Insider Buying: Huntington Bancshares Incorporated (HBAN) CEO Purchases 18,000 Shares of Stock

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Huntington Bancshares Incorporated (NASDAQ:HBAN) CEO Stephen D. Steinour purchased 18,000 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were acquired at an average price of $13.33 per share, with a total value of $239,940.00. Following the transaction, the chief executive officer now owns 5,142,348 shares in the company, valued at approximately $68,547,498.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

NASDAQ:HBAN traded up $0.10 during mid-day trading on Monday, reaching $13.32. The stock had a trading volume of 10,409,702 shares, compared to its average volume of 12,970,337. The company has a market capitalization of $13.83 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 1.11 and a beta of 1.37. Huntington Bancshares Incorporated has a one year low of $11.12 and a one year high of $16.52. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.90 and a quick ratio of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, April 25th. The bank reported $0.32 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.32. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. Huntington Bancshares had a return on equity of 14.20% and a net margin of 26.24%. Huntington Bancshares’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS. As a group, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.32 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a $0.14 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.56 dividend on an annualized basis and a yield of 4.20%. Huntington Bancshares’s payout ratio is 46.67%.

A number of analysts have recently issued reports on HBAN shares. Vining Sparks reiterated a “buy” rating and set a $18.00 price target on shares of Huntington Bancshares in a research report on Thursday, January 24th. BidaskClub downgraded Huntington Bancshares from a “sell” rating to a “strong sell” rating in a research report on Monday, February 4th. ValuEngine upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Zacks Investment Research upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, May 6th. Finally, Jefferies Financial Group downgraded Huntington Bancshares from a “buy” rating to a “hold” rating and set a $14.00 price target for the company. in a research report on Monday, January 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $16.10.

A number of large investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC lifted its position in Huntington Bancshares by 34.5% in the 1st quarter. Advisory Services Network LLC now owns 7,620 shares of the bank’s stock worth $97,000 after buying an additional 1,954 shares during the last quarter. Nordea Investment Management AB lifted its position in Huntington Bancshares by 108.0% in the 1st quarter. Nordea Investment Management AB now owns 726,713 shares of the bank’s stock worth $9,216,000 after buying an additional 377,382 shares during the last quarter. Horizon Investments LLC bought a new stake in Huntington Bancshares in the 1st quarter worth approximately $2,841,000. Ameritas Investment Corp bought a new stake in Huntington Bancshares in the 1st quarter worth approximately $48,000. Finally, BlueMountain Capital Management LLC bought a new stake in Huntington Bancshares in the 1st quarter worth approximately $192,000. Institutional investors own 77.97% of the company’s stock.

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Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).

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