Huntington Bancshares (NASDAQ:HBAN) Stock Price Crosses Below Fifty Day Moving Average – Should You Sell?

Huntington Bancshares Incorporated (NASDAQ:HBAN)’s stock price crossed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $15.96 and traded as low as $15.63. Huntington Bancshares shares last traded at $15.78, with a volume of 19,221,646 shares changing hands.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Weiss Ratings cut shares of Huntington Bancshares from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $21.00 target price on shares of Huntington Bancshares in a report on Tuesday, August 18th. Bank of America lowered Huntington Bancshares from a “buy” rating to a “neutral” rating and decreased their price target for the company from $20.00 to $18.50 in a research report on Monday, July 27th. Citigroup dropped their price target on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Wells Fargo & Company dropped their price target on Huntington Bancshares from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.98.

Huntington Bancshares Trading Down 1.2%

The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59. The firm has a market cap of $31.88 billion, a PE ratio of 13.04, a P/E/G ratio of 1.03 and a beta of 0.95. The company’s 50-day moving average is $15.96 and its 200 day moving average is $16.70.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, October 22nd. The bank reported $0.38 EPS 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 firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter last year, the business posted $0.41 EPS. As a group, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.54 EPS for the current year.

Huntington Bancshares Announces Dividend

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

Insider Activity

In other Huntington Bancshares news, Director James D. Rollins III bought 14,000 shares of the company’s stock in a transaction dated Monday, October 26th. The shares were bought at an average price of $18.12 per share, for a total transaction of $253,680.00. Following the acquisition, the director directly owned 15,500 shares of the company’s stock, valued at approximately $280,860. This trade represents a 933.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kendall A. Kowalski sold 27,971 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $17.20, for a total transaction of $481,101.20. Following the completion of the sale, the insider directly owned 70,025 shares of the company’s stock, valued at $1,204,430. This trade represents a 28.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.67% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Huntington Bancshares in the second quarter worth $3,134,426,000. Dimensional Fund Advisors LP raised its holdings in shares of Huntington Bancshares by 27.2% during the first quarter. Dimensional Fund Advisors LP now owns 23,480,601 shares of the bank’s stock worth $367,388,000 after acquiring an additional 5,026,894 shares in the last quarter. Amundi raised its holdings in shares of Huntington Bancshares by 30.7% during the first quarter. Amundi now owns 19,502,547 shares of the bank’s stock worth $305,215,000 after acquiring an additional 4,578,566 shares in the last quarter. Bank of America Corp DE acquired a new stake in Huntington Bancshares during the second quarter valued at $256,772,000. Finally, Bank of New York Mellon Corp acquired a new stake in Huntington Bancshares during the second quarter valued at $229,246,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

About Huntington Bancshares

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.