Huntington Bancshares (NASDAQ:HBAN) Director James Rollins III Sells 223,522 Shares

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director James Rollins III sold 223,522 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $17.35, for a total value of $3,878,106.70. Following the transaction, the director directly owned 612,155 shares of the company’s stock, valued at approximately $10,620,889.25. This trade represents a 26.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $17.32 on Wednesday. The stock has a fifty day simple moving average of $16.35 and a two-hundred day simple moving average of $16.85. Huntington Bancshares Incorporated has a 1-year low of $14.89 and a 1-year high of $19.45. The firm has a market cap of $35.11 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 0.78 and a beta of 0.94. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The business had revenue of $2.59 billion during 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. Analysts anticipate that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio is 47.69%.

Hedge Funds Weigh In On Huntington Bancshares

A number of large investors have recently made changes to their positions in HBAN. MV Capital Management Inc. purchased a new stake in shares of Huntington Bancshares in the fourth quarter worth $25,000. Palisade Asset Management LLC purchased a new stake in shares of Huntington Bancshares in the third quarter worth $26,000. South Plains Financial Inc. raised its position in shares of Huntington Bancshares by 116.3% in the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after buying an additional 826 shares in the last quarter. Centennial Bank AR purchased a new stake in shares of Huntington Bancshares in the fourth quarter worth $28,000. Finally, Accredited Wealth Management LLC raised its position in shares of Huntington Bancshares by 374.5% in the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock worth $29,000 after buying an additional 1,322 shares in the last quarter. 80.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HBAN. Royal Bank Of Canada reduced their price objective on Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. Piper Sandler raised Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price target for the company in a report on Thursday, April 23rd. Wall Street Zen raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley cut their price target on Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Friday, April 24th. Finally, Stephens assumed coverage on Huntington Bancshares in a report on Monday. They issued an “equal weight” rating and a $19.00 price target for the company. One investment 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 assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.05.

Huntington Bancshares Company Profile

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.