Insider Selling: Huntington Bancshares Incorporated (NASDAQ:HBAN) VP Sells 50,000 Shares of Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) VP Brantley J. Standridge sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total transaction of $680,000.00. Following the completion of the transaction, the vice president now owns 385,409 shares in the company, valued at approximately $5,241,562.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Huntington Bancshares Stock Down 1.3 %

HBAN stock opened at $13.58 on Friday. Huntington Bancshares Incorporated has a twelve month low of $9.13 and a twelve month high of $14.07. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $19.69 billion, a P/E ratio of 12.23, a PEG ratio of 2.51 and a beta of 1.11. The firm has a 50 day simple moving average of $13.35 and a 200-day simple moving average of $12.23.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the company earned $0.38 earnings per share. On average, equities research analysts predict that Huntington Bancshares Incorporated will post 1.22 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date is Friday, June 14th. Huntington Bancshares’s dividend payout ratio is presently 55.86%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on HBAN shares. Jefferies Financial Group upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating and raised their price target for the company from $14.00 to $16.00 in a report on Monday, April 8th. Morgan Stanley restated an “overweight” rating and issued a $16.00 price target on shares of Huntington Bancshares in a report on Monday. Bank of America upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price target for the company from $14.00 to $16.00 in a report on Monday, April 8th. Stephens reiterated an “equal weight” rating and set a $15.00 price objective on shares of Huntington Bancshares in a research note on Monday. Finally, DA Davidson upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $14.00 to $15.50 in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.17.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds have recently added to or reduced their stakes in the business. Wetzel Investment Advisors Inc. acquired a new position in Huntington Bancshares in the fourth quarter worth $29,000. Future Financial Wealth Managment LLC acquired a new position in Huntington Bancshares in the first quarter worth $29,000. Nemes Rush Group LLC boosted its holdings in Huntington Bancshares by 140.9% in the fourth quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock worth $30,000 after purchasing an additional 1,391 shares during the period. Planned Solutions Inc. acquired a new position in Huntington Bancshares in the fourth quarter worth $33,000. Finally, Authentikos Wealth Advisory LLC acquired a new position in Huntington Bancshares in the third quarter worth $35,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

About Huntington Bancshares

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 offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.