Insider Selling: Huntington Bancshares Incorporated (NASDAQ:HBAN) CFO Sells 8,644 Shares of Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the sale, the chief financial officer now directly owns 259,943 shares in the company, valued at approximately $4,582,795.09. The trade was a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Huntington Bancshares Stock Up 0.9 %

HBAN opened at $17.69 on Monday. The stock has a market capitalization of $25.70 billion, a P/E ratio of 17.01, a price-to-earnings-growth ratio of 3.53 and a beta of 1.03. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. Huntington Bancshares Incorporated has a one year low of $10.73 and a one year high of $17.97. The business’s 50-day simple moving average is $15.38 and its 200-day simple moving average is $14.34.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same quarter in the previous year, the business earned $0.36 earnings per share. Analysts anticipate that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be paid a $0.155 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.50%. Huntington Bancshares’s dividend payout ratio is presently 59.62%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Piper Sandler upped their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, October 18th. DA Davidson increased their price target on Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research report on Monday, October 21st. Argus boosted their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Robert W. Baird cut shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 target price on the stock. in a report on Friday, July 26th. Finally, Bank of America boosted their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.09.

Institutional Investors Weigh In On Huntington Bancshares

Hedge funds have recently made changes to their positions in the business. Boston Partners raised its stake in Huntington Bancshares by 20.4% during the 1st quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock valued at $783,215,000 after acquiring an additional 9,533,511 shares during the last quarter. State Street Corp raised its stake in shares of Huntington Bancshares by 10.3% during the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after purchasing an additional 7,439,909 shares during the last quarter. FMR LLC lifted its holdings in shares of Huntington Bancshares by 16.8% during the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock worth $348,672,000 after purchasing an additional 3,410,597 shares during the period. National Bank of Canada FI increased its stake in Huntington Bancshares by 832.7% in the 1st quarter. National Bank of Canada FI now owns 3,337,625 shares of the bank’s stock valued at $46,927,000 after buying an additional 2,979,768 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Huntington Bancshares by 13.2% in the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after buying an additional 2,363,988 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.