Huntington Bancshares (NASDAQ:HBAN) Insider Sells $157,650.50 in Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) insider Prashant Nateri sold 10,171 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $15.50, for a total transaction of $157,650.50. Following the completion of the transaction, the insider directly owned 83,819 shares of the company’s stock, valued at $1,299,194.50. The trade was a 10.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Huntington Bancshares Stock Down 1.8%

NASDAQ:HBAN opened at $15.11 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80. Huntington Bancshares Incorporated has a twelve month low of $11.91 and a twelve month high of $19.45. The company has a market cap of $30.78 billion, a PE ratio of 10.87, a P/E/G ratio of 0.62 and a beta of 0.95. The company’s 50 day moving average is $17.36 and its two-hundred day moving average is $16.98.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the prior year, the business posted $0.34 EPS. Analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th will be paid a $0.155 dividend. The ex-dividend date is Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 4.1%. Huntington Bancshares’s dividend payout ratio (DPR) is 44.60%.

Hedge Funds Weigh In On Huntington Bancshares

A number of institutional investors have recently modified their holdings of the stock. MTM Investment Management LLC purchased a new stake in shares of Huntington Bancshares in the second quarter worth about $25,000. MV Capital Management Inc. purchased a new position in Huntington Bancshares during the fourth quarter valued at approximately $25,000. Palisade Asset Management LLC acquired a new position in Huntington Bancshares in the third quarter valued at approximately $26,000. South Plains Financial Inc. lifted its holdings in Huntington Bancshares by 116.3% in the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after acquiring an additional 826 shares during the period. Finally, Centennial Bank AR purchased a new stake in Huntington Bancshares in the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. The Goldman Sachs Group reiterated a “buy” rating and set a $21.00 price target on shares of Huntington Bancshares in a research note on Tuesday, January 6th. Truist Financial reduced their price objective on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, March 13th. Argus lifted their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Zacks Research lowered Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. Finally, National Bank Financial set a $21.00 price target on shares of Huntington Bancshares in a report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.63.

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.