Scott Kleinman Sells 65,530 Shares of Huntington Bancshares (NASDAQ:HBAN) Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) VP Scott Kleinman sold 65,530 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $15.28, for a total transaction of $1,001,298.40. Following the sale, the vice president owned 481,676 shares in the company, valued at approximately $7,360,009.28. This trade represents a 11.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $15.39 on Wednesday. The company has a market cap of $31.35 billion, a P/E ratio of 11.07, a PEG ratio of 0.62 and a beta of 0.95. The business has a 50 day moving average of $17.42 and a two-hundred day moving average of $16.99. Huntington Bancshares Incorporated has a 52 week low of $11.91 and a 52 week high of $19.45. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $2.21 billion. Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.During the same quarter in the previous year, the company posted $0.34 earnings per share. As a group, analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Wednesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 44.60%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. MTM Investment Management LLC bought a new stake in shares of Huntington Bancshares in the 2nd quarter valued at approximately $25,000. MV Capital Management Inc. acquired a new stake in Huntington Bancshares in the 4th quarter valued at $25,000. Palisade Asset Management LLC acquired a new stake in Huntington Bancshares in the 3rd quarter valued at $26,000. South Plains Financial Inc. grew its position in Huntington Bancshares by 116.3% in the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after acquiring an additional 826 shares during the period. Finally, Centennial Bank AR acquired a new position in Huntington Bancshares during the fourth quarter worth $28,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on HBAN shares. Morgan Stanley upped their price target on shares of Huntington Bancshares from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Barclays boosted their target price 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 dropped their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Huntington Bancshares in a report on Thursday, January 22nd. Finally, Argus increased their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $20.63.

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.