Daniel J. Neumeyer Sells 43,491 Shares of Huntington Bancshares Incorporated (HBAN) Stock
Huntington Bancshares Incorporated (NASDAQ:HBAN) EVP Daniel J. Neumeyer sold 43,491 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $13.88, for a total value of $603,655.08. Following the transaction, the executive vice president now owns 427,270 shares of the company’s stock, valued at $5,930,507.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Wednesday, October 25th. The bank reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.02). Huntington Bancshares had a return on equity of 11.96% and a net margin of 20.76%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the business posted $0.11 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 18th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Friday, December 15th. This is an increase from Huntington Bancshares’s previous quarterly dividend of $0.08. Huntington Bancshares’s dividend payout ratio (DPR) is 39.51%.
Hedge funds have recently modified their holdings of the stock. Nationwide Fund Advisors raised its position in shares of Huntington Bancshares by 430.6% in the second quarter. Nationwide Fund Advisors now owns 1,620,866 shares of the bank’s stock worth $21,914,000 after buying an additional 1,315,390 shares in the last quarter. Budros Ruhlin & Roe Inc. raised its position in shares of Huntington Bancshares by 57.9% in the second quarter. Budros Ruhlin & Roe Inc. now owns 42,263 shares of the bank’s stock worth $571,000 after buying an additional 15,501 shares in the last quarter. First National Bank of Omaha raised its position in shares of Huntington Bancshares by 0.6% in the second quarter. First National Bank of Omaha now owns 312,098 shares of the bank’s stock worth $4,219,000 after buying an additional 1,844 shares in the last quarter. IBM Retirement Fund raised its position in shares of Huntington Bancshares by 121.4% in the second quarter. IBM Retirement Fund now owns 26,505 shares of the bank’s stock worth $401,000 after buying an additional 14,533 shares in the last quarter. Finally, Exchange Capital Management Inc. raised its position in shares of Huntington Bancshares by 96.4% in the second quarter. Exchange Capital Management Inc. now owns 66,824 shares of the bank’s stock worth $903,000 after buying an additional 32,792 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.
HBAN has been the subject of several research reports. FBR & Co reissued a “hold” rating and set a $14.00 price target on shares of Huntington Bancshares in a report on Thursday, October 26th. BidaskClub raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Nomura lifted their price target on Huntington Bancshares from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Instinet reissued a “buy” rating and set a $16.00 price target (up from $15.00) on shares of Huntington Bancshares in a report on Wednesday, July 12th. Finally, BMO Capital Markets cut Huntington Bancshares from an “outperform” rating to a “market perform” rating and set a $16.00 price target for the company. in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $15.22.
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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