Sen. Tina Smith Sells Off Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Senator Tina Smith (D-Minnesota) recently sold shares of Huntington Bancshares Incorporated (NASDAQ:HBAN). In a filing disclosed on November 26th, the Senator disclosed that they had sold between $100,001 and $250,000 in Huntington Bancshares stock on November 21st.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $16.27 on Thursday. The company has a market capitalization of $23.74 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 0.66 and a beta of 1.01. The business has a 50 day moving average of $16.15 and a 200 day moving average of $16.45. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.92 and a quick ratio of 0.91. Huntington Bancshares Incorporated has a 1-year low of $11.91 and a 1-year high of $18.33.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Wednesday, June 11th. The bank reported $0.28 earnings per share (EPS) for the quarter. Huntington Bancshares had a net margin of 18.06% and a return on equity of 12.14%. The firm had revenue of $469.00 million for the quarter. On average, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 18th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Thursday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is 43.36%.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, insider Helga Houston sold 64,587 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $15.38, for a total transaction of $993,348.06. Following the transaction, the insider directly owned 534,640 shares in the company, valued at $8,222,763.20. This represents a 10.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marcy C. Hingst sold 6,416 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $15.65, for a total transaction of $100,410.40. Following the sale, the executive vice president owned 252,305 shares in the company, valued at approximately $3,948,573.25. This trade represents a 2.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 112,103 shares of company stock worth $1,833,558 over the last quarter. 0.89% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

HBAN has been the topic of a number of analyst reports. Evercore ISI began coverage on Huntington Bancshares in a research note on Tuesday, October 21st. They set an “outperform” rating and a $18.00 target price on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “market perform” rating in a research note on Monday, October 20th. Zacks Research upgraded Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Morgan Stanley lifted their price target on Huntington Bancshares from $19.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Finally, Cowen reaffirmed a “buy” rating on shares of Huntington Bancshares in a research report on Monday, October 20th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.64.

Institutional Trading of Huntington Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HBAN. Family Legacy Financial Solutions LLC purchased a new position in shares of Huntington Bancshares during the 2nd quarter valued at approximately $25,000. MTM Investment Management LLC acquired a new stake in shares of Huntington Bancshares in the second quarter worth approximately $25,000. Palisade Asset Management LLC purchased a new stake in shares of Huntington Bancshares during the third quarter worth $26,000. South Plains Financial Inc. lifted its stake in Huntington Bancshares by 116.3% in the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after purchasing an additional 826 shares in the last quarter. Finally, Quarry LP lifted its position in Huntington Bancshares by 73.0% during the first quarter. Quarry LP now owns 1,929 shares of the bank’s stock worth $29,000 after buying an additional 814 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

About Senator Smith

Tina Smith (Democratic Party) is a member of the U.S. Senate from Minnesota. She assumed office on January 3, 2018. Her current term ends on January 3, 2027. Smith (Democratic Party) ran for re-election to the U.S. Senate to represent Minnesota. She won in the general election on November 3, 2020. Smith succeeded former Senator Al Franken (D). She assumed office on January 3, 2018. Smith won a full term in the special general election for the position on November 6, 2018. She defeated Karin Housley (R), Sarah Wellington (Legal Marijuana Now Party), and Jerry Trooien (Unaffiliated) to win the seat. She advanced to the general election after defeating five challengers in the special Democratic primary election on August 14, 2018. Smith previously served as the 48th lieutenant governor of Minnesota. She was elected to the position on a joint ticket with incumbent Governor Mark Dayton on November 4, 2014, and was sworn into office on January 5, 2015.

Huntington Bancshares Company Profile

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.