Gary Torgow Buys 14,200 Shares of Huntington Bancshares (NASDAQ:HBAN) Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director Gary Torgow acquired 14,200 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were purchased at an average cost of $17.81 per share, for a total transaction of $252,902.00. Following the completion of the acquisition, the director directly owned 943,341 shares in the company, valued at approximately $16,800,903.21. This represents a 1.53% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Huntington Bancshares Trading Down 0.4%

HBAN stock opened at $17.02 on Wednesday. The firm has a fifty day moving average price of $17.84 and a 200 day moving average price of $17.07. Huntington Bancshares Incorporated has a fifty-two week low of $11.91 and a fifty-two week high of $19.45. The firm has a market cap of $34.55 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 0.69 and a beta of 0.96. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter last year, the business earned $0.34 EPS. Sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th will be given a $0.155 dividend. The ex-dividend date is Wednesday, March 18th. This represents a $0.62 annualized dividend and a yield of 3.6%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 44.60%.

Institutional Trading of Huntington Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of HBAN. Sagespring Wealth Partners LLC grew its holdings in shares of Huntington Bancshares by 2.4% in the fourth quarter. Sagespring Wealth Partners LLC now owns 25,217 shares of the bank’s stock worth $438,000 after purchasing an additional 587 shares during the last quarter. MCF Advisors LLC boosted its position in Huntington Bancshares by 12.6% in the 4th quarter. MCF Advisors LLC now owns 5,438 shares of the bank’s stock valued at $95,000 after buying an additional 609 shares during the period. Parcion Private Wealth LLC grew its stake in 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. Strategic Planning Inc. grew its stake in Huntington Bancshares by 0.3% in the 3rd quarter. Strategic Planning Inc. now owns 199,318 shares of the bank’s stock worth $3,442,000 after acquiring an additional 670 shares in the last quarter. Finally, Rehmann Capital Advisory Group increased its position in shares of Huntington Bancshares by 4.3% during the third quarter. Rehmann Capital Advisory Group now owns 16,881 shares of the bank’s stock worth $292,000 after acquiring an additional 694 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

HBAN has been the subject of several analyst reports. Wolfe Research reaffirmed an “outperform” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research note on Wednesday, January 7th. Raymond James Financial increased their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company a “strong-buy” rating in a report on Friday, January 23rd. UBS Group set a $21.00 price objective on shares of Huntington Bancshares in a research note on Wednesday, February 4th. JPMorgan Chase & Co. boosted their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. Finally, Wall Street Zen lowered shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.60.

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.