Insider Selling: Huntington Bancshares (NASDAQ:HBAN) EVP Sells $190,224.00 in Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) EVP Marcy Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the completion of the transaction, the executive vice president owned 267,859 shares in the company, valued at $4,821,462. The trade was a 3.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $17.79 on Monday. The firm has a market capitalization of $36.06 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 0.81 and a beta of 0.94. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. Huntington Bancshares Incorporated has a one year low of $14.89 and a one year high of $19.45. The company’s 50 day moving average price is $16.50 and its 200 day moving average price is $16.89.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.21. The company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same quarter in the prior year, the business earned $0.34 earnings per share. On average, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.62 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be given 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 3.5%. Huntington Bancshares’s payout ratio is presently 47.69%.

Wall Street Analysts Forecast Growth

HBAN has been the subject of several research reports. DA Davidson decreased their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a report on Monday, March 16th. Morgan Stanley cut their price target on Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, April 24th. Wall Street Zen upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Truist Financial dropped their target price on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Finally, Jefferies Financial Group raised their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, April 24th. One equities research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $20.05.

Institutional Trading of Huntington Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its holdings in 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 worth $1,215,955,000 after buying an additional 68,478,435 shares during the period. Norges Bank acquired a new position in shares of Huntington Bancshares in the fourth quarter worth about $432,584,000. Vanguard Group Inc. increased its position in shares of 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 acquiring an additional 14,338,222 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Huntington Bancshares by 27.2% in the first quarter. Dimensional Fund Advisors LP now owns 23,480,601 shares of the bank’s stock worth $367,388,000 after acquiring an additional 5,026,894 shares in the last quarter. Finally, Junto Capital Management LP acquired a new stake in shares of Huntington Bancshares during the third quarter valued at approximately $85,690,000. 80.72% of the stock is currently owned by institutional investors.

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.