Huntington Bancshares Incorporated (NASDAQ:HBAN) Insider Kendall A. Kowalski Sells 3,434 Shares

Huntington Bancshares Incorporated (NASDAQ:HBAN) insider Kendall A. Kowalski sold 3,434 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $14.50, for a total transaction of $49,793.00. Following the completion of the sale, the insider now owns 66,847 shares in the company, valued at approximately $969,281.50. This trade represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Huntington Bancshares Price Performance

NASDAQ:HBAN opened at $14.58 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The stock’s 50 day moving average price is $14.56 and its two-hundred day moving average price is $15.99. The firm has a market capitalization of $21.30 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 1.33 and a beta of 0.89. Huntington Bancshares Incorporated has a 12-month low of $11.92 and a 12-month high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.89 billion. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter in the prior year, the company earned $0.27 earnings per share. On average, analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.25%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.33%.

Huntington Bancshares declared that its Board of Directors has authorized a share buyback program on Thursday, April 17th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the bank to buy up to 5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Huntington Bancshares

A number of large investors have recently made changes to their positions in the company. D.A. Davidson & CO. increased its stake in shares of Huntington Bancshares by 173.0% during the first quarter. D.A. Davidson & CO. now owns 72,451 shares of the bank’s stock worth $1,087,000 after purchasing an additional 45,915 shares during the period. Teacher Retirement System of Texas increased its stake in Huntington Bancshares by 1,462.4% during the 1st quarter. Teacher Retirement System of Texas now owns 212,390 shares of the bank’s stock worth $3,188,000 after acquiring an additional 198,796 shares during the period. First Horizon Advisors Inc. increased its stake in Huntington Bancshares by 5.5% during the 1st quarter. First Horizon Advisors Inc. now owns 16,073 shares of the bank’s stock worth $241,000 after acquiring an additional 844 shares during the period. Hudson Edge Investment Partners Inc. bought a new position in Huntington Bancshares during the 1st quarter worth $6,787,000. Finally, LFA Lugano Financial Advisors SA bought a new position in Huntington Bancshares during the 1st quarter worth $31,000. Institutional investors own 80.72% of the company’s stock.

Analysts Set New Price Targets

HBAN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. Royal Bank of Canada reduced their price objective on Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. Piper Sandler reduced their price objective on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research report on Tuesday, January 21st. Raymond James reaffirmed a “strong-buy” rating and set a $18.00 price objective (down from $20.00) on shares of Huntington Bancshares in a research report on Monday, April 21st. Finally, Morgan Stanley reduced their price objective on Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.45.

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.