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 firm’s stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $14.50, for a total value of $49,793.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $14.58 on Tuesday. The company has a market capitalization of $21.30 billion, a PE ratio of 11.85, a P/E/G ratio of 1.33 and a beta of 0.89. The company has a 50 day simple moving average of $14.56 and a two-hundred day simple moving average of $15.99. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares Incorporated has a fifty-two week low of $11.92 and a fifty-two week high of $18.45.

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

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date is Tuesday, June 17th. Huntington Bancshares’s payout ratio is 47.33%.

Huntington Bancshares declared that its board has initiated a share repurchase program on Thursday, April 17th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the bank to repurchase up to 5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Huntington Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of the business. D.A. Davidson & CO. boosted its holdings in shares of Huntington Bancshares by 173.0% during the 1st quarter. D.A. Davidson & CO. now owns 72,451 shares of the bank’s stock worth $1,087,000 after buying an additional 45,915 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of 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 buying an additional 198,796 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of 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 buying an additional 844 shares in the last quarter. Hudson Edge Investment Partners Inc. bought a new position in shares of Huntington Bancshares in the 1st quarter worth $6,787,000. Finally, LFA Lugano Financial Advisors SA bought a new position in shares of Huntington Bancshares in the 1st quarter worth $31,000. 80.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Truist Financial reduced their target price on Huntington Bancshares from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Argus set a $17.00 target price on Huntington Bancshares in a report on Friday. Robert W. Baird raised Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 target price on the stock in a report on Friday, March 7th. Raymond James reaffirmed a “strong-buy” rating and issued a $18.00 target price (down previously from $20.00) on shares of Huntington Bancshares in a report on Monday, April 21st. Finally, Royal Bank of Canada reduced their target price on Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and an average target price of $17.45.

About Huntington Bancshares

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.