Huntington Bancshares Incorporated (NASDAQ:HBAN) EVP Daniel J. Neumeyer sold 43,491 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $13.88, for a total value of $603,655.08. Following the sale, the executive vice president now directly owns 427,270 shares of the company’s stock, valued at $5,930,507.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Huntington Bancshares Incorporated (HBAN) opened at $13.78 on Friday. Huntington Bancshares Incorporated has a 52-week low of $10.07 and a 52-week high of $14.74. The firm has a market capitalization of $14,895.44, a price-to-earnings ratio of 14.35, a PEG ratio of 1.57 and a beta of 1.34. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.87.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Wednesday, October 25th. The bank reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Huntington Bancshares had a net margin of 20.76% and a return on equity of 11.96%. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the business earned $0.11 EPS. sell-side analysts forecast that Huntington Bancshares Incorporated will post 0.98 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 18th will be given a $0.11 dividend. The ex-dividend date is Friday, December 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.19%. This is a boost from Huntington Bancshares’s previous quarterly dividend of $0.08. Huntington Bancshares’s dividend payout ratio (DPR) is currently 39.51%.
Hedge funds have recently made changes to their positions in the company. Sun Life Financial INC increased its position in shares of Huntington Bancshares by 99,812.5% in the second quarter. Sun Life Financial INC now owns 7,993 shares of the bank’s stock valued at $108,000 after buying an additional 7,985 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of Huntington Bancshares in the second quarter valued at $134,000. Verition Fund Management LLC purchased a new position in shares of Huntington Bancshares in the second quarter valued at $139,000. Bronfman E.L. Rothschild L.P. increased its position in shares of Huntington Bancshares by 8.7% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 10,382 shares of the bank’s stock valued at $140,000 after buying an additional 834 shares in the last quarter. Finally, Foster & Motley Inc. increased its position in shares of Huntington Bancshares by 2.2% in the second quarter. Foster & Motley Inc. now owns 10,504 shares of the bank’s stock valued at $142,000 after buying an additional 224 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.
Several brokerages recently weighed in on HBAN. BidaskClub downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Keefe, Bruyette & Woods set a $14.00 price target on Huntington Bancshares and gave the stock a “hold” rating in a report on Friday, August 11th. Piper Jaffray Companies raised Huntington Bancshares from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $14.00 to $15.00 in a report on Friday, August 11th. Instinet reaffirmed a “buy” rating and set a $16.00 price target (up from $15.00) on shares of Huntington Bancshares in a report on Wednesday, July 12th. Finally, BMO Capital Markets downgraded Huntington Bancshares from an “outperform” rating to a “market perform” rating and set a $16.00 price target for the company. in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $15.22.
About Huntington Bancshares
Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.
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