Huntington Bancshares Incorporated (NASDAQ:HBAN) Short Interest Update

Huntington Bancshares Incorporated (NASDAQ:HBAN) saw a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 30,500,000 shares, a decline of 9.4% from the November 15th total of 33,650,000 shares. Based on an average daily volume of 13,430,000 shares, the short-interest ratio is presently 2.3 days.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the transaction, the vice president now directly owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. This represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Helga Houston sold 6,455 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the sale, the insider now directly owns 558,342 shares of the company’s stock, valued at $8,615,217.06. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,699 shares of company stock worth $757,356 over the last quarter. Insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

Institutional investors have recently added to or reduced their stakes in the stock. Asset Dedication LLC raised its holdings in shares of Huntington Bancshares by 200.7% during the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,202 shares during the last quarter. Peoples Bank KS purchased a new stake in shares of Huntington Bancshares during the third quarter worth approximately $29,000. Future Financial Wealth Managment LLC acquired a new position in Huntington Bancshares in the 3rd quarter valued at $31,000. Fortitude Family Office LLC purchased a new position in Huntington Bancshares in the 3rd quarter valued at $32,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in Huntington Bancshares by 695.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after purchasing an additional 2,003 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

HBAN stock remained flat at $17.17 during midday trading on Friday. 12,838,137 shares of the company traded hands, compared to its average volume of 15,809,455. Huntington Bancshares has a 52 week low of $12.02 and a 52 week high of $18.44. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. The company’s fifty day moving average is $16.65 and its two-hundred day moving average is $14.85. The firm has a market capitalization of $24.94 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 3.47 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same period last year, the firm earned $0.36 EPS. On average, research analysts predict that Huntington Bancshares will post 1.21 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be given a dividend of $0.155 per share. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.61%. Huntington Bancshares’s dividend payout ratio (DPR) is 59.62%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on HBAN shares. DA Davidson upped their price target on shares of Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research note on Monday, October 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a research report on Thursday. Sandler O’Neill reaffirmed a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $20.00 price objective (up from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Finally, Piper Sandler lifted their target price on Huntington Bancshares from $15.00 to $17.50 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.41.

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.