Huntington Bancshares (NASDAQ:HBAN) Director James Rollins III Buys 6,873 Shares of Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director James Rollins III acquired 6,873 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were bought at an average cost of $23.27 per share, with a total value of $159,934.71. Following the purchase, the director owned 4,000 shares in the company, valued at approximately $93,080. The trade was a -239.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Huntington Bancshares Stock Down 1.3%

Shares of NASDAQ HBAN opened at $16.75 on Wednesday. The stock has a market capitalization of $34.00 billion, a PE ratio of 12.05, a P/E/G ratio of 0.68 and a beta of 0.95. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80. The firm has a fifty day moving average of $17.77 and a 200-day moving average of $17.09. Huntington Bancshares Incorporated has a 52-week low of $11.91 and a 52-week high of $19.45.

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

Huntington Bancshares Announces Dividend

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

Wall Street Analyst Weigh In

HBAN has been the topic of a number of recent research reports. Zacks Research cut Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Royal Bank Of Canada reissued an “outperform” rating and set a $21.00 price target on shares of Huntington Bancshares in a research report on Monday, January 12th. JPMorgan Chase & Co. increased their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. Keefe, Bruyette & Woods reduced their target price on shares of Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating on the stock in a research report on Friday, January 23rd. Finally, Truist Financial upped their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Two 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 issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.69.

Institutional Investors Weigh In On Huntington Bancshares

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Huntington Bancshares by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock worth $3,319,385,000 after purchasing an additional 14,338,222 shares during the last quarter. State Street Corp raised its stake in Huntington Bancshares by 4.7% during the fourth quarter. State Street Corp now owns 77,228,656 shares of the bank’s stock worth $1,351,806,000 after acquiring an additional 3,438,501 shares during the period. Wellington Management Group LLP boosted its stake in Huntington Bancshares by 4,265.5% in the fourth quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock valued at $1,215,955,000 after acquiring an additional 68,478,435 shares during the period. Boston Partners raised its position in shares of Huntington Bancshares by 3.9% during the 3rd quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock worth $1,091,615,000 after purchasing an additional 2,363,905 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Huntington Bancshares by 6.6% in the 4th quarter. Invesco Ltd. now owns 62,971,849 shares of the bank’s stock worth $1,092,562,000 after purchasing an additional 3,908,927 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

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.