Insider Buying: Huntington Bancshares Incorporated (NASDAQ:HBAN) CEO Acquires 14,234 Shares of Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) CEO Stephen D. Steinour acquired 14,234 shares of the firm’s stock in a transaction dated Tuesday, April 26th. The stock was purchased at an average cost of $13.98 per share, with a total value of $198,991.32. Following the transaction, the chief executive officer now owns 627,104 shares in the company, valued at $8,766,913.92. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Shares of Huntington Bancshares stock opened at $13.58 on Friday. Huntington Bancshares Incorporated has a twelve month low of $13.01 and a twelve month high of $17.79. The company has a quick ratio of 0.81, a current ratio of 0.80 and a debt-to-equity ratio of 0.40. The company has a 50-day simple moving average of $14.56 and a two-hundred day simple moving average of $15.45. The stock has a market capitalization of $19.62 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 0.48 and a beta of 1.19.

Huntington Bancshares (NASDAQ:HBAN – Get Rating) last issued its quarterly earnings data on Thursday, April 21st. The bank reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). Huntington Bancshares had a return on equity of 12.19% and a net margin of 26.96%. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the firm earned $0.48 EPS. Huntington Bancshares’s revenue for the quarter was up 20.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.38 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 17th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.57%. The ex-dividend date is Thursday, June 16th. Huntington Bancshares’s dividend payout ratio (DPR) is 52.99%.

A number of research analysts have recently commented on HBAN shares. Stephens raised shares of Huntington Bancshares from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $16.00 to $17.00 in a research report on Monday. Raymond James cut their target price on shares of Huntington Bancshares from $19.00 to $18.00 and set a “strong-buy” rating for the company in a research note on Friday, April 22nd. Barclays cut shares of Huntington Bancshares from an “equal weight” rating to an “underweight” rating and set a $17.00 target price for the company. in a research note on Monday, January 3rd. Morgan Stanley cut their target price on shares of Huntington Bancshares from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Monday, March 28th. Finally, UBS Group started coverage on shares of Huntington Bancshares in a research note on Wednesday, January 12th. They set a “buy” rating and a $21.00 target price for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.71.

A number of institutional investors have recently modified their holdings of the business. Tortoise Investment Management LLC raised its position in shares of Huntington Bancshares by 433.3% in the 4th quarter. Tortoise Investment Management LLC now owns 1,600 shares of the bank’s stock valued at $25,000 after buying an additional 1,300 shares in the last quarter. Avondale Wealth Management acquired a new position in shares of Huntington Bancshares in the 4th quarter valued at approximately $26,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Huntington Bancshares in the 4th quarter valued at approximately $27,000. Riverview Trust Co acquired a new position in shares of Huntington Bancshares in the 1st quarter valued at approximately $27,000. Finally, Larson Financial Group LLC acquired a new position in shares of Huntington Bancshares in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 78.27% of the company’s stock.

Huntington Bancshares Company Profile (Get Rating)

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).

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