Huntington Bancshares Incorporated (NASDAQ:HBAN) CFO Sells $499,290.00 in Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) CFO Zachary Jacob Wasserman sold 33,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the transaction, the chief financial officer now directly owns 265,809 shares of the company’s stock, valued at approximately $4,021,690.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Huntington Bancshares Price Performance

Shares of HBAN opened at $15.13 on Friday. Huntington Bancshares Incorporated has a 12-month low of $9.25 and a 12-month high of $15.24. The business’s fifty day moving average is $13.45 and its 200 day moving average is $13.31. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. The stock has a market cap of $21.93 billion, a P/E ratio of 13.63, a P/E/G ratio of 3.08 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same period last year, the business earned $0.35 EPS. Sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.19 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend is Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio is currently 55.86%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on HBAN. Baird R W downgraded Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. decreased their target price on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a research report on Thursday, June 27th. Morgan Stanley increased their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Jefferies Financial Group decreased their target price on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Finally, Bank of America increased their target price on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average target price of $15.47.

Hedge Funds Weigh In On Huntington Bancshares

Large investors have recently modified their holdings of the company. WealthShield Partners LLC raised its position in Huntington Bancshares by 5.9% in the 2nd quarter. WealthShield Partners LLC now owns 12,237 shares of the bank’s stock valued at $163,000 after buying an additional 683 shares during the last quarter. Summit Financial Strategies Inc. raised its position in Huntington Bancshares by 2.5% in the 2nd quarter. Summit Financial Strategies Inc. now owns 30,955 shares of the bank’s stock valued at $408,000 after buying an additional 762 shares during the last quarter. State of Alaska Department of Revenue raised its position in Huntington Bancshares by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 157,152 shares of the bank’s stock valued at $2,192,000 after buying an additional 780 shares during the last quarter. Park Avenue Securities LLC raised its position in Huntington Bancshares by 1.3% in the 1st quarter. Park Avenue Securities LLC now owns 63,098 shares of the bank’s stock valued at $880,000 after buying an additional 794 shares during the last quarter. Finally, TCW Group Inc. raised its position in Huntington Bancshares by 4.1% in the 2nd quarter. TCW Group Inc. now owns 20,235 shares of the bank’s stock valued at $267,000 after buying an additional 794 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

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.