Steven Lee Rhodes, vice chairman of Huntington Bancshares Incorporated (NASDAQ:HBAN), sells 14,705 shares
Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) Vice Chairman Steven Lee Rhodes sold 14,705 shares of the company in a trade dated Monday, May 2. The stock was sold at an average price of $13.28, for a total transaction of $195,282.40. Following the transaction, the vice president now owns 127,581 shares of the company, valued at $1,694,275.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website.
Shares of HBAN opened at $13.49 on Wednesday. The company has a debt ratio of 0.40, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $19.49 billion, a price-earnings ratio of 11.53 and a beta of 1.18. The company’s 50-day simple moving average is $14.42 and its 200-day simple moving average is $15.39. Huntington Bancshares Incorporated has a 1-year minimum of $12.98 and a 1-year maximum of $17.79.
Huntington Bancshares (NASDAQ:HBAN – Get Rating) last reported quarterly earnings data on Thursday, April 21. The bank reported earnings per share (EPS) of $0.29 for the quarter, missing the consensus estimate of $0.30 per ($0.01). The company posted revenue of $1.65 billion for the quarter, versus $1.63 billion for analysts. Huntington Bancshares had a net margin of 26.96% and a return on equity of 12.19%. The company’s quarterly revenue increased 20.3% year over year. During the same period a year earlier, the company posted EPS of $0.48. Equity analysts expect Huntington Bancshares Incorporated to post 1.4 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 1. Investors of record on Friday, June 17 will receive a dividend of $0.155 per share. This represents an annualized dividend of $0.62 and a dividend yield of 4.60%. The ex-date of this dividend is Thursday, June 16. Huntington Bancshares payout ratio is 52.99%.
Several research analysts have weighed in on the stock. StockNews.com upgraded Huntington Bancshares shares from a “sell” to a “hold” rating in a Friday, April 22 research report. Morgan Stanley lowered its target price on shares of Huntington Bancshares from $18.00 to $17.00 and set an “equal weight” rating on the stock in a Monday, March 28 research report. UBS Group assumed coverage of Huntington Bancshares shares in a Wednesday, January 12 research report. They issued a “buy” rating and a price target of $21.00 on the stock. Bank of America downgraded shares of Huntington Bancshares from a “buy” rating to a “neutral” rating and set a price target of $16.00 for the stock. in a research report on Friday, April 8. Finally, Stephens upgraded shares of Huntington Bancshares from an “equal weight” rating to an “overweight” rating and raised his price target for the company from $16.00 to $17.00 in a report of research from Monday, April 25. One analyst rated the stock with a sell rating, six issued a hold rating, three assigned a buy rating and one assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $17.71.
Several institutional investors and hedge funds have recently changed their positions in HBAN. Norges Bank bought a new stock position in Huntington Bancshares during the fourth quarter valued at approximately $213,579,000. Charles Schwab Investment Management Inc. increased its stake in Huntington Bancshares by 32.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 37,648,315 shares of the bank worth $580,538,000 after purchasing an additional 9,257,936 shares during the period. JPMorgan Chase & Co. increased its stake in Huntington Bancshares by 16.2% during the fourth quarter. JPMorgan Chase & Co. now owns 39,623,451 shares of the bank worth $610,994,000 after purchasing an additional 5,513,700 shares during the period. BlackRock Inc. increased its stake in Huntington Bancshares by 3.4% during the third quarter. BlackRock Inc. now owns 126,061,215 shares of the bank worth $1,948,908,000 after purchasing an additional 4,124,809 shares during the period. Finally, Citigroup Inc. increased its stake in Huntington Bancshares by 88.5% during the third quarter. Citigroup Inc. now owns 7,466,377 shares of the bank worth $115,429,000 after purchasing an additional 3,504,856 shares during the period. 79.26% of the shares are currently held by institutional investors and hedge funds.
Huntington Bancshares Company Profile (Get a rating)
Huntington Bancshares Incorporated operates as a bank holding company for Huntington National Bank which provides commercial, consumer and mortgage banking services in the United States. The Company operates through four segments: Personal and Commercial Banking; The Commercial Bank; Vehicle financing; and Regional Banking and The Huntington Private Client Group (RBHPCG).
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