James Rollins III Buys 8,471 Shares of Huntington Bancshares (NASDAQ:HBAN) Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director James Rollins III bought 8,471 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The shares were purchased at an average price of $18.01 per share, for a total transaction of $152,562.71. Following the transaction, the director owned 11,500 shares of the company’s stock, valued at $207,115. The trade was a 279.66% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Huntington Bancshares Stock Up 2.8%

Shares of NASDAQ HBAN opened at $16.76 on Friday. 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 $34.14 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 0.75 and a beta of 0.95. Huntington Bancshares Incorporated has a 1 year low of $14.42 and a 1 year high of $19.45. The firm’s 50 day moving average price is $16.23 and its 200 day moving average price is $16.72.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.21. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same quarter last year, the firm posted $0.34 earnings per share. As a group, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.7%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.69%.

Analyst Upgrades and Downgrades

HBAN has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. Keefe, Bruyette & Woods cut their price target on shares of Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating on the stock in a research note on Friday, January 23rd. Wall Street Zen raised shares of Huntington Bancshares from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. Truist Financial cut their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating for the company in a research report on Thursday. One equities research 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 company’s stock. Based on data from MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average target price of $20.05.

Institutional Investors Weigh In On Huntington Bancshares

A number of large investors have recently added to or reduced their stakes in HBAN. MV Capital Management Inc. acquired a new stake in Huntington Bancshares during the 4th quarter valued at $25,000. Palisade Asset Management LLC acquired a new stake in Huntington Bancshares during the 3rd quarter valued at $26,000. South Plains Financial Inc. grew 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 valued at $27,000 after purchasing an additional 826 shares in the last quarter. Centennial Bank AR acquired a new stake in Huntington Bancshares during the 4th quarter valued at $28,000. Finally, Accredited Wealth Management LLC grew its holdings in Huntington Bancshares by 374.5% during the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,322 shares in the last quarter. 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.