Huntington Bancshares Incorporated (HBAN) Sees Significant Drop in Short Interest

Huntington Bancshares Incorporated (NASDAQ:HBAN) saw a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 12,147,306 shares, a decrease of 35.6% from the February 15th total of 18,872,682 shares. Based on an average daily trading volume, of 8,979,597 shares, the days-to-cover ratio is presently 1.4 days. Approximately 1.6% of the company’s stock are sold short.

Shares of Huntington Bancshares (NASDAQ:HBAN) opened at $16.29 on Wednesday. Huntington Bancshares has a 12 month low of $12.14 and a 12 month high of $16.60. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $17,460.00, a price-to-earnings ratio of 18.72, a P/E/G ratio of 1.25 and a beta of 1.33.

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Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. Huntington Bancshares had a return on equity of 11.98% and a net margin of 27.84%. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the business earned $0.18 EPS. equities analysts expect that Huntington Bancshares will post 1.21 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 19th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Friday, March 16th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.57%.

A number of institutional investors and hedge funds have recently bought and sold shares of HBAN. SWS Partners bought a new position in Huntington Bancshares during the 4th quarter worth $126,000. Kovack Advisors Inc. bought a new position in Huntington Bancshares during the 4th quarter worth $147,000. ClariVest Asset Management LLC increased its position in Huntington Bancshares by 53.4% during the 3rd quarter. ClariVest Asset Management LLC now owns 11,200 shares of the bank’s stock worth $156,000 after buying an additional 3,900 shares during the period. Mariner Wealth Advisors LLC bought a new position in Huntington Bancshares during the 4th quarter worth $158,000. Finally, Signition LP bought a new position in Huntington Bancshares during the 4th quarter worth $171,000. Institutional investors and hedge funds own 74.07% of the company’s stock.

Several research firms have recently commented on HBAN. ValuEngine downgraded Huntington Bancshares from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Morgan Stanley increased their price objective on Huntington Bancshares from $16.50 to $17.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. BidaskClub raised Huntington Bancshares from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 7th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $16.75 price objective on shares of Huntington Bancshares in a report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. increased their price objective on Huntington Bancshares from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Nine research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $16.76.

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Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.

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