Huntington Bancshares (NASDAQ:HBAN) Stock: Insider Gary Torgow Buys 12,700 Shares

Huntington Bancshares Incorporated (NASDAQ:HBAN) Director Gary Torgow bought 12,700 shares of the firm’s stock in a transaction on Tuesday, October 27th. The shares were bought at an average cost of $15.73 per share, with a total value of $199,771.00. Following the transaction, the director directly owned 956,041 shares of the company’s stock, valued at approximately $15,038,524.93. This trade represents a 1.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Huntington Bancshares Trading Down 1.2%

Shares of HBAN stock opened at $15.78 on Friday. Huntington Bancshares Incorporated has a 12 month low of $14.82 and a 12 month high of $19.45. The company has a market cap of $31.88 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $15.96 and its two-hundred day moving average is $16.70.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, October 22nd. The bank reported $0.38 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.38. Huntington Bancshares had a net margin of 16.28% and a return on equity of 10.93%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the previous year, the company earned $0.41 earnings per share. Equities analysts predict that Huntington Bancshares Incorporated will post 1.54 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Friday, December 18th will be paid a $0.1550 dividend. The ex-dividend date is Friday, December 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.9%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 51.24%.

Hedge Funds Weigh In On Huntington Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ascent Group LLC grew its position in Huntington Bancshares by 1.6% in the 3rd quarter. Ascent Group LLC now owns 119,036 shares of the bank’s stock worth $1,816,000 after purchasing an additional 1,838 shares during the last quarter. Rakuten Investment Management Inc. increased its holdings in shares of Huntington Bancshares by 9.3% during the 3rd quarter. Rakuten Investment Management Inc. now owns 363,078 shares of the bank’s stock worth $5,544,000 after purchasing an additional 30,944 shares during the period. Provenance Wealth Advisors LLC acquired a new position in shares of Huntington Bancshares during the third quarter valued at about $131,000. Evergreen Private Wealth LLC raised its position in shares of Huntington Bancshares by 2.7% during the third quarter. Evergreen Private Wealth LLC now owns 363,832 shares of the bank’s stock valued at $5,552,000 after buying an additional 9,495 shares during the last quarter. Finally, VCI Wealth Management LLC acquired a new position in shares of Huntington Bancshares during the third quarter valued at about $1,296,000. Institutional investors own 80.72% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on HBAN shares. Jefferies Financial Group cut their target price on shares of Huntington Bancshares from $18.00 to $17.00 and set a “hold” rating for the company in a research report on Thursday, September 24th. UBS Group set a $18.00 price target on Huntington Bancshares in a research report on Tuesday, October 6th. Truist Financial lowered their price target on Huntington Bancshares from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday. Morgan Stanley lowered Huntington Bancshares from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $21.00 to $19.00 in a research note on Friday, July 24th. Finally, Keefe, Bruyette & Woods cut their price objective on Huntington Bancshares from $19.50 to $18.00 and set a “market perform” rating for the company in a research report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.98.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and residential lending, credit cards, auto finance, mortgages, commercial loans, treasury management, investment and wealth management services, insurance, and other financial solutions.