Huntington Bancshares (NASDAQ:HBAN) Director James Rollins III Buys 4,798 Shares of Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director James Rollins III purchased 4,798 shares of the stock in a transaction on Thursday, June 4th. The stock was acquired at an average cost of $20.30 per share, for a total transaction of $97,399.40. Following the completion of the acquisition, the director owned 10,000 shares of the company’s stock, valued at $203,000. The trade was a 92.23% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Huntington Bancshares Price Performance

NASDAQ:HBAN opened at $16.53 on Friday. Huntington Bancshares Incorporated has a one year low of $14.89 and a one year high of $19.45. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a market cap of $33.51 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 0.72 and a beta of 0.94. The firm’s fifty day moving average is $16.12 and its two-hundred day moving average is $16.78.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period in the prior year, the company earned $0.34 earnings per share. Research analysts expect that Huntington Bancshares Incorporated will post 1.61 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio is presently 47.69%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HBAN. Empowered Funds LLC raised its position in shares of Huntington Bancshares by 5.0% during the 1st quarter. Empowered Funds LLC now owns 28,888 shares of the bank’s stock worth $434,000 after purchasing an additional 1,366 shares during the last quarter. Woodline Partners LP raised its position in shares of Huntington Bancshares by 40.8% during the 1st quarter. Woodline Partners LP now owns 122,821 shares of the bank’s stock worth $1,844,000 after purchasing an additional 35,574 shares during the last quarter. Brown Advisory Inc. raised its position in shares of Huntington Bancshares by 8.3% during the 2nd quarter. Brown Advisory Inc. now owns 39,490 shares of the bank’s stock worth $662,000 after purchasing an additional 3,023 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Huntington Bancshares by 6.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 219,185 shares of the bank’s stock worth $3,674,000 after purchasing an additional 12,865 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of Huntington Bancshares by 6.2% during the 2nd quarter. Sei Investments Co. now owns 707,605 shares of the bank’s stock worth $11,859,000 after purchasing an additional 41,156 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on HBAN shares. Jefferies Financial Group upped their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Wall Street Zen upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Evercore decreased their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Monday, April 6th. Barclays downgraded shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Finally, Truist Financial decreased their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.05.

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.