Huntington Bancshares Incorporated (NASDAQ:HBAN) Director Richard W. Neu acquired 6,750 shares of the business’s stock in a transaction on Tuesday, October 30th. The stock was acquired at an average cost of $13.88 per share, for a total transaction of $93,690.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of HBAN stock traded up $0.25 during mid-day trading on Wednesday, hitting $14.33. The stock had a trading volume of 12,339,000 shares, compared to its average volume of 9,900,222. Huntington Bancshares Incorporated has a 12-month low of $13.04 and a 12-month high of $16.60. The stock has a market capitalization of $15.03 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 0.78 and a beta of 1.35. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.96.
Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Tuesday, October 23rd. The bank reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Huntington Bancshares had a return on equity of 13.73% and a net margin of 29.13%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.25 EPS. Research analysts predict that Huntington Bancshares Incorporated will post 1.22 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Tuesday, December 18th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend is Monday, December 17th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 57.14%.
Several equities analysts have commented on the company. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $16.50 price objective on shares of Huntington Bancshares in a research report on Thursday, July 26th. BidaskClub downgraded Huntington Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Raymond James cut their price objective on Huntington Bancshares from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, October 24th. BMO Capital Markets cut their price objective on Huntington Bancshares from $17.00 to $15.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 24th. Finally, Zacks Investment Research cut Huntington Bancshares from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $17.19.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Comerica Bank lifted its stake in shares of Huntington Bancshares by 1.2% during the 2nd quarter. Comerica Bank now owns 273,908 shares of the bank’s stock worth $4,086,000 after purchasing an additional 3,336 shares during the last quarter. Foster & Motley Inc. lifted its stake in shares of Huntington Bancshares by 21.8% during the 2nd quarter. Foster & Motley Inc. now owns 18,757 shares of the bank’s stock worth $277,000 after purchasing an additional 3,359 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Huntington Bancshares by 2.0% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 168,502 shares of the bank’s stock worth $2,487,000 after purchasing an additional 3,371 shares during the last quarter. CIBC World Markets Inc. lifted its stake in shares of Huntington Bancshares by 5.0% during the 2nd quarter. CIBC World Markets Inc. now owns 74,787 shares of the bank’s stock worth $1,104,000 after purchasing an additional 3,567 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in shares of Huntington Bancshares by 3.2% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 121,531 shares of the bank’s stock worth $1,813,000 after purchasing an additional 3,810 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.
Huntington Bancshares Company Profile
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company's Consumer and Business Banking segment offers financial products and services, such as checking accounts, savings accounts, money market accounts, certificates of deposit, consumer loans, and small business loans; and investments, mortgages, insurance, interest rate risk protection, and foreign exchange and treasury management services.
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