Amit Dhingra Sells 10,000 Shares of Huntington Bancshares (NASDAQ:HBAN) Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) insider Amit Dhingra sold 10,000 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $18.50, for a total transaction of $185,000.00. Following the sale, the insider owned 155,634 shares of the company’s stock, valued at approximately $2,879,229. This trade represents a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Huntington Bancshares Price Performance

HBAN stock opened at $18.24 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.89. The firm has a market cap of $26.62 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 0.68 and a beta of 0.95. The company’s fifty day simple moving average is $16.82 and its 200 day simple moving average is $16.82. Huntington Bancshares Incorporated has a 12-month low of $11.91 and a 12-month high of $18.62.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Monday, December 1st. The bank reported $0.67 earnings per share for the quarter. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%.The firm had revenue of $580.00 million during the quarter. On average, analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Thursday, December 18th were issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Thursday, December 18th. Huntington Bancshares’s payout ratio is presently 43.36%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HBAN. Sagespring Wealth Partners LLC grew its holdings in Huntington Bancshares by 2.4% during the fourth quarter. Sagespring Wealth Partners LLC now owns 25,217 shares of the bank’s stock worth $438,000 after buying an additional 587 shares in the last quarter. Accurate Wealth Management LLC boosted its holdings in Huntington Bancshares by 3.5% during the 2nd quarter. Accurate Wealth Management LLC now owns 18,159 shares of the bank’s stock worth $319,000 after acquiring an additional 611 shares during the last quarter. LifeWealth Investments LLC boosted its holdings in Huntington Bancshares by 2.3% during the 2nd quarter. LifeWealth Investments LLC now owns 28,501 shares of the bank’s stock worth $478,000 after acquiring an additional 632 shares during the last quarter. Parcion Private Wealth LLC grew its stake in shares of Huntington Bancshares by 6.2% in the 3rd quarter. Parcion Private Wealth LLC now owns 11,081 shares of the bank’s stock worth $191,000 after acquiring an additional 648 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Huntington Bancshares by 0.4% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 164,551 shares of the bank’s stock valued at $2,758,000 after purchasing an additional 668 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on HBAN shares. Keefe, Bruyette & Woods increased their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “market perform” rating in a report on Monday, October 20th. Piper Sandler increased their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 10th. Barclays lifted their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. DA Davidson reaffirmed a “buy” rating and issued a $21.00 target price on shares of Huntington Bancshares in a research report on Tuesday, October 28th. Finally, Royal Bank Of Canada upped their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, December 19th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.03.

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.