Huntington Bancshares (NASDAQ:HBAN) Director James Rollins III Purchases 1,127 Shares

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director James Rollins III purchased 1,127 shares of the business’s stock in a transaction on Monday, March 9th. The stock was purchased at an average cost of $25.39 per share, for a total transaction of $28,614.53. Following the acquisition, the director owned 4,000 shares in the company, valued at approximately $101,560. The trade was a 39.23% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Huntington Bancshares Price Performance

HBAN stock opened at $16.12 on Tuesday. The stock has a market capitalization of $32.72 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 0.66 and a beta of 0.95. The firm’s 50-day moving average price is $17.67 and its two-hundred day moving average price is $17.08. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80. Huntington Bancshares Incorporated has a 12-month low of $11.91 and a 12-month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the prior year, the company posted $0.34 earnings per share. As a group, equities analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, March 18th. This represents a $0.62 annualized dividend and a yield of 3.8%. Huntington Bancshares’s dividend payout ratio (DPR) is 44.60%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HBAN. Argus boosted their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Evercore began coverage on Huntington Bancshares in a research note on Tuesday, February 3rd. They issued an “outperform” rating and a $21.00 price target for the company. Barclays lifted their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, January 5th. National Bank Financial set a $21.00 price objective on shares of Huntington Bancshares in a research report on Wednesday, February 4th. Finally, Truist Financial upped their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $20.78.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Huntington Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock worth $3,319,385,000 after purchasing an additional 14,338,222 shares in the last quarter. State Street Corp lifted its position in Huntington Bancshares by 4.7% during the fourth quarter. State Street Corp now owns 77,228,656 shares of the bank’s stock valued at $1,351,806,000 after buying an additional 3,438,501 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Huntington Bancshares by 4,265.5% during the 4th quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock valued at $1,215,955,000 after buying an additional 68,478,435 shares in the last quarter. Boston Partners boosted its holdings in shares of Huntington Bancshares by 3.9% during the 3rd quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock valued at $1,091,615,000 after buying an additional 2,363,905 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Huntington Bancshares by 6.6% in the 4th quarter. Invesco Ltd. now owns 62,971,849 shares of the bank’s stock worth $1,092,562,000 after buying an additional 3,908,927 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

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.