Sen. Tina Smith Sells Huntington Bancshares Incorporated (NASDAQ:HBAN) Stock

Senator Tina Smith (D-Minnesota) recently sold shares of Huntington Bancshares Incorporated (NASDAQ:HBAN). In a filing disclosed on November 26th, the Senator disclosed that they had sold between $100,001 and $250,000 in Huntington Bancshares stock on November 21st.

Huntington Bancshares Stock Performance

Shares of NASDAQ HBAN traded down $0.01 during trading hours on Friday, hitting $16.27. 14,181,421 shares of the stock were exchanged, compared to its average volume of 27,246,252. Huntington Bancshares Incorporated has a one year low of $11.91 and a one year high of $18.13. The company’s 50 day moving average is $16.09 and its 200 day moving average is $16.45. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a market capitalization of $23.74 billion, a P/E ratio of 11.37, a P/E/G ratio of 0.66 and a beta of 1.01.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Wednesday, June 11th. The bank reported $0.28 earnings per share for the quarter. The firm had revenue of $469.00 million during the quarter. Huntington Bancshares had a net margin of 18.06% and a return on equity of 12.14%. On average, research analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 18th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Thursday, December 18th. Huntington Bancshares’s payout ratio is presently 43.36%.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, insider Helga Houston sold 64,587 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $15.38, for a total transaction of $993,348.06. Following the completion of the transaction, the insider owned 534,640 shares of the company’s stock, valued at $8,222,763.20. This represents a 10.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Marcy C. Hingst sold 41,100 shares of the business’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $18.00, for a total transaction of $739,800.00. Following the completion of the sale, the executive vice president directly owned 299,361 shares in the company, valued at approximately $5,388,498. This represents a 12.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 112,103 shares of company stock valued at $1,833,558. 0.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Huntington Bancshares during the 2nd quarter valued at $374,474,000. AQR Capital Management LLC lifted its stake in Huntington Bancshares by 274.9% in the first quarter. AQR Capital Management LLC now owns 10,758,669 shares of the bank’s stock valued at $157,292,000 after buying an additional 7,889,004 shares during the period. Junto Capital Management LP bought a new position in Huntington Bancshares during the 3rd quarter worth approximately $85,690,000. Victory Capital Management Inc. grew its holdings in shares of 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. Finally, Invesco Ltd. raised its stake in Huntington Bancshares by 8.7% during the 1st quarter. Invesco Ltd. now owns 57,186,593 shares of the bank’s stock worth $858,371,000 after buying an additional 4,586,607 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on HBAN shares. JPMorgan Chase & Co. upped their price target on Huntington Bancshares from $18.00 to $18.50 and gave the stock an “overweight” rating in a report on Friday, October 10th. Morgan Stanley lifted their target price on shares of Huntington Bancshares from $19.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Stephens increased their target price on Huntington Bancshares from $18.00 to $19.00 in a report on Friday, October 17th. Weiss Ratings restated a “buy (b-)” rating on shares of Huntington Bancshares in a research note on Wednesday, October 8th. Finally, Truist Financial increased their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.64.

About Senator Smith

Tina Smith (Democratic Party) is a member of the U.S. Senate from Minnesota. She assumed office on January 3, 2018. Her current term ends on January 3, 2027. Smith (Democratic Party) ran for re-election to the U.S. Senate to represent Minnesota. She won in the general election on November 3, 2020. Smith succeeded former Senator Al Franken (D). She assumed office on January 3, 2018. Smith won a full term in the special general election for the position on November 6, 2018. She defeated Karin Housley (R), Sarah Wellington (Legal Marijuana Now Party), and Jerry Trooien (Unaffiliated) to win the seat. She advanced to the general election after defeating five challengers in the special Democratic primary election on August 14, 2018. Smith previously served as the 48th lieutenant governor of Minnesota. She was elected to the position on a joint ticket with incumbent Governor Mark Dayton on November 4, 2014, and was sworn into office on January 5, 2015.

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.