Huntington Bancshares Incorporated (NASDAQ:HBAN) CFO Sells $552,925.38 in Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) CFO Zachary Jacob Wasserman sold 38,451 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total value of $552,925.38. Following the transaction, the chief financial officer now 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 filing with the SEC, which is available through this link.

Huntington Bancshares Stock Up 1.4 %

HBAN stock opened at $14.97 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The firm has a 50-day moving average of $16.28 and a two-hundred day moving average of $16.12. Huntington Bancshares Incorporated has a 12 month low of $12.05 and a 12 month high of $18.45. The company has a market cap of $21.87 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 1.33 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same period in the previous year, the firm earned $0.27 earnings per share. As a group, analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.155 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 annualized dividend and a dividend yield of 4.14%. Huntington Bancshares’s dividend payout ratio is presently 50.41%.

Institutional Investors Weigh In On Huntington Bancshares

A number of hedge funds have recently modified their holdings of the company. Arvest Bank Trust Division purchased a new position in Huntington Bancshares during the third quarter worth about $2,381,000. Mediolanum International Funds Ltd purchased a new stake in shares of Huntington Bancshares during the 4th quarter valued at approximately $422,000. Donoghue Forlines LLC acquired a new position in Huntington Bancshares in the fourth quarter valued at approximately $1,460,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Huntington Bancshares by 5.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock worth $12,414,000 after acquiring an additional 44,662 shares during the period. Finally, Petiole USA ltd purchased a new stake in Huntington Bancshares in the third quarter valued at $3,454,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

HBAN has been the subject of several recent research reports. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. Morgan Stanley cut their price objective on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Barclays increased 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. Piper Sandler cut their price target on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research note on Tuesday, January 21st. Finally, Truist Financial increased their price target on Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.35.

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.