Huntington Bancshares (NASDAQ:HBAN) Sees Unusually-High Trading Volume

Huntington Bancshares Incorporated (NASDAQ:HBAN) shares saw unusually-high trading volume on Friday . Approximately 6,814,982 shares were traded during trading, a decline of 61% from the previous session’s volume of 17,384,248 shares.The stock last traded at $13.10 and had previously closed at $13.18.

Analyst Upgrades and Downgrades

HBAN has been the topic of several recent research reports. UBS Group raised Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $14.00 to $15.00 in a research report on Wednesday, February 14th. Barclays raised Huntington Bancshares from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $12.00 to $15.00 in a research report on Tuesday, January 2nd. StockNews.com lowered Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. Jefferies Financial Group raised Huntington Bancshares from a “hold” rating to a “buy” rating and upped their target price for the company from $14.00 to $16.00 in a research report on Monday, April 8th. Finally, Royal Bank of Canada upped their price target on Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.97.

Huntington Bancshares Stock Performance

The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.73. The company has a 50 day moving average price of $13.25 and a 200-day moving average price of $12.11. The company has a market cap of $19.33 billion, a P/E ratio of 10.63, a PEG ratio of 2.44 and a beta of 1.11.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, January 19th. The bank reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.15. Huntington Bancshares had a return on equity of 12.96% and a net margin of 18.00%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the prior year, the firm posted $0.43 EPS. Equities analysts expect that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other Huntington Bancshares news, VP Julie C. Tutkovics sold 15,541 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total value of $197,059.88. Following the transaction, the vice president now directly owns 303,455 shares of the company’s stock, valued at approximately $3,847,809.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Julie C. Tutkovics sold 15,541 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total transaction of $197,059.88. Following the transaction, the vice president now owns 303,455 shares of the company’s stock, valued at approximately $3,847,809.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ann B. Crane sold 58,000 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $13.54, for a total value of $785,320.00. Following the transaction, the director now directly owns 192,247 shares in the company, valued at approximately $2,603,024.38. The disclosure for this sale can be found here. Insiders have sold a total of 102,241 shares of company stock valued at $1,360,359 in the last three months. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Huntington Bancshares by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 172,069,244 shares of the bank’s stock valued at $1,789,520,000 after buying an additional 1,209,264 shares during the last quarter. BlackRock Inc. lifted its position in shares of Huntington Bancshares by 0.5% in the 1st quarter. BlackRock Inc. now owns 137,586,195 shares of the bank’s stock worth $1,540,965,000 after acquiring an additional 652,310 shares during the period. Boston Partners lifted its position in shares of Huntington Bancshares by 59.3% in the 4th quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock worth $593,408,000 after acquiring an additional 17,365,446 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Huntington Bancshares by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 45,744,281 shares of the bank’s stock worth $468,725,000 after acquiring an additional 245,025 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Huntington Bancshares by 5.0% during the 1st quarter. Geode Capital Management LLC now owns 31,820,975 shares of the bank’s stock worth $355,630,000 after buying an additional 1,516,892 shares during the period. 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.