancshares
Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.
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