Zachary Jacob Wasserman Sells 59,060 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) CFO Zachary Jacob Wasserman sold 59,060 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $14.36, for a total value of $848,101.60. Following the completion of the sale, the chief financial officer now directly owns 277,348 shares of the company’s stock, valued at approximately $3,982,717.28. This trade represents a 17.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Zachary Jacob Wasserman also recently made the following trade(s):

• On Thursday, March 13th, Zachary Jacob Wasserman sold 38,451 shares of Huntington Bancshares stock. The shares were sold at an average price of $14.38, for a total value of $552,925.38.

Huntington Bancshares Trading Up 3.1 %

Shares of HBAN stock opened at $15.08 on Friday. The stock has a market capitalization of $22.03 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 1.33 and a beta of 0.89. The company’s fifty day simple moving average is $14.45 and its two-hundred day simple moving average is $15.97. Huntington Bancshares Incorporated has a 1 year low of $11.92 and a 1 year high of $18.45. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter in the prior year, the firm posted $0.27 EPS. As a group, analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares announced that its board has initiated a stock buyback program on Thursday, April 17th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the bank to repurchase up to 5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 annualized dividend and a yield of 4.11%. Huntington Bancshares’s dividend payout ratio is currently 47.33%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Norges Bank bought a new stake in Huntington Bancshares during the fourth quarter valued at $302,826,000. Raymond James Financial Inc. bought a new stake in shares of Huntington Bancshares during the 4th quarter valued at about $150,444,000. FMR LLC grew its holdings in shares of Huntington Bancshares by 36.9% during the fourth quarter. FMR LLC now owns 32,479,039 shares of the bank’s stock worth $528,434,000 after purchasing an additional 8,759,871 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Huntington Bancshares by 126.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,048,773 shares of the bank’s stock worth $114,684,000 after purchasing an additional 3,938,769 shares during the last quarter. Finally, Amundi raised its stake in Huntington Bancshares by 26.7% in the fourth quarter. Amundi now owns 17,435,207 shares of the bank’s stock valued at $286,460,000 after purchasing an additional 3,671,235 shares in the last quarter. 80.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. Argus set a $17.00 price objective on shares of Huntington Bancshares in a research note on Friday, April 25th. Piper Sandler dropped their target price on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 21st. Citigroup reduced their target price on Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating for the company in a report on Monday, March 24th. Finally, Deutsche Bank Aktiengesellschaft upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.50 price target on the stock in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $17.45.

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.