Insider Selling: Huntington Bancshares Incorporated (NASDAQ:HBAN) CFO Sells 38,451 Shares of Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) CFO Zachary Jacob Wasserman sold 38,451 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total value of $552,925.38. Following the sale, the chief financial officer now directly owns 335,538 shares of the company’s stock, valued at approximately $4,825,036.44. This represents a 10.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Huntington Bancshares Price Performance

Shares of HBAN traded up $0.15 during trading hours on Monday, reaching $14.90. 23,103,655 shares of the company traded hands, compared to its average volume of 15,816,713. The stock has a market capitalization of $21.77 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. The stock has a fifty day simple moving average of $16.37 and a 200 day simple moving average of $16.13. Huntington Bancshares Incorporated has a fifty-two week low of $12.05 and a fifty-two week high of $18.45. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. 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 earned $0.27 earnings per share. As a group, research analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

Wall Street Analysts Forecast Growth

HBAN has been the subject of several recent analyst reports. Barclays raised their target price on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $20.00 price objective (up previously from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. Royal Bank of Canada reissued an “outperform” rating and set a $20.00 target price on shares of Huntington Bancshares in a research note on Tuesday, January 21st. The Goldman Sachs Group lifted their price target on Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Citigroup increased their price objective on Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $18.35.

Hedge Funds Weigh In On Huntington Bancshares

Several large investors have recently added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of Huntington Bancshares by 10.3% during the 3rd quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after buying an additional 7,439,909 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Huntington Bancshares by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank’s stock valued at $1,056,353,000 after acquiring an additional 2,218,020 shares during the period. Invesco Ltd. increased its stake in Huntington Bancshares by 4.6% during the fourth quarter. Invesco Ltd. now owns 52,599,986 shares of the bank’s stock worth $855,802,000 after acquiring an additional 2,310,502 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Huntington Bancshares by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock worth $540,422,000 after purchasing an additional 473,893 shares during the period. Finally, FMR LLC lifted its stake in shares of Huntington Bancshares by 36.9% in the 4th quarter. FMR LLC now owns 32,479,039 shares of the bank’s stock valued at $528,434,000 after purchasing an additional 8,759,871 shares in the last quarter. 80.72% of the stock is currently owned by hedge funds and other 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.