Insider Buying: Huntington Bancshares (NASDAQ:HBAN) Director Buys $86,749.75 in Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director James Rollins III purchased 4,915 shares of Huntington Bancshares stock in a transaction dated Tuesday, March 3rd. The stock was acquired at an average price of $17.65 per share, for a total transaction of $86,749.75. Following the completion of the transaction, the director owned 4,915 shares in the company, valued at approximately $86,749.75. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Huntington Bancshares Stock Performance

Shares of NASDAQ:HBAN traded up $0.08 during trading on Wednesday, reaching $16.83. 27,683,970 shares of the company’s stock traded hands, compared to its average volume of 37,004,551. The stock has a market capitalization of $34.16 billion, a P/E ratio of 12.11, a price-to-earnings-growth ratio of 0.68 and a beta of 0.95. Huntington Bancshares Incorporated has a 12 month low of $11.91 and a 12 month high of $19.45. The company has a 50 day moving average of $17.77 and a 200-day moving average of $17.09. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.21 billion. Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. During the same quarter in the previous year, the firm earned $0.34 earnings per share. On average, equities analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Wednesday, March 18th. Huntington Bancshares’s dividend payout ratio is presently 44.60%.

Analysts Set New Price Targets

HBAN has been the subject of several analyst reports. UBS Group set a $21.00 price target on shares of Huntington Bancshares in a report on Wednesday, February 4th. Argus lifted their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. National Bank Financial set a $21.00 target price on shares of Huntington Bancshares in a research report on Wednesday, February 4th. Raymond James Financial raised their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “strong-buy” rating in a research note on Friday, January 23rd. Finally, Barclays boosted their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.69.

Institutional Investors Weigh In On Huntington Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of HBAN. MTM Investment Management LLC bought a new stake in shares of Huntington Bancshares in the 2nd quarter worth approximately $25,000. MV Capital Management Inc. acquired a new position in Huntington Bancshares in the fourth quarter worth approximately $25,000. Palisade Asset Management LLC bought a new position in shares of Huntington Bancshares in the third quarter valued at $26,000. South Plains Financial Inc. raised its holdings in Huntington Bancshares by 116.3% during the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after buying an additional 826 shares during the period. Finally, Centennial Bank AR purchased a new stake in Huntington Bancshares during the fourth quarter valued at about $28,000. 80.72% of the stock is owned by institutional investors and hedge funds.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.