Huntington Bancshares Incorporated (NASDAQ:HBAN) CFO Howell D. Mccullough III sold 68,777 shares of Huntington Bancshares stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $16.17, for a total value of $1,112,124.09. Following the completion of the transaction, the chief financial officer now owns 720,413 shares of the company’s stock, valued at approximately $11,649,078.21. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of HBAN stock opened at $16.31 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. Huntington Bancshares Incorporated has a 1 year low of $12.14 and a 1 year high of $16.60. The firm has a market cap of $17.97 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 0.90 and a beta of 1.32.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Wednesday, July 25th. The bank reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.01. Huntington Bancshares had a return on equity of 12.93% and a net margin of 27.90%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the firm posted $0.26 EPS. equities analysts expect that Huntington Bancshares Incorporated will post 1.24 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Monday, September 17th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Friday, September 14th. This is a positive change from Huntington Bancshares’s previous quarterly dividend of $0.11. Huntington Bancshares’s payout ratio is 44.90%.
Hedge funds have recently made changes to their positions in the business. Stelac Advisory Services LLC acquired a new position in Huntington Bancshares during the 1st quarter worth $131,000. IHT Wealth Management LLC boosted its position in Huntington Bancshares by 164.4% during the 1st quarter. IHT Wealth Management LLC now owns 9,421 shares of the bank’s stock worth $138,000 after acquiring an additional 5,858 shares during the period. Institutional & Family Asset Management LLC acquired a new position in Huntington Bancshares during the 1st quarter worth $140,000. Dupont Capital Management Corp boosted its position in Huntington Bancshares by 79.3% during the 2nd quarter. Dupont Capital Management Corp now owns 9,657 shares of the bank’s stock worth $143,000 after acquiring an additional 4,270 shares during the period. Finally, GAM Holding AG bought a new stake in shares of Huntington Bancshares in the 2nd quarter worth $154,000. Institutional investors own 73.81% of the company’s stock.
HBAN has been the subject of several research reports. BidaskClub upgraded Huntington Bancshares from a “hold” rating to a “buy” rating in a research report on Wednesday, June 6th. Zacks Investment Research upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Tuesday, July 17th. Piper Jaffray Companies reiterated a “buy” rating and issued a $16.50 target price on shares of Huntington Bancshares in a research report on Thursday, July 26th. Finally, Jefferies Financial Group lifted their target price on Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $17.05.
About Huntington Bancshares
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company's Consumer and Business Banking segment offers financial products and services, such as checking accounts, savings accounts, money market accounts, certificates of deposit, consumer loans, and small business loans; and investments, mortgages, insurance, interest rate risk protection, and foreign exchange and treasury management services.
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