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Insider Selling: Huntington Bancshares Incorporated (NASDAQ:HBAN) Director Sells $1,200,800.00 in Stock

kopsource · Feb 3, 2023 05:23

Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) Director David L. Porteous sold 80,000 shares of the stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $15.01, for a total value of $1,200,800.00. Following the completion of the sale, the director now directly owns 62,845 shares of the company's stock, valued at approximately $943,303.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Huntington Bancshares Trading Up 1.8 %

Shares of NASDAQ HBAN opened at $15.50 on Friday. Huntington Bancshares Incorporated has a twelve month low of $11.67 and a twelve month high of $16.51. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. The stock has a fifty day simple moving average of $14.51 and a 200-day simple moving average of $14.15. The stock has a market capitalization of $22.36 billion, a PE ratio of 10.69, a PEG ratio of 0.31 and a beta of 1.11.

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Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Monday, March 20th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Friday, March 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.00%. Huntington Bancshares's payout ratio is presently 42.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Royal Bank of Canada increased their price target on Huntington Bancshares from $17.00 to $18.00 and gave the company an "outperform" rating in a report on Friday, November 11th. JPMorgan Chase & Co. cut Huntington Bancshares from a "neutral" rating to an "underweight" rating and cut their price target for the company from $15.50 to $14.50 in a report on Tuesday, December 13th. Raymond James raised their target price on Huntington Bancshares from $17.00 to $18.00 and gave the stock a "strong-buy" rating in a research note on Monday, October 24th. Stephens cut Huntington Bancshares from an "overweight" rating to an "equal weight" rating and raised their target price for the stock from $15.00 to $16.00 in a research note on Monday, October 24th. Finally, StockNews.com cut Huntington Bancshares from a "hold" rating to a "sell" rating in a research note on Monday. Four analysts have rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Huntington Bancshares presently has a consensus rating of "Hold" and a consensus target price of $15.53.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HBAN. CI Investments Inc. boosted its holdings in Huntington Bancshares by 994.3% in the third quarter. CI Investments Inc. now owns 1,904 shares of the bank's stock valued at $25,000 after purchasing an additional 1,730 shares during the period. Concord Wealth Partners boosted its holdings in Huntington Bancshares by 72.0% in the second quarter. Concord Wealth Partners now owns 2,135 shares of the bank's stock valued at $26,000 after purchasing an additional 894 shares during the period. Allworth Financial LP boosted its holdings in Huntington Bancshares by 91.9% in the third quarter. Allworth Financial LP now owns 1,998 shares of the bank's stock valued at $26,000 after purchasing an additional 957 shares during the period. Retirement Financial Solutions LLC purchased a new position in Huntington Bancshares in the fourth quarter valued at $28,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Huntington Bancshares by 149.8% in the third quarter. EverSource Wealth Advisors LLC now owns 2,573 shares of the bank's stock valued at $34,000 after purchasing an additional 1,543 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

About Huntington Bancshares

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Huntington Bancshares, Inc operates as a bank holding company. It provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, other financial products and services.