James Rollins III Sells 223,522 Shares of Huntington Bancshares (NASDAQ:HBAN) Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director James Rollins III sold 223,522 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $17.35, for a total value of $3,878,106.70. Following the completion of the transaction, the director directly owned 612,155 shares in the company, valued at approximately $10,620,889.25. This represents a 26.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Huntington Bancshares Stock Down 2.7%

HBAN stock opened at $16.85 on Thursday. Huntington Bancshares Incorporated has a fifty-two week low of $14.89 and a fifty-two week high of $19.45. The business’s 50-day moving average is $16.37 and its two-hundred day moving average is $16.86. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. The company has a market cap of $34.16 billion, a price-to-earnings ratio of 12.96, a P/E/G ratio of 0.79 and a beta of 0.94.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 company earned $0.34 earnings per share. As a group, analysts forecast that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be paid 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 3.7%. Huntington Bancshares’s dividend payout ratio (DPR) is 47.69%.

Analyst Ratings Changes

Several research analysts have recently commented on HBAN shares. Truist Financial decreased their price objective on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Wall Street Zen raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Piper Sandler raised Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price objective on the stock in a research note on Thursday, April 23rd. Royal Bank Of Canada decreased their price objective on Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Finally, Morgan Stanley decreased their price objective on Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.05.

Hedge Funds Weigh In On Huntington Bancshares

Several institutional investors have recently added to or reduced their stakes in the company. Curry Webb Wealth Management LLC purchased a new position in Huntington Bancshares during the 1st quarter valued at approximately $3,204,000. Carlson Capital L.P. raised its position in Huntington Bancshares by 153.3% during the first quarter. Carlson Capital L.P. now owns 284,482 shares of the bank’s stock valued at $4,452,000 after purchasing an additional 172,182 shares during the period. Glenmede Trust Co. NA raised its position in Huntington Bancshares by 3.9% during the first quarter. Glenmede Trust Co. NA now owns 80,114 shares of the bank’s stock valued at $1,254,000 after purchasing an additional 2,986 shares during the period. Vestor Capital LLC lifted its stake in shares of Huntington Bancshares by 13.0% in the 1st quarter. Vestor Capital LLC now owns 5,636 shares of the bank’s stock valued at $88,000 after purchasing an additional 648 shares during the last quarter. Finally, Norris Financial Group LLC bought a new stake in shares of Huntington Bancshares in the 1st quarter valued at approximately $298,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

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.