Insider Buying: Huntington Bancshares (NASDAQ:HBAN) Director Buys $120,224.25 in Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director James Rollins III acquired 6,075 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was acquired at an average price of $19.79 per share, for a total transaction of $120,224.25. Following the purchase, the director directly owned 12,000 shares of the company’s stock, valued at approximately $237,480. This trade represents a 102.53% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Huntington Bancshares Price Performance

NASDAQ:HBAN opened at $16.52 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. The stock’s 50 day moving average price is $16.14 and its two-hundred day moving average price is $16.78. The firm has a market capitalization of $33.49 billion, a price-to-earnings ratio of 12.71, a P/E/G ratio of 0.75 and a beta of 0.94. Huntington Bancshares Incorporated has a 12-month low of $14.89 and a 12-month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last posted its 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 return on equity of 11.42% and a net margin of 16.63%.The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share. On average, analysts anticipate that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

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

Institutional Investors Weigh In On Huntington Bancshares

Several institutional investors have recently made changes to their positions in the stock. Carlson Capital L.P. lifted its stake in Huntington Bancshares by 153.3% during the first quarter. Carlson Capital L.P. now owns 284,482 shares of the bank’s stock worth $4,452,000 after purchasing an additional 172,182 shares during the last quarter. Glenmede Trust Co. NA lifted its stake in Huntington Bancshares by 3.9% during the first quarter. Glenmede Trust Co. NA now owns 80,114 shares of the bank’s stock worth $1,254,000 after purchasing an additional 2,986 shares during the last quarter. Vestor Capital LLC lifted its stake in Huntington Bancshares by 13.0% during the first quarter. Vestor Capital LLC now owns 5,636 shares of the bank’s stock worth $88,000 after purchasing an additional 648 shares during the last quarter. Norris Financial Group LLC bought a new stake in Huntington Bancshares during the first quarter worth $298,000. Finally, Western Wealth Management LLC bought a new stake in Huntington Bancshares during the first quarter worth $44,000. 80.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HBAN has been the topic of several research reports. JPMorgan Chase & Co. decreased their target price on Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Wall Street Zen raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Royal Bank Of Canada decreased their target price on Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Barclays cut Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. Finally, Evercore cut their price target on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Monday, April 6th. One investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.