Insider Selling: Huntington Bancshares Incorporated (NASDAQ:HBAN) VP Sells 28,600 Shares of Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the sale, the vice president now owns 496,076 shares in the company, valued at approximately $8,765,662.92. This represents a 5.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Huntington Bancshares Trading Up 0.9 %

Shares of Huntington Bancshares stock traded up $0.16 during trading on Friday, reaching $17.69. 16,154,668 shares of the stock were exchanged, compared to its average volume of 16,113,701. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. Huntington Bancshares Incorporated has a 1 year low of $10.73 and a 1 year high of $17.97. The stock’s fifty day moving average is $15.32 and its 200 day moving average is $14.30. The firm has a market cap of $25.70 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 3.55 and a beta of 1.03.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the business posted $0.36 earnings per share. As a group, equities research analysts expect that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio is 59.62%.

Hedge Funds Weigh In On Huntington Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the business. Empowered Funds LLC increased its position in shares of Huntington Bancshares by 28.6% during the first quarter. Empowered Funds LLC now owns 19,242 shares of the bank’s stock valued at $268,000 after acquiring an additional 4,277 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Huntington Bancshares by 9.2% during the first quarter. Oppenheimer & Co. Inc. now owns 13,366 shares of the bank’s stock valued at $186,000 after acquiring an additional 1,125 shares in the last quarter. Russell Investments Group Ltd. grew its position in Huntington Bancshares by 4.0% in the 1st quarter. Russell Investments Group Ltd. now owns 1,096,627 shares of the bank’s stock worth $15,276,000 after purchasing an additional 41,742 shares during the period. Bleakley Financial Group LLC grew its position in Huntington Bancshares by 3.6% in the 1st quarter. Bleakley Financial Group LLC now owns 53,274 shares of the bank’s stock worth $743,000 after purchasing an additional 1,851 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its position in Huntington Bancshares by 2.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 1,367,085 shares of the bank’s stock worth $19,071,000 after purchasing an additional 28,483 shares during the period. Institutional investors own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Robert W. Baird cut shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price target on the stock. in a report on Friday, July 26th. Citigroup increased their target price on Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Baird R W cut Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. DA Davidson increased their target price on Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Morgan Stanley increased their target price on Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.09.

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.