Sen. Tina Smith Sells Off Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Senator Tina Smith (D-Minnesota) recently sold shares of Huntington Bancshares Incorporated (NASDAQ:HBAN). In a filing disclosed on November 26th, the Senator disclosed that they had sold between $100,001 and $250,000 in Huntington Bancshares stock on November 21st.

Huntington Bancshares Trading Down 0.0%

Shares of NASDAQ HBAN traded down $0.01 during trading on Friday, reaching $16.27. The stock had a trading volume of 14,181,421 shares, compared to its average volume of 27,246,252. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.92. The company has a market cap of $23.74 billion, a P/E ratio of 11.37, a PEG ratio of 0.66 and a beta of 1.01. Huntington Bancshares Incorporated has a fifty-two week low of $11.91 and a fifty-two week high of $18.13. The business’s 50-day moving average price is $16.09 and its 200-day moving average price is $16.45.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Wednesday, June 11th. The bank reported $0.28 EPS for the quarter. The company had revenue of $469.00 million during the quarter. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%. On average, equities research analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 18th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Thursday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 43.36%.

Hedge Funds Weigh In On Huntington Bancshares

Several large investors have recently modified their holdings of the stock. MTM Investment Management LLC bought a new stake in Huntington Bancshares during the 2nd quarter valued at about $25,000. Family Legacy Financial Solutions LLC bought a new stake in shares of Huntington Bancshares during the second quarter valued at approximately $25,000. Palisade Asset Management LLC purchased a new position in Huntington Bancshares in the 3rd quarter worth approximately $26,000. South Plains Financial Inc. lifted its position in Huntington Bancshares by 116.3% in the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after acquiring an additional 826 shares in the last quarter. Finally, Accredited Wealth Management LLC increased its holdings in shares of Huntington Bancshares by 374.5% in the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock worth $29,000 after purchasing an additional 1,322 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Activity

In other Huntington Bancshares news, insider Helga Houston sold 64,587 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $15.38, for a total transaction of $993,348.06. Following the transaction, the insider owned 534,640 shares in the company, valued at approximately $8,222,763.20. This represents a 10.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Marcy C. Hingst sold 41,100 shares of Huntington Bancshares stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $18.00, for a total transaction of $739,800.00. Following the completion of the sale, the executive vice president owned 299,361 shares of the company’s stock, valued at $5,388,498. This represents a 12.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 112,103 shares of company stock valued at $1,833,558 over the last ninety days. 0.89% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Huntington Bancshares from $18.00 to $18.50 and gave the stock an “overweight” rating in a research note on Friday, October 10th. Cowen restated a “buy” rating on shares of Huntington Bancshares in a research note on Monday, October 20th. Jefferies Financial Group reduced their price objective on Huntington Bancshares from $20.00 to $19.00 in a research note on Monday, November 3rd. TD Cowen lifted their target price on Huntington Bancshares from $22.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Finally, Stephens upped their price target on Huntington Bancshares from $18.00 to $19.00 in a report on Friday, October 17th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.64.

About Senator Smith

Tina Smith (Democratic Party) is a member of the U.S. Senate from Minnesota. She assumed office on January 3, 2018. Her current term ends on January 3, 2027. Smith (Democratic Party) ran for re-election to the U.S. Senate to represent Minnesota. She won in the general election on November 3, 2020. Smith succeeded former Senator Al Franken (D). She assumed office on January 3, 2018. Smith won a full term in the special general election for the position on November 6, 2018. She defeated Karin Housley (R), Sarah Wellington (Legal Marijuana Now Party), and Jerry Trooien (Unaffiliated) to win the seat. She advanced to the general election after defeating five challengers in the special Democratic primary election on August 14, 2018. Smith previously served as the 48th lieutenant governor of Minnesota. She was elected to the position on a joint ticket with incumbent Governor Mark Dayton on November 4, 2014, and was sworn into office on January 5, 2015.

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.